VanEck Africa Correlations

AFK Etf

USD 17.35 0.21 1.20%

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VanEck Africa moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Africa Index moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VanEck Africa Correlation With Market

Very weak diversification

The correlation between VanEck Africa Index and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Africa Index and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in VanEck Africa Index. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with VanEck Etf

0.87	EWU	iShares MSCI United	Pair Corr
0.84	EWY	iShares MSCI South	Pair Corr
0.85	EWL	iShares MSCI Switzerland	Pair Corr
0.84	EWG	iShares MSCI Germany	Pair Corr
0.85	EWQ	iShares MSCI France	Pair Corr
0.91	EWW	iShares MSCI Mexico	Pair Corr
0.69	BND	Vanguard Total Bond	Pair Corr
0.61	VTV	Vanguard Value Index	Pair Corr
0.9	VEA	Vanguard FTSE Developed	Pair Corr
0.96	GDXU	MicroSectors Gold Miners	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.83	IBM	International Business	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.8	MMM	3M Company	Pair Corr
0.66	INTC	Intel	Pair Corr
0.7	KO	Coca Cola	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr

Moving against VanEck Etf

0.72	MRK	Merck Company	Pair Corr
0.43	DIS	Walt Disney	Pair Corr
0.43	CAT	Caterpillar	Pair Corr
0.41	AA	Alcoa Corp	Pair Corr
0.33	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	EGPT	EZA	NGE	IDX	THD
EGPT		0.0	0.0	0.0	0.0	EGPT
EZA	0.0		0.0	-0.71	-0.63	EZA
NGE	0.0	0.0		0.0	0.0	NGE
IDX	0.0	-0.71	0.0		0.93	IDX
THD	0.0	-0.63	0.0	0.93		THD
	EGPT	EZA	NGE	IDX	THD

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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

THD	+ 0.93	IDX
EZA	+ 0.0	EGPT
NGE	+ 0.0	EGPT
IDX	+ 0.0	EGPT
THD	+ 0.0	EGPT
NGE	+ 0.0	EZA

High negative correlations

IDX	- 0.71	EZA
THD	- 0.63	EZA
THD	- 0.0	NGE
IDX	- 0.0	NGE
NGE	- 0.0	EZA
THD	- 0.0	EGPT

VanEck Africa Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Africa 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 Africa'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
EGPT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EZA	1.10	0.07	0.07	0.05	1.33	(1.18)	2.26	(1.93)	5.30
NGE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IDX	1.33	(0.32)	0.00	(0.79)	0.00	0.00	2.39	(3.26)	10.10
THD	1.08	(0.20)	0.00	(0.43)	0.00	0.00	2.09	(2.59)	5.71

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