RiverNorth Flexible Correlations

RFM Etf

USD 15.54 0.05 0.32%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as RiverNorth Flexible moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if RiverNorth Flexible Municipalome moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

RiverNorth Flexible Correlation With Market

Weak diversification

The correlation between RiverNorth Flexible Municipalo and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding RiverNorth Flexible Municipalo and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in RiverNorth Flexible Municipalome. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with RiverNorth Etf

0.82	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.73	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.72	VO	Vanguard Mid Cap	Pair Corr
0.66	VEA	Vanguard FTSE Developed	Pair Corr
0.71	VB	Vanguard Small Cap	Pair Corr
0.74	PMBS	PIMCO Mortgage Backed	Pair Corr
0.72	HD	Home Depot	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.64	CVX	Chevron Corp	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.71	TRV	The Travelers Companies	Pair Corr
0.74	VZ	Verizon Communications Aggressive Push	Pair Corr

Moving against RiverNorth Etf

0.59	BA	Boeing	Pair Corr
0.45	AMPD	Tidal Trust II	Pair Corr
0.43	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.22	-0.28	-0.51	0.73	0.78	0.44	0.75	-0.44	-0.59	META
MSFT	0.22		-0.53	-0.12	0.2	0.24	0.67	0.09	0.18	-0.36	MSFT
UBER	-0.28	-0.53		0.64	-0.12	-0.03	-0.48	0.03	-0.03	0.78	UBER
F	-0.51	-0.12	0.64		-0.06	-0.35	0.01	-0.13	0.17	0.9	F
T	0.73	0.2	-0.12	-0.06		0.48	0.62	0.67	-0.37	-0.21	T
A	0.78	0.24	-0.03	-0.35	0.48		0.2	0.74	-0.24	-0.4	A
CRM	0.44	0.67	-0.48	0.01	0.62	0.2		0.37	-0.06	-0.28	CRM
JPM	0.75	0.09	0.03	-0.13	0.67	0.74	0.37		-0.57	-0.25	JPM
MRK	-0.44	0.18	-0.03	0.17	-0.37	-0.24	-0.06	-0.57		0.13	MRK
XOM	-0.59	-0.36	0.78	0.9	-0.21	-0.4	-0.28	-0.25	0.13		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

XOM	+ 0.9	F
A	+ 0.78	META
XOM	+ 0.78	UBER
JPM	+ 0.75	META
JPM	+ 0.74	A
T	+ 0.73	META

High negative correlations

XOM	- 0.59	META
MRK	- 0.57	JPM
UBER	- 0.53	MSFT
F	- 0.51	META
CRM	- 0.48	UBER
MRK	- 0.44	META

RiverNorth Flexible Competition Risk-Adjusted Indicators

There is a big difference between RiverNorth Etf performing well and RiverNorth Flexible ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze RiverNorth Flexible's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.32	0.31	0.18	0.77	1.17	(1.50)	3.43	(1.95)	7.43
MSFT	1.02	0.03	(0.03)	0.25	1.63	(0.99)	2.20	(2.14)	10.31
UBER	1.66	(0.03)	0.00	(0.35)	0.00	0.00	3.36	(5.35)	12.29
F	1.46	(0.19)	0.00	(0.18)	0.00	0.00	2.57	(2.90)	9.39
T	0.98	0.10	0.05	0.30	1.04	(1.13)	1.91	(1.84)	7.94
A	1.22	0.15	0.08	0.37	1.12	(1.44)	2.92	(2.16)	8.06
CRM	1.58	0.18	0.07	0.53	1.72	(1.80)	3.70	(2.95)	14.80
JPM	1.02	0.32	0.21	1.00	0.92	(1.24)	1.97	(1.42)	15.87
MRK	1.15	(0.23)	0.00	(0.87)	0.00	0.00	2.00	(2.13)	11.57
XOM	0.89	(0.15)	0.00	(0.21)	0.00	0.00	1.71	(1.93)	6.06

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