VanEck CEF Correlations

XMPT Etf

USD 21.88 0.01 0.05%

The current 90-days correlation between VanEck CEF Municipal and VanEck Long Muni is 0.66 (i.e., Poor diversification). The correlation of VanEck CEF 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.

VanEck CEF Correlation With Market

Weak diversification

The correlation between VanEck CEF Municipal and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck CEF Municipal 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 VanEck CEF Municipal. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with VanEck Etf

0.91	HYD	VanEck High Yield	Pair Corr
0.7	SHYD	VanEck Short High	Pair Corr
0.95	FMHI	First Trust Municipal	Pair Corr
0.9	FLMI	Franklin Liberty Int	Pair Corr
0.86	HYMU	BlackRock High Yield Symbol Change	Pair Corr
0.88	FXY	Invesco CurrencyShares	Pair Corr
0.82	PMBS	PIMCO Mortgage Backed	Pair Corr
0.7	PUSH	PGIM ETF Trust	Pair Corr
0.69	YLD	Principal Active High	Pair Corr
0.69	JNUG	Direxion Daily Junior	Pair Corr
0.66	SPHY	SPDR Portfolio High	Pair Corr
0.63	EURL	Direxion Daily FTSE	Pair Corr
0.71	RAYD	Rayliant Quantitative	Pair Corr
0.67	HYLB	Xtrackers USD High	Pair Corr
0.69	JHMD	John Hancock Multifactor	Pair Corr
0.78	SCZ	iShares MSCI EAFE	Pair Corr
0.78	UFIV	US Treasury 5	Pair Corr
0.77	FEMB	First Trust Emerging	Pair Corr
0.71	FJP	First Trust Japan	Pair Corr
0.73	IIGD	Invesco Investment Grade	Pair Corr
0.77	ABEQ	Absolute Core Strategy	Pair Corr
0.8	SCHY	Schwab International	Pair Corr
0.67	PPH	VanEck Pharmaceutical ETF	Pair Corr
0.67	AAACX	A3 Alternative Credit	Pair Corr

Moving against VanEck Etf

0.72

SDP

ProShares UltraShort

Pair Corr

Related Correlations Analysis

	MLN	SHYD	HYMB	HYD	SMB
MLN		0.39	0.85	0.85	0.48	MLN
SHYD	0.39		0.77	0.74	0.94	SHYD
HYMB	0.85	0.77		0.95	0.81	HYMB
HYD	0.85	0.74	0.95		0.82	HYD
SMB	0.48	0.94	0.81	0.82		SMB
	MLN	SHYD	HYMB	HYD	SMB

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VanEck CEF Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck CEF 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 VanEck CEF'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
MLN	0.33	(0.03)	0.00	(0.29)	0.00	0.00	0.57	(0.68)	1.53
SHYD	0.22	0.00	0.27	0.23	0.23	(0.23)	0.45	(0.36)	1.11
HYMB	0.26	(0.01)	0.00	(0.27)	0.00	0.00	0.47	(0.59)	1.49
HYD	0.25	(0.01)	0.00	(0.25)	0.00	0.00	0.45	(0.69)	1.58
SMB	0.07	0.00	0.57	(0.09)	0.03	(0.09)	0.12	(0.18)	0.41

Trending Assets

MLN

VanEck Long Muni

17.64 -0.03 -0.17

HYD

VanEck High Yield

51.89 0.06 0.12

HYMB

SPDR Nuveen Bloomberg

25.74 0.06 0.23

SMB

VanEck Short Muni

17.20 0.01 0.06

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