BondBloxx ETF Correlations

XHYE Etf

USD 39.08 0.01 0.03%

The current 90-days correlation between BondBloxx ETF Trust and First Trust Senior is 0.3 (i.e., Weak diversification). The correlation of BondBloxx ETF 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.

BondBloxx ETF Correlation With Market

Very weak diversification

The correlation between BondBloxx ETF Trust and DJI is 0.48 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BondBloxx ETF Trust and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with BondBloxx Etf

0.66	ANGL	VanEck Fallen Angel	Pair Corr
0.65	FALN	iShares Fallen Angels Sell-off Trend	Pair Corr

Moving against BondBloxx Etf

0.41	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.4	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	FTSL	LMBS	FTSM	FIXD	FMB
FTSL		-0.38	0.95	-0.8	-0.34	FTSL
LMBS	-0.38		-0.21	0.84	0.87	LMBS
FTSM	0.95	-0.21		-0.68	-0.2	FTSM
FIXD	-0.8	0.84	-0.68		0.75	FIXD
FMB	-0.34	0.87	-0.2	0.75		FMB
	FTSL	LMBS	FTSM	FIXD	FMB

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

FTSM	+ 0.95	FTSL
FMB	+ 0.87	LMBS
FIXD	+ 0.84	LMBS
FMB	+ 0.75	FIXD

High negative correlations

FIXD	- 0.8	FTSL
FIXD	- 0.68	FTSM
LMBS	- 0.38	FTSL
FMB	- 0.34	FTSL
FTSM	- 0.21	LMBS
FMB	- 0.2	FTSM

BondBloxx ETF Constituents Risk-Adjusted Indicators

There is a big difference between BondBloxx Etf performing well and BondBloxx ETF 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 BondBloxx ETF'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
FTSL	0.07	0.02	(0.60)	0.53	0.00	(0.09)	0.18	(0.11)	0.88
LMBS	0.12	(0.01)	(0.68)	0.73	0.17	(0.12)	0.23	(0.33)	0.88
FTSM	0.03	0.01	(3.65)	(2.05)	0.00	(0.04)	0.07	(0.03)	0.13
FIXD	0.25	(0.04)	0.00	0.64	0.00	0.00	0.51	(0.63)	1.38
FMB	0.16	0.01	(0.42)	0.05	0.27	(0.16)	0.33	(0.33)	1.54

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