FlexShares Morningstar Correlations

TLTD Etf

USD 71.44 0.82 1.16%

The current 90-days correlation between FlexShares Morningstar and FlexShares Morningstar Emerging is 0.83 (i.e., Very poor diversification). The correlation of FlexShares 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.

FlexShares Morningstar Correlation With Market

Significant diversification

The correlation between FlexShares Morningstar Develop and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FlexShares Morningstar Develop 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 FlexShares Morningstar Developed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with FlexShares Etf

0.93	EFV	iShares MSCI EAFE	Pair Corr
0.91	FNDF	Schwab Fundamental	Pair Corr
0.91	VYMI	Vanguard International	Pair Corr
0.74	IDV	iShares International	Pair Corr
0.89	DFIV	Dimensional International	Pair Corr
0.93	IVLU	iShares Edge MSCI	Pair Corr
0.96	RODM	Hartford Multifactor	Pair Corr
0.84	PXF	Invesco FTSE RAFI	Pair Corr
0.84	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.69	PID	Invesco International	Pair Corr

Related Correlations Analysis

	TLTE	TILT	IQDF	TDTT	IQDY
TLTE		-0.04	0.83	-0.09	0.68	TLTE
TILT	-0.04		0.08	0.65	0.19	TILT
IQDF	0.83	0.08		0.34	0.95	IQDF
TDTT	-0.09	0.65	0.34		0.52	TDTT
IQDY	0.68	0.19	0.95	0.52		IQDY
	TLTE	TILT	IQDF	TDTT	IQDY

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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

IQDY	+ 0.95	IQDF
IQDF	+ 0.83	TLTE
IQDY	+ 0.68	TLTE
TDTT	+ 0.65	TILT
IQDY	+ 0.52	TDTT
TDTT	+ 0.34	IQDF

High negative correlations

TDTT	- 0.09	TLTE
TILT	- 0.04	TLTE

FlexShares Morningstar Constituents Risk-Adjusted Indicators

There is a big difference between FlexShares Etf performing well and FlexShares 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 FlexShares 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
TLTE	0.60	(0.07)	0.00	(0.39)	0.00	0.00	1.28	(1.73)	4.57
TILT	0.62	0.07	0.00	2.28	0.80	(0.63)	1.22	(1.14)	6.43
IQDF	0.59	(0.02)	0.00	(0.31)	0.00	0.00	1.17	(1.37)	4.44
TDTT	0.10	0.00	(0.47)	0.00	0.02	(0.13)	0.17	(0.17)	0.68
IQDY	0.62	(0.01)	(0.08)	(0.05)	0.89	(0.59)	1.16	(1.62)	4.61

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