SoFi Select Correlations

SFY Etf

USD 111.70 0.68 0.61%

The current 90-days correlation between SoFi Select 500 and Berry Petroleum Corp is 0.03 (i.e., Significant diversification). The correlation of SoFi Select 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.

SoFi Select Correlation With Market

Very weak diversification

The correlation between SoFi Select 500 and DJI is 0.55 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SoFi Select 500 and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SoFi Select 500. 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 SoFi Etf

0.79	VUG	Vanguard Growth Index	Pair Corr
0.77	IWF	iShares Russell 1000	Pair Corr
0.78	IVW	iShares SP 500	Pair Corr
0.78	SPYG	SPDR Portfolio SP	Pair Corr
0.81	IUSG	iShares Core SP	Pair Corr
0.75	MGK	Vanguard Mega Cap	Pair Corr
0.77	VRGWX	Vanguard Russell 1000	Pair Corr
0.81	QQQM	Invesco NASDAQ 100	Pair Corr

Related Correlations Analysis

	BRY	CRK	SFYX	SM	ROSE
BRY		0.29	-0.17	0.24	0.0	BRY
CRK	0.29		-0.11	-0.16	0.0	CRK
SFYX	-0.17	-0.11		0.52	0.0	SFYX
SM	0.24	-0.16	0.52		0.0	SM
ROSE	0.0	0.0	0.0	0.0		ROSE
	BRY	CRK	SFYX	SM	ROSE

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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

SM	+ 0.52	SFYX
CRK	+ 0.29	BRY
SM	+ 0.24	BRY
ROSE	+ 0.0	BRY
ROSE	+ 0.0	CRK
ROSE	+ 0.0	SFYX

High negative correlations

SFYX	- 0.17	BRY
SM	- 0.16	CRK
SFYX	- 0.11	CRK
ROSE	- 0.0	SM
ROSE	- 0.0	SFYX
ROSE	- 0.0	CRK

SoFi Select Constituents Risk-Adjusted Indicators

There is a big difference between SoFi Etf performing well and SoFi Select 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 SoFi Select'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
BRY	2.42	(0.26)	0.00	(0.68)	0.00	0.00	4.84	(4.44)	15.26
CRK	2.66	0.85	0.24	(34.03)	2.65	(3.01)	7.88	(4.54)	19.21
SFYX	0.87	0.05	0.04	0.12	0.93	(0.94)	1.39	(1.70)	7.37
SM	1.61	(0.12)	0.00	(0.38)	0.00	0.00	2.92	(3.89)	12.99
ROSE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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