Peerless Option Correlations

WEEL Etf

20.75 0.03 0.14%

The current 90-days correlation between Peerless Option Income and Northern Lights is 0.73 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Peerless Option moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Peerless Option Income moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Peerless Option Correlation With Market

Poor diversification

The correlation between Peerless Option Income and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Peerless Option Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Peerless Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Peerless Option Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

Moving together with Peerless Etf

0.92	JEPI	JPMorgan Equity Premium	Pair Corr
0.93	XYLD	Global X SP	Pair Corr
0.93	DIVO	Amplify CWP Enhanced	Pair Corr
0.9	RYLD	Global X Russell	Pair Corr
0.78	EQTIX	Shelton E Value	Pair Corr
0.92	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.72	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.7	KNG	FT Cboe Vest	Pair Corr
0.77	EQTKX	Shelton E Value	Pair Corr
0.92	BUYW	Main Buywrite ETF	Pair Corr
0.72	WSML	iShares MSCI World	Pair Corr
0.66	BITI	ProShares Trust	Pair Corr
0.61	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.86	PULS	PGIM Ultra Short	Pair Corr
0.81	MDBX	Tradr 2X Long	Pair Corr
0.95	CPSR	Calamos SP 500	Pair Corr
0.69	MCD	McDonalds	Pair Corr
0.77	WMT	Walmart Common Stock	Pair Corr
0.77	MRK	Merck Company Aggressive Push	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr
0.84	BAC	Bank of America	Pair Corr
0.73	KO	Coca Cola	Pair Corr
0.83	DD	Dupont De Nemours	Pair Corr
0.65	INTC	Intel Sell-off Trend	Pair Corr

Moving against Peerless Etf

0.81	JEM	707 Cayman Holdings	Pair Corr
0.8	MPAY	Exchange Traded Concepts	Pair Corr
0.47	SWIN	Alps Earnings Call This Week	Pair Corr
0.7	PG	Procter Gamble	Pair Corr
0.63	HD	Home Depot	Pair Corr
0.56	MSFT	Microsoft	Pair Corr
0.42	CVX	Chevron Corp	Pair Corr
0.4	HPQ	HP Inc	Pair Corr
0.35	VZ	Verizon Communications Sell-off Trend	Pair Corr

Related Correlations Analysis

	DUKQ	ITDI	SCAP	DTRE	SDTY	QLVE	RBLD	PSFO	OVS	PEMX
DUKQ		0.95	0.66	0.4	0.8	0.44	0.65	0.93	0.91	0.55	DUKQ
ITDI	0.95		0.65	0.46	0.91	0.63	0.64	0.95	0.82	0.77	ITDI
SCAP	0.66	0.65		-0.08	0.7	0.02	0.02	0.73	0.79	0.35	SCAP
DTRE	0.4	0.46	-0.08		0.27	0.7	0.6	0.32	0.33	0.48	DTRE
SDTY	0.8	0.91	0.7	0.27		0.61	0.43	0.93	0.68	0.85	SDTY
QLVE	0.44	0.63	0.02	0.7	0.61		0.62	0.51	0.18	0.84	QLVE
RBLD	0.65	0.64	0.02	0.6	0.43	0.62		0.49	0.39	0.46	RBLD
PSFO	0.93	0.95	0.73	0.32	0.93	0.51	0.49		0.83	0.69	PSFO
OVS	0.91	0.82	0.79	0.33	0.68	0.18	0.39	0.83		0.39	OVS
PEMX	0.55	0.77	0.35	0.48	0.85	0.84	0.46	0.69	0.39		PEMX
	DUKQ	ITDI	SCAP	DTRE	SDTY	QLVE	RBLD	PSFO	OVS	PEMX

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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

ITDI	+ 0.95	DUKQ
PSFO	+ 0.95	ITDI
PSFO	+ 0.93	DUKQ
PSFO	+ 0.93	SDTY
OVS	+ 0.91	DUKQ
SDTY	+ 0.91	ITDI

High negative correlations

DTRE

- 0.08

SCAP

Peerless Option Constituents Risk-Adjusted Indicators

There is a big difference between Peerless Etf performing well and Peerless Option 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 Peerless Option'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
DUKQ	0.63	(0.03)	(0.02)	0.03	0.95	(0.58)	1.35	(1.24)	3.47
ITDI	0.58	(0.01)	(0.01)	0.05	0.80	(0.53)	1.10	(1.30)	3.20
SCAP	0.78	(0.01)	0.00	0.05	1.03	(0.77)	1.55	(1.74)	4.33
DTRE	0.52	(0.03)	(0.07)	0.01	0.72	(0.50)	1.00	(1.19)	3.47
SDTY	0.55	0.01	0.00	0.06	0.74	(0.56)	1.24	(1.08)	3.19
QLVE	0.50	(0.01)	(0.05)	0.04	0.66	(0.55)	1.00	(0.98)	3.50
RBLD	0.68	(0.04)	(0.04)	0.02	0.95	(0.61)	1.09	(1.49)	3.38
PSFO	0.35	0.00	(0.06)	0.05	0.39	(0.39)	0.80	(0.81)	2.02
OVS	0.95	(0.03)	0.00	0.04	1.25	(0.97)	2.09	(2.01)	5.28
PEMX	0.80	0.04	0.03	0.10	0.98	(0.85)	1.42	(1.78)	5.21

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