Texas Capital Correlations

TXSS Etf

26.94 0.00 0.00%

The current 90-days correlation between Texas Capital and First Trust Nasdaq is 0.01 (i.e., Significant 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 -0.7 (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

0.67

HPQ

HP Inc

Pair Corr

Moving against Texas Etf

0.76	VB	Vanguard Small Cap	Pair Corr
0.75	IWM	iShares Russell 2000	Pair Corr
0.75	VRTIX	Vanguard Russell 2000	Pair Corr
0.75	VTWO	Vanguard Russell 2000	Pair Corr
0.74	FNDA	Schwab Fundamental Small	Pair Corr
0.73	PRFZ	Invesco FTSE RAFI	Pair Corr
0.71	IJR	iShares Core SP	Pair Corr
0.71	SPSM	SPDR Portfolio SP	Pair Corr
0.71	DFAS	Dimensional Small Cap	Pair Corr
0.71	VIOO	Vanguard SP Small	Pair Corr
0.71	SIVR	abrdn Physical Silver	Pair Corr
0.69	MULL	GraniteShares 2x Long	Pair Corr
0.69	KORU	Direxion Daily South	Pair Corr
0.69	NUGT	Direxion Daily Gold	Pair Corr
0.69	SIL	Global X Silver	Pair Corr
0.68	JNUG	Direxion Daily Junior	Pair Corr
0.68	GDXU	MicroSectors Gold Miners	Pair Corr
0.68	AHYB	American Century ETF	Pair Corr
0.67	MUU	Direxion Daily MU	Pair Corr
0.64	AGQ	ProShares Ultra Silver	Pair Corr
0.62	RDIV	Invesco SP Ultra	Pair Corr
0.58	SHNY	Microsectors Gold	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.8	BA	Boeing	Pair Corr
0.78	VBK	Vanguard Small Cap	Pair Corr
0.76	INTC	Intel	Pair Corr
0.7	BINC	BlackRock ETF Trust	Pair Corr
0.67	OASC	OneAscent Small Cap	Pair Corr
0.67	CVX	Chevron Corp	Pair Corr
0.66	CAT	Caterpillar	Pair Corr
0.63	MRK	Merck Company Aggressive Push	Pair Corr
0.57	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.55	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.5	HD	Home Depot	Pair Corr
0.47	JNJ	Johnson Johnson	Pair Corr
0.36	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.42	0.44	0.17	-0.59	0.03	0.31	0.43	0.45	META
MSFT	-0.41		0.75	-0.56	-0.27	0.52	0.62	0.04	-0.8	-0.83	MSFT
UBER	-0.42	0.75		-0.51	-0.08	0.63	0.26	-0.1	-0.77	-0.61	UBER
F	0.44	-0.56	-0.51		-0.18	-0.43	-0.1	0.38	0.71	0.65	F
T	0.17	-0.27	-0.08	-0.18		0.04	-0.58	-0.22	-0.01	0.2	T
A	-0.59	0.52	0.63	-0.43	0.04		0.14	-0.07	-0.47	-0.65	A
CRM	0.03	0.62	0.26	-0.1	-0.58	0.14		0.59	-0.29	-0.64	CRM
JPM	0.31	0.04	-0.1	0.38	-0.22	-0.07	0.59		0.25	-0.11	JPM
MRK	0.43	-0.8	-0.77	0.71	-0.01	-0.47	-0.29	0.25		0.72	MRK
XOM	0.45	-0.83	-0.61	0.65	0.2	-0.65	-0.64	-0.11	0.72		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	+ 0.72	MRK
MRK	+ 0.71	F
XOM	+ 0.65	F
A	+ 0.63	UBER
CRM	+ 0.62	MSFT

High negative correlations

XOM	- 0.83	MSFT
MRK	- 0.8	MSFT
MRK	- 0.77	UBER
XOM	- 0.65	A
XOM	- 0.64	CRM
XOM	- 0.61	UBER

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	1.55	0.02	(0.01)	(0.47)	1.62	(1.79)	3.43	(2.72)	13.36
MSFT	1.23	(0.34)	0.00	1.81	0.00	0.00	1.78	(2.70)	13.28
UBER	1.60	(0.39)	0.00	(0.56)	0.00	0.00	2.46	(5.06)	11.09
F	1.22	0.10	0.05	0.85	1.20	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.13	0.84	0.84	(1.06)	2.02	(1.54)	4.31
A	1.22	(0.23)	0.00	(0.13)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.64	(0.36)	0.00	3.41	0.00	0.00	2.94	(5.31)	12.37
JPM	1.12	0.05	0.01	(0.31)	1.63	(1.14)	2.18	(3.11)	7.38
MRK	1.32	0.48	0.32	0.86	1.07	(1.63)	3.59	(1.98)	8.09
XOM	1.15	0.38	0.28	0.71	0.92	(1.37)	2.69	(2.11)	5.85

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.

Managed Portfolio Series DoubleLine ETF Trust ProShares Ultra Telecommunications TrueShares Structured Outcome Putnam ETF Trust JP Morgan Exchange Traded First Trust Bloomberg Cambria Cannabis ETF First Trust Nasdaq American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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