Mini Dow Correlations

Commodities . USA . 
Commodity . Mini Dow Jones
YMUSD Commodity   44,417  22.00  0.05%   
The current 90-days correlation between Mini Dow Jones and Copper is -0.05 (i.e., Good diversification). The correlation of Mini Dow 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.

Mini Dow Correlation With Market

Almost no diversification

The correlation between Mini Dow Jones and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Mini Dow Jones and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Mini Dow could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Mini Dow when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Mini Dow - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Mini Dow Jones to buy it.

Moving together with Mini Commodity

  0.81NVDA NVIDIAPairCorr
  0.64BMYMP Bristol Myers SquibbPairCorr
  0.82AMZN Amazon IncPairCorr
  0.76GOOG Alphabet Class CPairCorr
  0.77META Meta PlatformsPairCorr
  0.85COF Capital One Financial Fiscal Year End 23rd of January 2025 PairCorr
  0.82CISO Cerberus Cyber SentinelPairCorr
  0.65IMBBY Imperial Brands PLCPairCorr
  0.64DE Deere Company Fiscal Year End 27th of November 2024 PairCorr
  0.8RKLB Rocket Lab USA Aggressive PushPairCorr
  0.92PYPL PayPal HoldingsPairCorr
  0.94WAB Westinghouse Air BrakePairCorr
  0.76PPSI Pioneer Power SolutionsPairCorr
  0.61LDOS Leidos HoldingsPairCorr
  0.76LULU Lululemon AthleticaPairCorr
  0.79SOFI SoFi Technologies Aggressive PushPairCorr
  0.8DISO Tidal Trust IIPairCorr
  0.87XLF Financial Select Sector Aggressive PushPairCorr
  0.75ETH Grayscale Ethereum MiniPairCorr
  0.71IDU iShares Utilities ETFPairCorr
  0.79BTC Grayscale Bitcoin MiniPairCorr
  0.95DIVG Invesco Exchange TradedPairCorr
  0.9XLK Technology Select SectorPairCorr
  0.95OEF iShares SP 100PairCorr
  0.84USFR WisdomTree Floating RatePairCorr
  0.9MAGS Roundhill MagnificentPairCorr
  0.83WGMI Valkyrie Bitcoin MinersPairCorr
  0.78BTF Valkyrie Bitcoin StrategyPairCorr
  0.97SCHD Schwab Dividend EquityPairCorr
  0.95DSTL Distillate FundamentalPairCorr
  0.92LLPFX Longleaf PartnersPairCorr
  0.85RQECX Resq Dynamic AllocationPairCorr

Related Correlations Analysis

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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   
ZNUSD
+ 0.82
ZMUSD
GFUSX
+ 0.8
NQUSD
ZOUSX
+ 0.78
GCUSD
SBUSX
+ 0.75
GCUSD
ZOUSX
+ 0.73
HGUSD
ZOUSX
+ 0.72
SBUSX
  
High negative correlations   
NQUSD
- 0.77
ZNUSD
GFUSX
- 0.63
ZNUSD
NQUSD
- 0.48
ZMUSD
ZNUSD
- 0.43
GCUSD
ZNUSD
- 0.39
SBUSX
ZNUSD
- 0.29
KCUSX

Risk-Adjusted Indicators

There is a big difference between Mini Commodity performing well and Mini Dow Commodity 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 Mini Dow'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
HGUSD  1.17 (0.02) 0.00  0.20  0.00 
 0.00 
 1.72 
(2.41)
 8.26 
GCUSD  0.70  0.10 (0.03)(0.85) 0.95 
(0.72)
 1.40 
(1.31)
 4.36 
ZMUSD  0.98 (0.10) 0.00 (0.44) 0.00 
 0.00 
 2.57 
(2.04)
 7.61 
KCUSX  1.72  0.28  0.10  0.66  2.00 
(1.84)
 3.98 
(3.36)
 10.08 
SBUSX  1.52  0.26  0.12  1.06  1.32 
(1.86)
 3.53 
(2.23)
 9.50 
ZNUSD  0.23 (0.05) 0.00  0.61  0.00 
 0.00 
 0.42 
(0.45)
 1.42 
NQUSD  0.78 (0.04)(0.03) 0.08  1.15 
(0.74)
 1.58 
(2.47)
 5.18 
ZOUSX  1.72  0.21  0.04  5.38  2.41 
(1.67)
 2.88 
(4.36)
 10.82 
KEUSX  1.22  0.11 (0.02)(0.46) 1.37 
(1.36)
 2.67 
(2.42)
 6.16 
GFUSX  0.48  0.04 (0.09) 0.34  0.54 
(0.55)
 1.01 
(1.04)
 3.28 

View Mini Dow Related Equities

 Risk & Return  Correlation
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