Hoya Capital Correlations

RIET Etf

USD 10.87 0.05 0.46%

The current 90-days correlation between Hoya Capital High and InfraCap Equity Income is 0.71 (i.e., Poor diversification). The correlation of Hoya Capital is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Hoya Capital Correlation With Market

Very weak diversification

The correlation between Hoya Capital High and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Hoya Capital High 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 Hoya Capital High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Hoya Etf

0.83	VNQ	Vanguard Real Estate	Pair Corr
0.78	XLRE	Real Estate	Pair Corr
0.82	IYR	iShares Real Estate	Pair Corr
0.79	ICF	iShares Cohen Steers Low Volatility	Pair Corr
0.73	USRT	iShares Core REIT	Pair Corr
0.85	IRET	Tidal Trust II	Pair Corr
0.66	VZ	Verizon Communications Aggressive Push	Pair Corr
0.64	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.63	MSFT	Microsoft Aggressive Push	Pair Corr

Moving against Hoya Etf

0.44	MORE	MORE	Pair Corr
0.43	RTL	Pacer Financial	Pair Corr
0.31	TSJA	TSJA	Pair Corr
0.45	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.36	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.35	BAC	Bank of America Aggressive Push	Pair Corr

Related Correlations Analysis

	ICAP	PFFA	HOMZ	QRTEP	AMZA
ICAP		0.83	0.53	0.34	0.73	ICAP
PFFA	0.83		0.5	0.36	0.34	PFFA
HOMZ	0.53	0.5		0.79	0.41	HOMZ
QRTEP	0.34	0.36	0.79		0.3	QRTEP
AMZA	0.73	0.34	0.41	0.3		AMZA
	ICAP	PFFA	HOMZ	QRTEP	AMZA

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Hoya Capital Constituents Risk-Adjusted Indicators

There is a big difference between Hoya Etf performing well and Hoya Capital 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 Hoya Capital'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
ICAP	0.63	0.03	0.02	0.15	0.53	(0.72)	1.40	(1.26)	4.27
PFFA	0.34	0.05	(0.10)	0.31	0.26	(0.39)	0.76	(0.70)	1.96
HOMZ	0.80	0.00	(0.04)	0.12	0.90	(0.86)	1.54	(1.47)	5.86
QRTEP	1.45	0.03	0.03	0.14	1.79	(1.57)	3.90	(3.23)	9.82
AMZA	0.84	0.16	0.12	0.39	0.81	(0.94)	2.02	(1.63)	5.64

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