Intech SP Correlations

SMDX Etf

24.05 0.08 0.33%

The current 90-days correlation between Intech SP Small and First Trust Active is 0.96 (i.e., Almost no diversification). The correlation of Intech SP 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.

Intech SP Correlation With Market

Poor diversification

The correlation between Intech SP Small Mid and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Intech SP Small Mid and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Intech Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Intech SP Small Mid. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with Intech Etf

0.98	VB	Vanguard Small Cap	Pair Corr
0.99	IJR	iShares Core SP	Pair Corr
0.96	IWM	iShares Russell 2000	Pair Corr
0.77	VRTIX	Vanguard Russell 2000	Pair Corr
0.96	VTWO	Vanguard Russell 2000	Pair Corr
0.99	FNDA	Schwab Fundamental Small	Pair Corr
0.99	SPSM	SPDR Portfolio SP	Pair Corr
0.99	DFAS	Dimensional Small Cap	Pair Corr
0.99	VIOO	Vanguard SP Small	Pair Corr
0.98	PRFZ	Invesco FTSE RAFI	Pair Corr
0.89	LENS	Sarmaya Thematic ETF	Pair Corr
0.86	ASA	ASA Gold	Pair Corr
0.93	MAPP	Harbor ETF Trust	Pair Corr
0.93	SNPD	DBX ETF Trust	Pair Corr
0.94	HYLB	Xtrackers USD High	Pair Corr
0.73	RYLG	Global X Russell	Pair Corr
0.84	JPIE	JP Morgan Exchange	Pair Corr
0.9	GAPR	First Trust Exchange	Pair Corr
0.64	SGVT	Schwab Strategic Trust	Pair Corr
0.95	FALN	iShares Fallen Angels	Pair Corr
0.97	KFEB	Innovator Small Cap	Pair Corr
0.81	VGSH	Vanguard Short Term Sell-off Trend	Pair Corr
0.96	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.8	ARLU	AIM ETF Products	Pair Corr
0.65	NVMZ	TrueShares Structured	Pair Corr
0.65	MEM	MAYBANK EMERGING ETF	Pair Corr
0.95	VYM	Vanguard High Dividend	Pair Corr
0.9	FIVA	Fidelity International	Pair Corr
0.76	SCYB	Schwab Strategic Trust	Pair Corr
0.82	SMH	VanEck Semiconductor ETF	Pair Corr
0.88	SKOR	FlexShares Credit	Pair Corr
0.86	SLV	iShares Silver Trust Aggressive Push	Pair Corr

Moving against Intech Etf

0.78

SWIN

Alps Symbol Change

Pair Corr

Related Correlations Analysis

	AFMC	SLX	GLRY	CIL	BAMD	LSAT	SIXS	STNC	IFGL	INCE
AFMC		0.93	0.57	0.94	0.51	0.25	0.95	0.9	0.78	0.96	AFMC
SLX	0.93		0.37	0.96	0.31	-0.04	0.91	0.82	0.71	0.96	SLX
GLRY	0.57	0.37		0.45	0.59	0.57	0.36	0.71	0.67	0.44	GLRY
CIL	0.94	0.96	0.45		0.43	0.08	0.9	0.89	0.83	0.97	CIL
BAMD	0.51	0.31	0.59	0.43		0.75	0.51	0.69	0.7	0.5	BAMD
LSAT	0.25	-0.04	0.57	0.08	0.75		0.23	0.44	0.37	0.11	LSAT
SIXS	0.95	0.91	0.36	0.9	0.51	0.23		0.82	0.69	0.94	SIXS
STNC	0.9	0.82	0.71	0.89	0.69	0.44	0.82		0.91	0.87	STNC
IFGL	0.78	0.71	0.67	0.83	0.7	0.37	0.69	0.91		0.8	IFGL
INCE	0.96	0.96	0.44	0.97	0.5	0.11	0.94	0.87	0.8		INCE
	AFMC	SLX	GLRY	CIL	BAMD	LSAT	SIXS	STNC	IFGL	INCE

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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

INCE	+ 0.97	CIL
INCE	+ 0.96	AFMC
CIL	+ 0.96	SLX
INCE	+ 0.96	SLX
SIXS	+ 0.95	AFMC
CIL	+ 0.94	AFMC

High negative correlations

LSAT

- 0.04

SLX

Intech SP Constituents Risk-Adjusted Indicators

There is a big difference between Intech Etf performing well and Intech SP 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 Intech SP'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
AFMC	0.70	0.02	0.02	0.11	0.70	(0.74)	1.63	(1.55)	3.90
SLX	1.01	0.21	0.19	0.26	0.87	(1.15)	2.31	(1.83)	6.84
GLRY	0.86	(0.03)	(0.03)	0.06	1.17	(0.83)	1.70	(2.17)	4.62
CIL	0.45	0.06	0.04	0.19	0.40	(0.47)	0.95	(0.90)	2.46
BAMD	0.52	(0.04)	(0.12)	0.00	0.69	(0.53)	1.16	(1.18)	2.77
LSAT	0.55	(0.10)	0.00	(0.07)	0.00	0.00	1.14	(1.22)	3.24
SIXS	0.57	0.04	0.02	0.15	0.55	(0.63)	1.30	(0.87)	3.52
STNC	0.66	0.00	(0.01)	0.09	0.69	(0.69)	1.31	(1.30)	3.02
IFGL	0.42	0.03	(0.03)	0.16	0.52	(0.42)	0.89	(0.88)	2.37
INCE	0.41	0.06	0.05	0.20	0.21	(0.44)	0.96	(0.77)	2.19

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