Fm High Correlations

ZTOP Etf

52.40 0.09 0.17%

The current 90-days correlation between Fm High Yield and Thornburg Core Plus is 0.46 (i.e., Very weak diversification). The correlation of Fm High 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.

Fm High Correlation With Market

Weak diversification

The correlation between Fm High Yield and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Fm High Yield and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ZTOP Etf

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

Moving together with ZTOP Etf

0.78	HYG	iShares iBoxx High	Pair Corr
0.72	USHY	iShares Broad USD	Pair Corr
0.72	JNK	SPDR Bloomberg High	Pair Corr
0.73	SHYG	iShares 0 5	Pair Corr
0.72	HYLB	Xtrackers USD High	Pair Corr
0.97	SJNK	SPDR Bloomberg Short	Pair Corr
0.95	ANGL	VanEck Fallen Angel	Pair Corr
0.66	FALN	iShares Fallen Angels	Pair Corr
0.94	HYLS	First Trust Tactical	Pair Corr
0.97	HYDW	Xtrackers Low Beta	Pair Corr
0.76	CPST	Calamos ETF Trust	Pair Corr
0.72	ITDD	iShares Trust	Pair Corr
0.75	PBDC	Putnam ETF Trust	Pair Corr
0.77	PDBC	Invesco Optimum Yield	Pair Corr
0.8	SPUT	Innovator ETFs Trust	Pair Corr
0.65	VXUS	Vanguard Total Inter	Pair Corr
0.73	JEPI	JPMorgan Equity Premium	Pair Corr
0.71	VOO	Vanguard SP 500	Pair Corr
0.71	HDUS	Lattice Strategies Trust	Pair Corr
0.78	BSMZ	Invesco BulletShares 2035	Pair Corr
0.69	STOT	SPDR DoubleLine Short	Pair Corr
0.72	VV	Vanguard Large Cap	Pair Corr
0.71	VGSH	Vanguard Short Term	Pair Corr
0.69	DDX	Defined Duration Symbol Change	Pair Corr
0.79	DYLG	Global X Funds	Pair Corr
0.7	EFA	iShares MSCI EAFE	Pair Corr
0.77	GAPR	First Trust Exchange	Pair Corr
0.93	SKOR	FlexShares Credit	Pair Corr
0.73	LBO	WHITEWOLF Publicly Listed	Pair Corr
0.7	DXUV	Dimensional ETF Trust	Pair Corr
0.91	KFEB	Innovator Small Cap	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.6	0.23	-0.34	0.23	-0.14	0.52	-0.13	-0.34	-0.42	META
MSFT	0.6		0.75	-0.54	0.51	0.17	0.28	-0.34	-0.84	-0.74	MSFT
UBER	0.23	0.75		-0.49	0.41	0.35	-0.07	-0.52	-0.84	-0.51	UBER
F	-0.34	-0.54	-0.49		-0.68	-0.03	0.13	0.65	0.69	0.67	F
T	0.23	0.51	0.41	-0.68		0.45	-0.28	-0.52	-0.51	-0.65	T
A	-0.14	0.17	0.35	-0.03	0.45		-0.41	-0.25	-0.17	-0.24	A
CRM	0.52	0.28	-0.07	0.13	-0.28	-0.41		0.52	-0.02	-0.21	CRM
JPM	-0.13	-0.34	-0.52	0.65	-0.52	-0.25	0.52		0.56	0.36	JPM
MRK	-0.34	-0.84	-0.84	0.69	-0.51	-0.17	-0.02	0.56		0.77	MRK
XOM	-0.42	-0.74	-0.51	0.67	-0.65	-0.24	-0.21	0.36	0.77		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.77	MRK
UBER	+ 0.75	MSFT
MRK	+ 0.69	F
XOM	+ 0.67	F
JPM	+ 0.65	F
MSFT	+ 0.6	META

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.84	MSFT
XOM	- 0.74	MSFT
T	- 0.68	F
XOM	- 0.65	T
F	- 0.54	MSFT

Fm High Competition Risk-Adjusted Indicators

There is a big difference between ZTOP Etf performing well and Fm High 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 Fm High'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
META	1.35	(0.31)	0.00	(0.21)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.99	(0.25)	0.00	(0.57)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.47	(0.12)	0.00	0.29	0.00	0.00	2.60	(3.82)	10.23
F	1.50	0.13	0.12	0.18	1.32	(1.81)	3.69	(2.35)	16.30
T	0.88	(0.18)	0.00	(0.45)	0.00	0.00	1.53	(1.85)	4.30
A	1.19	(0.13)	(0.07)	(0.01)	1.46	(1.27)	2.90	(2.24)	7.85
CRM	1.55	(0.25)	0.00	(0.12)	0.00	0.00	3.59	(3.10)	12.37
JPM	1.12	(0.10)	(0.04)	0.02	1.67	(1.13)	2.00	(3.11)	7.38
MRK	1.22	0.37	0.26	0.56	1.02	(1.52)	3.59	(1.98)	8.09
XOM	1.08	0.29	0.17	2.95	0.97	(1.25)	2.38	(1.51)	5.82

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