VanEck CEF Correlations

The current 90-days correlation between VanEck CEF Municipal and VanEck Long Muni is 0.61 (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

Significant diversification

The correlation between VanEck CEF Municipal and DJI is 0.06 (i.e., Significant 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. 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 against VanEck Etf

0.42	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.39	BTC	Grayscale Bitcoin Mini	Pair Corr
0.39	IBIT	iShares Bitcoin Trust Aggressive Push	Pair Corr
0.38	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.38	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.34	ETH	Grayscale Ethereum Mini	Pair Corr
0.33	USFR	WisdomTree Floating Rate	Pair Corr
0.43	MSTY	YieldMax MSTR Option	Pair Corr
0.42	YBIT	Tidal Trust II	Pair Corr
0.41	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.4	WGMI	Valkyrie Bitcoin Miners	Pair Corr

Related Correlations Analysis

	MLN	SHYD	HYMB	HYD	SMB
MLN		0.11	0.0	0.9	0.88	MLN
SHYD	0.11		0.0	0.44	0.32	SHYD
HYMB	0.0	0.0		0.0	0.0	HYMB
HYD	0.9	0.44	0.0		0.92	HYD
SMB	0.88	0.32	0.0	0.92		SMB
	MLN	SHYD	HYMB	HYD	SMB

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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

SMB	+ 0.92	HYD
HYD	+ 0.9	MLN
SMB	+ 0.88	MLN
HYD	+ 0.44	SHYD
SMB	+ 0.32	SHYD
SHYD	+ 0.11	MLN

High negative correlations

SMB	- 0.0	HYMB
HYD	- 0.0	HYMB
HYMB	- 0.0	SHYD
HYMB	- 0.0	MLN

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	0.27	0.02	(0.25)	0.02	0.46	(0.30)	0.56	(0.49)	2.89
SHYD	0.19	0.02	(0.38)	(0.54)	0.16	(0.21)	0.49	(0.44)	1.11
HYMB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
HYD	0.19	0.02	(0.30)	(0.04)	0.35	(0.17)	0.38	(0.44)	1.92
SMB	0.07	0.00	(0.77)	0.18	0.10	(0.09)	0.12	(0.17)	0.58

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