Texas Capital Correlations

TXSS Etf

26.94 0.00 0.00%

The current 90-days correlation between Texas Capital and Tidal ETF Trust is -0.15 (i.e., Good diversification). The correlation of Texas Capital 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.

Texas Capital Correlation With Market

Excellent diversification

The correlation between Texas Capital and DJI is -0.54 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Texas Capital and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Texas Etf

Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Texas Etf

0.84	ARKW	ARK Next Generation Low Volatility	Pair Corr
0.84	HUM	Humana Inc	Pair Corr

Moving against Texas Etf

0.66	OIH	VanEck Oil Services	Pair Corr
0.62	FNDA	Schwab Fundamental Small	Pair Corr
0.62	SPSM	SPDR Portfolio SP	Pair Corr
0.62	VIOO	Vanguard SP Small	Pair Corr
0.61	IJR	iShares Core SP	Pair Corr
0.59	DFAS	Dimensional Small Cap	Pair Corr
0.5	VB	Vanguard Small Cap	Pair Corr
0.46	EWC	iShares MSCI Canada	Pair Corr
0.43	VRTIX	Vanguard Russell 2000	Pair Corr
0.41	IWM	iShares Russell 2000	Pair Corr
0.41	VTWO	Vanguard Russell 2000	Pair Corr
0.36	PRFZ	Invesco FTSE RAFI	Pair Corr
0.72	DFIV	Dimensional International	Pair Corr
0.69	FNK	First Trust Mid	Pair Corr
0.68	PID	Invesco International	Pair Corr
0.67	ISTB	iShares Core 1	Pair Corr
0.66	CCNR	CoreCommodity Natural	Pair Corr
0.63	TAXT	Northern Trust Tax	Pair Corr
0.63	CFA	VictoryShares 500	Pair Corr
0.6	AVMC	American Century ETF	Pair Corr
0.59	IYR	iShares Real Estate	Pair Corr
0.59	IGEB	iShares Edge Investment	Pair Corr
0.57	LGCF	Themes Cash Flow	Pair Corr
0.54	DIA	SPDR Dow Jones	Pair Corr
0.52	HCMAX	THE HILLMAN FUND Potential Growth	Pair Corr
0.45	LQIG	SPDR MarketAxess Inv	Pair Corr
0.41	UAUG	Innovator Equity Ultra	Pair Corr
0.38	URA	Global X Uranium	Pair Corr
0.33	GOCT	FT Cboe Vest	Pair Corr
0.73	AVUV	Avantis Small Cap	Pair Corr
0.73	DES	WisdomTree SmallCap	Pair Corr
0.71	KNGZ	First Trust Exchange	Pair Corr
0.69	DXJ	WisdomTree Japan Hedged	Pair Corr
0.67	EFA	iShares MSCI EAFE	Pair Corr
0.65	ILOW	AB Active ETFs	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.08	-0.11	0.0	0.13	-0.21	-0.03	0.14	-0.01	0.15	META
MSFT	-0.08		0.84	-0.57	-0.87	0.83	0.92	0.41	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.53	-0.77	0.85	0.76	0.25	-0.82	-0.83	UBER
F	0.0	-0.57	-0.53		0.35	-0.43	-0.45	-0.1	0.64	0.58	F
T	0.13	-0.87	-0.77	0.35		-0.71	-0.87	-0.34	0.79	0.79	T
A	-0.21	0.83	0.85	-0.43	-0.71		0.71	0.36	-0.75	-0.85	A
CRM	-0.03	0.92	0.76	-0.45	-0.87	0.71		0.57	-0.84	-0.9	CRM
JPM	0.14	0.41	0.25	-0.1	-0.34	0.36	0.57		-0.25	-0.43	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.75	-0.84	-0.25		0.92	MRK
XOM	0.15	-0.95	-0.83	0.58	0.79	-0.85	-0.9	-0.43	0.92		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

CRM	+ 0.92	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.83	MSFT
MRK	+ 0.79	T

High negative correlations

XOM	- 0.95	MSFT
MRK	- 0.92	MSFT
XOM	- 0.9	CRM
CRM	- 0.87	T
T	- 0.87	MSFT
XOM	- 0.85	A

Texas Capital Competition Risk-Adjusted Indicators

There is a big difference between Texas Etf performing well and Texas Capital 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 Texas Capital'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	1.45	0.03	0.01	0.08	1.59	(1.56)	2.38	(2.81)	13.69
MSFT	1.35	(0.25)	0.00	(0.52)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.58	(0.15)	0.00	(0.26)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.07)	0.00	(0.03)	0.00	0.00	3.61	(2.59)	9.82
T	1.06	0.19	0.12	(0.62)	0.93	(1.27)	3.87	(1.76)	7.44
A	1.22	(0.45)	0.00	(0.45)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.82	(0.20)	0.00	0.47	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.06)	(0.02)	0.00	1.84	(1.28)	2.34	(3.11)	8.17
MRK	1.21	0.19	0.11	0.54	1.27	(1.29)	2.54	(2.06)	7.10
XOM	1.32	0.44	0.27	2.84	1.08	(1.56)	2.90	(2.44)	6.83

Texas Capital Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Texas Capital etf to make a market-neutral strategy. Peer analysis of Texas Capital could also be used in its relative valuation, which is a method of valuing Texas Capital by comparing valuation metrics with similar companies.

Democracy International First Trust Bloomberg SPDR Series Trust Tidal ETF Trust WHITEWOLF Publicly Listed John Hancock Exchange Traded Harbor ETF Trust Sprott Nickel Miners Allspring Exchange Traded Funds Tidal ETF Trust American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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