Saba Capital Correlations

SABA Etf

8.17 0.03 0.37%

The current 90-days correlation between Saba Capital Income and Abrdn Emerging Markets is 0.14 (i.e., Average diversification). The correlation of Saba 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.

Saba Capital Correlation With Market

Excellent diversification

The correlation between Saba Capital Income and DJI is -0.64 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saba Capital Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Saba Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Saba Capital Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Saba Etf

0.76

HPQ

HP Inc

Pair Corr

Moving against Saba Etf

0.79	VEA	Vanguard FTSE Developed	Pair Corr
0.75	VTV	Vanguard Value Index	Pair Corr
0.75	EWC	iShares MSCI Canada	Pair Corr
0.69	WTMF	WisdomTree Managed	Pair Corr
0.66	VB	Vanguard Small Cap	Pair Corr
0.64	VWO	Vanguard FTSE Emerging	Pair Corr
0.59	OIH	VanEck Oil Services	Pair Corr
0.58	VO	Vanguard Mid Cap	Pair Corr
0.55	SPY	SPDR SP 500	Pair Corr
0.55	IVV	iShares Core SP	Pair Corr
0.54	VTI	Vanguard Total Stock	Pair Corr
0.53	TOT	Advisor Managed Port	Pair Corr
0.45	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.43	INTC	Intel Aggressive Push	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.74	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.67	CVX	Chevron Corp	Pair Corr
0.64	DD	Dupont De Nemours	Pair Corr
0.6	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.54	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.52	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.31	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.32	0.12	0.19	0.01	-0.27	0.36	0.17	-0.09	0.03	META
MSFT	0.32		0.74	-0.47	0.28	0.38	0.44	-0.02	-0.8	-0.72	MSFT
UBER	0.12	0.74		-0.44	0.33	0.57	0.1	-0.2	-0.8	-0.53	UBER
F	0.19	-0.47	-0.44		-0.48	-0.24	-0.01	0.3	0.63	0.62	F
T	0.01	0.28	0.33	-0.48		0.44	-0.25	-0.27	-0.37	-0.38	T
A	-0.27	0.38	0.57	-0.24	0.44		-0.1	-0.13	-0.33	-0.54	A
CRM	0.36	0.44	0.1	-0.01	-0.25	-0.1		0.69	-0.15	-0.5	CRM
JPM	0.17	-0.02	-0.2	0.3	-0.27	-0.13	0.69		0.29	-0.13	JPM
MRK	-0.09	-0.8	-0.8	0.63	-0.37	-0.33	-0.15	0.29		0.68	MRK
XOM	0.03	-0.72	-0.53	0.62	-0.38	-0.54	-0.5	-0.13	0.68		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

UBER	+ 0.74	MSFT
JPM	+ 0.69	CRM
XOM	+ 0.68	MRK
MRK	+ 0.63	F
XOM	+ 0.62	F
A	+ 0.57	UBER

High negative correlations

MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.72	MSFT
XOM	- 0.54	A
XOM	- 0.53	UBER
XOM	- 0.5	CRM

Saba Capital Competition Risk-Adjusted Indicators

There is a big difference between Saba Etf performing well and Saba 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 Saba 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
META	1.60	0.02	0.00	(0.36)	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.23	(0.32)	0.00	(1.41)	0.00	0.00	1.85	(2.70)	13.28
UBER	1.46	(0.30)	0.00	(0.36)	0.00	0.00	2.46	(3.82)	10.23
F	1.28	0.03	0.00	0.26	1.46	(1.46)	3.38	(2.35)	7.16
T	0.96	0.05	0.02	0.23	1.04	(1.03)	1.85	(1.85)	3.77
A	1.19	(0.17)	0.00	(0.37)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.54	(0.30)	0.00	(0.25)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.09	(0.03)	(0.01)	0.01	1.67	(1.09)	1.88	(3.11)	7.38
MRK	1.28	0.33	0.24	0.50	1.13	(1.56)	3.59	(1.98)	8.09
XOM	1.08	0.31	0.23	3.83	0.95	(1.26)	2.38	(1.51)	5.82

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