Virtus Reaves Correlations

UTES Etf

USD 69.08 0.81 1.19%

The current 90-days correlation between Virtus Reaves Utilities and Invesco is 0.03 (i.e., Significant diversification). The correlation of Virtus Reaves 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.

Virtus Reaves Correlation With Market

Good diversification

The correlation between Virtus Reaves Utilities and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Reaves Utilities 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 Virtus Reaves Utilities. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Virtus Etf

0.74	FXU	First Trust Utilities	Pair Corr
0.65	HUM	Humana Inc	Pair Corr
0.67	BST	BlackRock Science Tech	Pair Corr
0.65	FCUS	Pinnacle Focused Opp	Pair Corr
0.61	ITOT	iShares Core SP	Pair Corr
0.68	IEO	iShares Oil Gas	Pair Corr
0.62	ULTY	Tidal Trust II	Pair Corr

Moving against Virtus Etf

0.4	RNRG	Global X Renewable	Pair Corr
0.4	YLCO	Global X YieldCo	Pair Corr

Related Correlations Analysis

	RYU	PUI	PSCU	FXU	JXI
RYU		0.02	0.22	0.23	-0.08	RYU
PUI	0.02		0.75	0.93	0.79	PUI
PSCU	0.22	0.75		0.63	0.6	PSCU
FXU	0.23	0.93	0.63		0.64	FXU
JXI	-0.08	0.79	0.6	0.64		JXI
	RYU	PUI	PSCU	FXU	JXI

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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

FXU	+ 0.93	PUI
JXI	+ 0.79	PUI
PSCU	+ 0.75	PUI
JXI	+ 0.64	FXU
FXU	+ 0.63	PSCU
JXI	+ 0.6	PSCU

High negative correlations

JXI

- 0.08

RYU

Virtus Reaves Constituents Risk-Adjusted Indicators

There is a big difference between Virtus Etf performing well and Virtus Reaves 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 Virtus Reaves' 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
RYU	0.80	(0.03)	0.00	(0.07)	0.00	0.00	1.47	(1.94)	5.33
PUI	0.83	(0.01)	(0.06)	(0.09)	1.12	(0.86)	1.99	(1.92)	5.25
PSCU	0.84	(0.01)	(0.06)	0.00	1.16	(0.85)	1.69	(1.66)	9.12
FXU	0.82	0.01	(0.05)	(4.14)	1.03	(0.90)	1.81	(2.03)	4.95
JXI	0.76	(0.09)	0.00	(0.18)	0.00	0.00	1.38	(1.73)	3.96

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