Source Markets Correlations

SC0W Etf

EUR 803.50 29.20 3.51%

The correlation of Source Markets 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.

Source Markets Correlation With Market

Very poor diversification

The correlation between Source Markets plc and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Source Markets plc and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Source Markets could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Source Markets when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Source Markets - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Source Markets plc to buy it.

Moving together with Source Etf

0.89	XDWI	Xtrackers MSCI World	Pair Corr
0.89	ZPDI	SPDR SP Industrials	Pair Corr
0.9	SPYQ	SSgA SPDR ETFs	Pair Corr
0.98	SPYP	SSgA SPDR ETFs	Pair Corr
0.97	XDWM	Xtrackers Public	Pair Corr
0.96	ZPDM	SPDR SP Materials	Pair Corr
0.96	VZLC	WisdomTree Physical	Pair Corr
0.94	G2XJ	VanEck Junior Gold	Pair Corr
0.94	ETLX	LG Gold Mining	Pair Corr
0.95	SLVR	Global X Silver	Pair Corr
0.95	G2X	VanEck Gold Miners	Pair Corr
0.92	UBUD	UBS ETF Public	Pair Corr
0.94	IS0E	iShares Gold Producers	Pair Corr
0.94	ETLX	LG Gold Mining	Pair Corr
0.94	M9SD	Market Access NYSE	Pair Corr
0.93	M9SD	Market Access	Pair Corr
0.68	E908	Lyxor 1 TecDAX	Pair Corr
0.92	AHYE	Amundi Index Solutions	Pair Corr
0.77	JGNE	JPM Green Social	Pair Corr
0.75	V60A	Vanguard LifeStrategy	Pair Corr
0.69	E908	Lyxor 1	Pair Corr
0.79	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Source Etf

0.82

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	NS4E	SC0W	SC0Z	SC0W	KFTK	DVEU	EMSV	E500	SC0F
NS4E		0.93	0.88	0.94	-0.42	0.0	0.0	0.67	0.0	NS4E
SC0W	0.93		0.93	0.99	-0.56	0.0	0.0	0.71	0.0	SC0W
SC0Z	0.88	0.93		0.93	-0.7	0.0	0.0	0.58	0.0	SC0Z
SC0W	0.94	0.99	0.93		-0.56	0.0	0.0	0.7	0.0	SC0W
KFTK	-0.42	-0.56	-0.7	-0.56		0.0	0.0	-0.12	0.0	KFTK
DVEU	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	DVEU
EMSV	0.0	0.0	0.0	0.0	0.0	0.0		0.0	0.0	EMSV
E500	0.67	0.71	0.58	0.7	-0.12	0.0	0.0		0.0	E500
SC0F	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		SC0F
	NS4E	SC0W	SC0Z	SC0W	KFTK	DVEU	EMSV	E500	SC0F

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

SC0W	+ 0.99	SC0W
SC0W	+ 0.94	NS4E
SC0W	+ 0.93	NS4E
SC0Z	+ 0.93	SC0W
SC0W	+ 0.93	SC0Z
SC0Z	+ 0.88	NS4E

High negative correlations

KFTK	- 0.7	SC0Z
KFTK	- 0.56	SC0W
KFTK	- 0.56	SC0W
KFTK	- 0.42	NS4E
E500	- 0.12	KFTK
SC0F	- 0.0	E500

Source Markets Constituents Risk-Adjusted Indicators

There is a big difference between Source Etf performing well and Source Markets 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 Source Markets' 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
NS4E	0.71	0.16	0.14	0.77	0.63	(0.78)	1.58	(1.33)	4.16
SC0W	1.22	0.44	0.20	2.19	1.50	(1.34)	2.29	(2.55)	8.44
SC0Z	0.54	0.19	0.21	(18.93)	0.29	(0.62)	1.32	(0.89)	3.02
SC0W	1.07	0.38	0.29	0.96	0.87	(1.29)	2.72	(1.80)	5.97
KFTK	0.95	(0.26)	0.00	(0.47)	0.00	0.00	1.47	(2.20)	7.93
DVEU	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EMSV	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
E500	0.63	(0.01)	(0.07)	(0.05)	0.88	(0.62)	1.12	(1.48)	3.12
SC0F	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

Be your own money manager

Our tools can tell you how much better you can do entering a position in Source Markets without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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