Elkhorn Correlations

XM Etf

USD 18.14 0.00 0.00%

The current 90-days correlation between Elkhorn and Bill Com Holdings is -0.03 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Elkhorn moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elkhorn moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Elkhorn Correlation With Market

Good diversification

The correlation between Elkhorn 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 Elkhorn and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Elkhorn Etf

0.63	DRVN	Driven Brands Holdings	Pair Corr
0.68	WINN	Harbor Long Term	Pair Corr
0.63	HHH	Howard Hughes	Pair Corr
0.78	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.71	OEF	iShares SP 100	Pair Corr
0.76	JEPI	JPMorgan Equity Premium	Pair Corr
0.62	TQQQ	ProShares UltraPro QQQ Aggressive Push	Pair Corr
0.66	DIVB	iShares Dividend	Pair Corr
0.7	VIS	Vanguard Industrials	Pair Corr
0.7	VOO	Vanguard SP 500	Pair Corr
0.69	DISO	Tidal Trust II	Pair Corr
0.68	QQQ	Invesco QQQ Trust Aggressive Push	Pair Corr
0.61	YBIT	Tidal Trust II	Pair Corr
0.74	XLC	Communication Services	Pair Corr
0.73	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.75	DIVG	Invesco Exchange Traded	Pair Corr
0.61	QQQE	Direxion NASDAQ 100	Pair Corr
0.7	IVV	iShares Core SP	Pair Corr
0.75	PUTW	WisdomTree CBOE SP	Pair Corr
0.68	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.72	VONG	Vanguard Russell 1000	Pair Corr
0.7	LRGC	AB Active ETFs,	Pair Corr
0.77	FDN	First Trust Dow	Pair Corr
0.68	IBIT	iShares Bitcoin Trust Aggressive Push	Pair Corr
0.61	VIG	Vanguard Dividend	Pair Corr

Moving against Elkhorn Etf

0.68	JAMF	Jamf Holding	Pair Corr
0.64	ERO	Ero Copper Corp	Pair Corr
0.51	RODM	Hartford Multifactor	Pair Corr
0.46	GRNB	VanEck Green Bond	Pair Corr

Related Correlations Analysis

	BILL	GTLB	MNDY	DDOG	FROG	BL	MANH	AZPN	DV	ANSS
BILL		0.84	0.08	0.7	0.67	0.74	0.15	0.75	0.68	0.82	BILL
GTLB	0.84		0.3	0.7	0.83	0.73	0.25	0.76	0.43	0.79	GTLB
MNDY	0.08	0.3		0.55	0.58	0.59	0.53	0.47	-0.18	0.46	MNDY
DDOG	0.7	0.7	0.55		0.76	0.84	0.49	0.72	0.31	0.81	DDOG
FROG	0.67	0.83	0.58	0.76		0.86	0.59	0.8	0.27	0.82	FROG
BL	0.74	0.73	0.59	0.84	0.86		0.6	0.85	0.26	0.84	BL
MANH	0.15	0.25	0.53	0.49	0.59	0.6		0.48	-0.24	0.46	MANH
AZPN	0.75	0.76	0.47	0.72	0.8	0.85	0.48		0.23	0.75	AZPN
DV	0.68	0.43	-0.18	0.31	0.27	0.26	-0.24	0.23		0.53	DV
ANSS	0.82	0.79	0.46	0.81	0.82	0.84	0.46	0.75	0.53		ANSS
	BILL	GTLB	MNDY	DDOG	FROG	BL	MANH	AZPN	DV	ANSS

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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

BL	+ 0.86	FROG
AZPN	+ 0.85	BL
GTLB	+ 0.84	BILL
BL	+ 0.84	DDOG
ANSS	+ 0.84	BL
FROG	+ 0.83	GTLB

High negative correlations

DV	- 0.24	MANH
DV	- 0.18	MNDY

Elkhorn Constituents Risk-Adjusted Indicators

There is a big difference between Elkhorn Etf performing well and Elkhorn 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 Elkhorn'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
BILL	2.41	0.85	0.54	0.53	1.11	(3.04)	7.45	(2.86)	20.98
GTLB	2.24	0.36	0.21	0.32	1.81	(2.77)	5.93	(3.26)	26.58
MNDY	2.03	0.00	0.03	0.12	3.55	(2.03)	5.04	(3.23)	21.57
DDOG	1.68	0.34	0.18	0.46	1.62	(1.98)	4.39	(2.63)	8.50
FROG	1.75	0.12	0.07	0.20	2.13	(1.77)	4.43	(3.72)	13.97
BL	1.39	0.15	0.13	0.22	1.30	(1.52)	3.61	(2.19)	7.65
MANH	1.33	(0.03)	0.02	0.10	1.86	(1.38)	3.13	(2.66)	10.50
AZPN	1.03	0.13	0.08	0.27	1.08	(1.10)	2.39	(2.08)	8.52
DV	1.61	(0.07)	(0.01)	0.07	1.93	(1.82)	3.51	(4.04)	10.96
ANSS	1.18	0.01	0.01	0.13	1.37	(1.21)	2.76	(2.32)	10.35

View Elkhorn Related Equities

Bill Com Holdings Gitlab Inc MondayCom Datadog Jfrog Blackline Manhattan Associates Aspen Technology DoubleVerify Holdings ANSYS Inc Bentley Systems Descartes Systems Group Guidewire Software Tyler Technologies Blackbaud

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