IPath Series Correlations

VXZ Etf

USD 52.85 0.70 1.31%

The current 90-days correlation between iPath Series B and First Trust RiverFront is -0.57 (i.e., Excellent diversification). The correlation of IPath Series 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.

IPath Series Correlation With Market

Pay attention - limited upside

The correlation between iPath Series B and DJI is -0.92 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding iPath Series B and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with IPath Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in iPath Series B. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with IPath Etf

0.98	VXX	iPath Series B Downward Rally	Pair Corr
0.98	VIXY	ProShares VIX Short Downward Rally	Pair Corr
1.0	VIXM	ProShares VIX Mid	Pair Corr
0.61	EUO	ProShares UltraShort Euro	Pair Corr

Moving against IPath Etf

0.91	VO	Vanguard Mid Cap	Pair Corr
0.88	TOT	Advisor Managed Port	Pair Corr
0.88	VTV	Vanguard Value Index	Pair Corr
0.82	VTI	Vanguard Total Stock	Pair Corr
0.79	SPY	SPDR SP 500	Pair Corr
0.79	IVV	iShares Core SP	Pair Corr
0.74	UDN	Invesco DB Dollar	Pair Corr
0.72	CEFD	ETRACS Monthly Pay	Pair Corr
0.6	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.52	YCS	ProShares UltraShort Yen	Pair Corr
0.86	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.85	BA	Boeing	Pair Corr
0.79	MRK	Merck Company Earnings Call Today	Pair Corr
0.73	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.61	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.58	INTC	Intel Aggressive Push	Pair Corr
0.5	AXP	American Express	Pair Corr
0.44	JPM	JPMorgan Chase	Pair Corr
0.43	PFE	Pfizer Inc Earnings Call Today	Pair Corr
0.42	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	HARD	EGGY	CEFZ	KNCT	NVDQ	RETL	XUDV	OZEM	SPBX	RFEM
HARD		0.03	0.74	0.76	-0.36	0.46	0.73	0.63	0.73	0.87	HARD
EGGY	0.03		-0.02	0.29	-0.71	-0.16	-0.09	-0.54	-0.13	-0.02	EGGY
CEFZ	0.74	-0.02		0.8	-0.15	0.83	0.95	0.77	0.89	0.88	CEFZ
KNCT	0.76	0.29	0.8		-0.47	0.6	0.77	0.48	0.8	0.9	KNCT
NVDQ	-0.36	-0.71	-0.15	-0.47		0.14	-0.07	0.18	-0.13	-0.3	NVDQ
RETL	0.46	-0.16	0.83	0.6	0.14		0.87	0.75	0.86	0.65	RETL
XUDV	0.73	-0.09	0.95	0.77	-0.07	0.87		0.81	0.92	0.88	XUDV
OZEM	0.63	-0.54	0.77	0.48	0.18	0.75	0.81		0.82	0.72	OZEM
SPBX	0.73	-0.13	0.89	0.8	-0.13	0.86	0.92	0.82		0.86	SPBX
RFEM	0.87	-0.02	0.88	0.9	-0.3	0.65	0.88	0.72	0.86		RFEM
	HARD	EGGY	CEFZ	KNCT	NVDQ	RETL	XUDV	OZEM	SPBX	RFEM

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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

XUDV	+ 0.95	CEFZ
SPBX	+ 0.92	XUDV
RFEM	+ 0.9	KNCT
SPBX	+ 0.89	CEFZ
RFEM	+ 0.88	CEFZ
RFEM	+ 0.88	XUDV

High negative correlations

NVDQ	- 0.71	EGGY
OZEM	- 0.54	EGGY
NVDQ	- 0.47	KNCT
NVDQ	- 0.36	HARD
RFEM	- 0.3	NVDQ
RETL	- 0.16	EGGY

IPath Series Constituents Risk-Adjusted Indicators

There is a big difference between IPath Etf performing well and IPath Series 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 IPath Series' 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
HARD	1.00	0.06	0.02	0.18	1.46	(0.98)	1.82	(2.34)	7.12
EGGY	1.30	(0.13)	0.00	(2.23)	0.00	0.00	2.37	(3.80)	8.03
CEFZ	0.47	0.04	(0.01)	1.05	0.61	(0.52)	1.16	(1.25)	3.93
KNCT	0.91	0.04	0.02	0.08	1.25	(0.87)	1.92	(2.18)	6.31
NVDQ	3.41	(0.04)	0.00	0.48	0.00	0.00	7.16	(6.14)	19.64
RETL	2.90	(0.05)	0.02	0.03	3.11	(3.96)	5.51	(5.50)	18.66
XUDV	0.64	0.07	0.05	0.35	0.60	(0.73)	1.32	(1.13)	3.23
OZEM	1.06	0.38	0.29	0.73	0.78	(1.22)	2.38	(1.90)	7.31
SPBX	0.23	0.02	(0.04)	0.10	0.23	(0.24)	0.59	(0.55)	1.83
RFEM	0.60	0.11	0.13	0.25	0.48	(0.69)	1.52	(1.07)	3.02

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