Absolute Core Correlations
| ABEQ Etf | USD 33.70 0.10 0.30% |
The current 90-days correlation between Absolute Core Strategy and Anfield Equity Sector is 0.39 (i.e., Weak diversification). The correlation of Absolute Core 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.
Absolute Core Correlation With Market
Very weak diversification
The correlation between Absolute Core Strategy and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Absolute Core Strategy and DJI in the same portfolio, assuming nothing else is changed.
Absolute |
Moving together with Absolute Etf
| 0.64 | DVY | iShares Select Dividend | PairCorr |
| 0.81 | FVD | First Trust Value | PairCorr |
| 0.69 | NOBL | ProShares SP 500 | PairCorr |
| 0.87 | FXY | Invesco CurrencyShares | PairCorr |
| 0.86 | PMBS | PIMCO Mortgage Backed | PairCorr |
| 0.7 | AMPD | Tidal Trust II | PairCorr |
| 0.82 | VZ | Verizon Communications | PairCorr |
| 0.8 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.71 | XOM | Exxon Mobil Corp Aggressive Push | PairCorr |
| 0.9 | JNJ | Johnson Johnson | PairCorr |
| 0.61 | INTC | Intel | PairCorr |
| 0.82 | KO | Coca Cola | PairCorr |
| 0.86 | GE | GE Aerospace | PairCorr |
| 0.9 | T | ATT Inc Earnings Call Today | PairCorr |
Moving against Absolute Etf
| 0.76 | WGMI | Valkyrie Bitcoin Miners | PairCorr |
| 0.72 | MSFT | Microsoft | PairCorr |
| 0.66 | AA | Alcoa Corp | PairCorr |
| 0.57 | MRK | Merck Company | PairCorr |
| 0.55 | HPQ | HP Inc | PairCorr |
| 0.45 | CAT | Caterpillar | PairCorr |
Related Correlations Analysis
| 0.01 | 0.99 | 0.98 | -0.18 | AESR | ||
| 0.01 | 0.03 | -0.12 | 0.85 | AADR | ||
| 0.99 | 0.03 | 0.98 | -0.18 | AFLG | ||
| 0.98 | -0.12 | 0.98 | -0.31 | ACIO | ||
| -0.18 | 0.85 | -0.18 | -0.31 | AFIF | ||
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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
| High negative correlations
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Absolute Core Constituents Risk-Adjusted Indicators
There is a big difference between Absolute Etf performing well and Absolute Core 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 Absolute Core'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| AESR | 0.92 | (0.04) | 0.00 | (0.11) | 0.00 | 1.59 | 5.79 | |||
| AADR | 1.14 | 0.18 | 0.12 | 0.21 | 1.47 | 2.48 | 8.15 | |||
| AFLG | 0.74 | (0.03) | 0.00 | (0.11) | 0.00 | 1.32 | 3.54 | |||
| ACIO | 0.59 | (0.05) | 0.00 | (0.14) | 0.00 | 0.92 | 3.47 | |||
| AFIF | 0.14 | 0.01 | 0.39 | 0.30 | 0.00 | 0.33 | 1.10 |