United States Correlations

UNL Etf

USD 7.49 0.24 3.10%

The current 90-days correlation between United States 12 and Barclays Capital is 0.15 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as United States moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if United States 12 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

United States Correlation With Market

Good diversification

The correlation between United States 12 and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United States 12 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 United States 12. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving against United Etf

0.49	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.43	BAC	Bank of America Aggressive Push	Pair Corr
0.42	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.35	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	GAZ	USL	UGA	FCG	KOLD
GAZ		-0.06	-0.23	-0.07	-0.09	GAZ
USL	-0.06		0.92	0.66	-0.07	USL
UGA	-0.23	0.92		0.73	0.0	UGA
FCG	-0.07	0.66	0.73		-0.22	FCG
KOLD	-0.09	-0.07	0.0	-0.22		KOLD
	GAZ	USL	UGA	FCG	KOLD

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

UGA	+ 0.92	USL
FCG	+ 0.73	UGA
FCG	+ 0.66	USL
KOLD	+ 0.0	UGA

High negative correlations

UGA	- 0.23	GAZ
KOLD	- 0.22	FCG
KOLD	- 0.09	GAZ
KOLD	- 0.07	USL
FCG	- 0.07	GAZ
USL	- 0.06	GAZ

United States Constituents Risk-Adjusted Indicators

There is a big difference between United Etf performing well and United States 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 United States' 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
GAZ	1.46	(0.22)	0.00	(2.94)	0.00	0.00	3.51	(4.07)	15.01
USL	1.49	0.02	(0.04)	(0.27)	1.89	(1.56)	2.81	(3.41)	8.72
UGA	1.53	0.05	(0.02)	0.62	1.98	(1.51)	3.17	(3.42)	9.49
FCG	1.21	0.01	0.00	0.11	1.50	(1.25)	2.11	(2.46)	6.42
KOLD	4.42	(0.19)	0.00	(0.23)	0.00	0.00	7.49	(10.23)	28.78

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC