IPath Series Correlations

VXZ Etf

USD 55.19 1.02 1.88%

The current 90-days correlation between iPath Series B and First Trust RiverFront is 0.06 (i.e., Significant 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 -0.75 (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 discontinued.

Moving together with IPath Etf

0.92	VXX	iPath Series B Low Volatility	Pair Corr
0.92	VIXY	ProShares VIX Short	Pair Corr
0.94	VIXM	ProShares VIX Mid	Pair Corr

Moving against IPath Etf

0.65	CEFD	ETRACS Monthly Pay	Pair Corr
0.64	DFEN	Direxion Daily Aerospace	Pair Corr
0.6	UDN	Invesco DB Dollar	Pair Corr
0.6	NUGT	Direxion Daily Gold	Pair Corr
0.49	DGP	DB Gold Double	Pair Corr
0.49	UGL	ProShares Ultra Gold	Pair Corr
0.44	USD	ProShares Ultra Semi Downward Rally	Pair Corr
0.86	UAUG	Innovator Equity Ultra	Pair Corr
0.81	NAPR	Innovator Nasdaq 100	Pair Corr
0.81	DAUG	FT Cboe Vest	Pair Corr
0.73	RSST	Return Stacked Stocks	Pair Corr
0.57	AUMI	Themes Gold Miners	Pair Corr
0.57	FNK	First Trust Mid	Pair Corr
0.54	ESGD	iShares ESG Aware	Pair Corr
0.53	DISV	Dimensional ETF Trust	Pair Corr
0.51	FTCS	First Trust Capital	Pair Corr
0.49	STXV	EA Series Trust	Pair Corr
0.49	FEM	First Trust Emerging	Pair Corr
0.45	MEXX	Direxion Daily MSCI	Pair Corr
0.45	SPDV	AAM SP 500	Pair Corr
0.43	DUSL	Direxion Daily Indus	Pair Corr
0.43	DXJ	WisdomTree Japan Hedged	Pair Corr
0.41	TAXT	Northern Trust Tax	Pair Corr
0.82	PAUG	Innovator Equity Power	Pair Corr
0.78	GPGCX	Grandeur Peak Global	Pair Corr
0.78	QTAP	Innovator Growth 100	Pair Corr
0.75	DIA	SPDR Dow Jones	Pair Corr
0.73	SLV	iShares Silver Trust Buyout Trend	Pair Corr
0.67	AHYB	American Century ETF	Pair Corr

Related Correlations Analysis

	HARD	EGGY	CEFZ	KNCT	NVDQ	RETL	XUDV	OZEM	SPBX	RFEM
HARD		0.1	0.78	0.9	-0.75	0.27	0.88	0.58	0.78	0.93	HARD
EGGY	0.1		0.28	0.24	-0.45	0.34	0.03	0.28	0.39	0.08	EGGY
CEFZ	0.78	0.28		0.89	-0.65	0.63	0.87	0.8	0.89	0.87	CEFZ
KNCT	0.9	0.24	0.89		-0.77	0.38	0.93	0.6	0.84	0.97	KNCT
NVDQ	-0.75	-0.45	-0.65	-0.77		-0.2	-0.63	-0.57	-0.75	-0.72	NVDQ
RETL	0.27	0.34	0.63	0.38	-0.2		0.47	0.69	0.68	0.35	RETL
XUDV	0.88	0.03	0.87	0.93	-0.63	0.47		0.62	0.81	0.96	XUDV
OZEM	0.58	0.28	0.8	0.6	-0.57	0.69	0.62		0.8	0.64	OZEM
SPBX	0.78	0.39	0.89	0.84	-0.75	0.68	0.81	0.8		0.81	SPBX
RFEM	0.93	0.08	0.87	0.97	-0.72	0.35	0.96	0.64	0.81		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

RFEM	+ 0.97	KNCT
RFEM	+ 0.96	XUDV
RFEM	+ 0.93	HARD
XUDV	+ 0.93	KNCT
KNCT	+ 0.9	HARD
KNCT	+ 0.89	CEFZ

High negative correlations

NVDQ	- 0.77	KNCT
SPBX	- 0.75	NVDQ
NVDQ	- 0.75	HARD
RFEM	- 0.72	NVDQ
NVDQ	- 0.65	CEFZ
XUDV	- 0.63	NVDQ

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	0.91	0.17	0.03	(1.36)	1.29	(0.95)	1.85	(2.09)	6.64
EGGY	1.21	0.01	(0.01)	0.13	2.22	(1.14)	2.48	(2.76)	13.09
CEFZ	0.47	0.02	(0.05)	0.15	0.55	(0.53)	1.10	(0.95)	3.93
KNCT	0.89	0.14	0.11	0.27	0.98	(0.97)	1.96	(1.81)	5.87
NVDQ	3.15	0.03	0.00	0.09	0.00	0.00	6.85	(5.75)	24.33
RETL	2.87	0.16	0.16	0.16	2.48	(3.81)	6.96	(5.50)	20.07
XUDV	0.59	0.16	0.19	0.34	0.14	(0.70)	1.34	(0.92)	3.41
OZEM	1.18	(0.03)	(0.02)	0.08	1.51	(1.23)	2.38	(2.26)	9.65
SPBX	0.27	0.01	(0.15)	0.14	0.22	(0.31)	0.59	(0.55)	1.83
RFEM	0.65	0.17	0.19	0.42	0.22	(0.81)	1.68	(0.88)	3.02

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