ETFS Morningstar Correlations

TECH Etf

113.01 1.17 1.05%

The current 90-days correlation between ETFS Morningstar Global and ETFS Battery Tech is 0.42 (i.e., Very weak diversification). The correlation of ETFS Morningstar 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.

ETFS Morningstar Correlation With Market

Average diversification

The correlation between ETFS Morningstar Global and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETFS Morningstar Global and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to ETFS Morningstar could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ETFS Morningstar 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 ETFS Morningstar - 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 ETFS Morningstar Global to buy it.

Moving together with ETFS Etf

0.87	GGUS	BetaShares Geared Equity	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.96	IJR	iShares Core SP	Pair Corr
0.97	VTS	Vanguard Total Market	Pair Corr

Related Correlations Analysis

	ACDC	LNAS	SNAS	FANG	ZUSD	CURE	GOLD	ETPMAG	ROBO
ACDC		0.84	0.2	0.72	0.0	0.09	0.7	0.71	0.86	ACDC
LNAS	0.84		0.3	0.86	0.0	0.31	0.66	0.65	0.93	LNAS
SNAS	0.2	0.3		0.49	0.0	-0.2	0.27	0.11	0.44	SNAS
FANG	0.72	0.86	0.49		0.0	0.3	0.76	0.67	0.91	FANG
ZUSD	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	ZUSD
CURE	0.09	0.31	-0.2	0.3	0.0		0.12	0.15	0.3	CURE
GOLD	0.7	0.66	0.27	0.76	0.0	0.12		0.9	0.71	GOLD
ETPMAG	0.71	0.65	0.11	0.67	0.0	0.15	0.9		0.64	ETPMAG
ROBO	0.86	0.93	0.44	0.91	0.0	0.3	0.71	0.64		ROBO
	ACDC	LNAS	SNAS	FANG	ZUSD	CURE	GOLD	ETPMAG	ROBO

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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

ROBO	+ 0.93	LNAS
ROBO	+ 0.91	FANG
ETPMAG	+ 0.9	GOLD
ROBO	+ 0.86	ACDC
FANG	+ 0.86	LNAS
LNAS	+ 0.84	ACDC

High negative correlations

CURE	- 0.2	SNAS
ROBO	- 0.0	ZUSD
ETPMAG	- 0.0	ZUSD
GOLD	- 0.0	ZUSD
CURE	- 0.0	ZUSD
ZUSD	- 0.0	FANG

ETFS Morningstar Constituents Risk-Adjusted Indicators

There is a big difference between ETFS Etf performing well and ETFS Morningstar 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 ETFS Morningstar'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
ACDC	0.96	0.05	(0.06)	2.25	1.10	(1.02)	2.05	(1.62)	5.39
LNAS	1.83	0.09	0.02	0.24	2.58	(1.78)	3.83	(3.79)	11.41
SNAS	58.42	31.99	11.18	(1.38)	0.00	(80.49)	3.97	(3.79)	1,959
FANG	1.03	0.21	0.07	6.00	1.22	(1.10)	2.34	(1.69)	5.57
ZUSD	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
CURE	1.08	(0.09)	(0.07)	0.00	1.60	(1.06)	2.90	(2.61)	9.80
GOLD	0.69	0.20	0.02	(0.29)	1.00	(0.72)	1.27	(1.20)	5.81
ETPMAG	1.37	0.10	0.00	0.83	1.58	(1.59)	3.25	(2.87)	11.16
ROBO	0.73	0.11	0.01	0.73	0.96	(0.77)	1.60	(1.98)	5.41

Be your own money manager

Our tools can tell you how much better you can do entering a position in ETFS Morningstar 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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