Touchstone Strategic Correlations

SIO Etf

USD 26.03 0.00 0.00%

The current 90-days correlation between Touchstone Strategic and Northern Lights is 0.42 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Touchstone Strategic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Touchstone Strategic Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Touchstone Strategic Correlation With Market

Very poor diversification

The correlation between Touchstone Strategic Income and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Touchstone Strategic Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Touchstone Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Touchstone Strategic 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 gross domestic product.

Moving together with Touchstone Etf

0.65	AXSAX	Axonic Strategic Income	Pair Corr
0.77	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.76	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.7	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.71	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.87	JPIE	JP Morgan Exchange	Pair Corr
0.86	AFIF	Anfield Universal Fixed	Pair Corr
0.94	MUSI	American Century Mul	Pair Corr
0.83	SIXD	AIM ETF Products	Pair Corr
0.88	FLXR	TCW ETF Trust	Pair Corr
0.87	AA	Alcoa Corp	Pair Corr
0.75	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.72	BA	Boeing Sell-off Trend	Pair Corr
0.74	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.85	MRK	Merck Company Earnings Call This Week	Pair Corr
0.7	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against Touchstone Etf

0.83	VXX	iPath Series B Low Volatility	Pair Corr
0.83	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.81	VIXM	ProShares VIX Mid Low Volatility	Pair Corr
0.81	VXZ	iPath Series B Low Volatility	Pair Corr
0.51	YCL	ProShares Ultra Yen	Pair Corr
0.44	FXY	Invesco CurrencyShares	Pair Corr
0.55	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.31	0.06	0.06	-0.07	-0.27	0.34	-0.03	-0.05	0.04	META
MSFT	0.31		0.75	-0.47	0.48	0.32	0.39	-0.1	-0.81	-0.68	MSFT
UBER	0.06	0.75		-0.45	0.47	0.51	0.07	-0.23	-0.8	-0.52	UBER
F	0.06	-0.47	-0.45		-0.59	-0.33	0.02	0.46	0.64	0.6	F
T	-0.07	0.48	0.47	-0.59		0.61	-0.09	-0.25	-0.46	-0.64	T
A	-0.27	0.32	0.51	-0.33	0.61		-0.13	-0.12	-0.32	-0.52	A
CRM	0.34	0.39	0.07	0.02	-0.09	-0.13		0.62	-0.13	-0.45	CRM
JPM	-0.03	-0.1	-0.23	0.46	-0.25	-0.12	0.62		0.35	-0.05	JPM
MRK	-0.05	-0.81	-0.8	0.64	-0.46	-0.32	-0.13	0.35		0.68	MRK
XOM	0.04	-0.68	-0.52	0.6	-0.64	-0.52	-0.45	-0.05	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	+ 0.75	MSFT
XOM	+ 0.68	MRK
MRK	+ 0.64	F
JPM	+ 0.62	CRM
A	+ 0.61	T
XOM	+ 0.6	F

High negative correlations

MRK	- 0.81	MSFT
MRK	- 0.8	UBER
XOM	- 0.68	MSFT
XOM	- 0.64	T
T	- 0.59	F
XOM	- 0.52	A

Touchstone Strategic Competition Risk-Adjusted Indicators

There is a big difference between Touchstone Etf performing well and Touchstone Strategic 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 Touchstone Strategic'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	(0.03)	(0.01)	0.02	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.24	(0.29)	0.00	(1.12)	0.00	0.00	1.85	(2.70)	4.90
UBER	1.47	(0.24)	0.00	(0.26)	0.00	0.00	2.50	(3.82)	10.23
F	1.47	0.18	0.10	0.52	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.03)	0.00	(0.14)	0.00	0.00	1.63	(1.85)	4.30
A	1.19	(0.22)	0.00	(0.12)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.53	(0.30)	0.00	(0.24)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.11	0.04	(0.01)	(0.50)	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.26	0.30	0.21	0.47	1.14	(1.53)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.18	0.45	0.96	(1.23)	2.38	(1.51)	5.82

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