Angel Oak Correlations

AOHY Etf

11.03 0.03 0.27%

The current 90-days correlation between Angel Oak High and VanEck Vectors Moodys is -0.17 (i.e., Good diversification). The correlation of Angel Oak 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.

Angel Oak Correlation With Market

Significant diversification

The correlation between Angel Oak High and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Angel Oak High 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 Angel Oak High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with Angel Etf

0.61	HYG	iShares iBoxx High	Pair Corr
0.63	USHY	iShares Broad USD	Pair Corr
0.62	SHYG	iShares 0 5	Pair Corr
0.62	HYLB	Xtrackers USD High	Pair Corr
0.61	SJNK	SPDR Bloomberg Short Sell-off Trend	Pair Corr
0.63	ANGL	VanEck Fallen Angel	Pair Corr
0.78	FALN	iShares Fallen Angels	Pair Corr
0.7	HYLS	First Trust Tactical	Pair Corr
0.63	VTI	Vanguard Total Stock	Pair Corr
0.73	SPY	SPDR SP 500	Pair Corr
0.73	IVV	iShares Core SP	Pair Corr
0.72	VUG	Vanguard Growth Index	Pair Corr
0.71	WMT	Walmart	Pair Corr
0.69	MSFT	Microsoft	Pair Corr

Moving against Angel Etf

0.56	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.46	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.42	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.33	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.77	-0.52	-0.53	0.37	0.44	0.52	0.2	-0.02	-0.59	META
MSFT	0.77		-0.61	-0.29	0.61	0.07	0.7	0.44	-0.28	-0.62	MSFT
UBER	-0.52	-0.61		0.57	-0.69	0.16	-0.8	-0.57	0.68	0.81	UBER
F	-0.53	-0.29	0.57		-0.06	-0.15	-0.17	0.13	0.08	0.77	F
T	0.37	0.61	-0.69	-0.06		-0.2	0.85	0.81	-0.64	-0.47	T
A	0.44	0.07	0.16	-0.15	-0.2		-0.14	-0.35	0.63	0.14	A
CRM	0.52	0.7	-0.8	-0.17	0.85	-0.14		0.84	-0.7	-0.58	CRM
JPM	0.2	0.44	-0.57	0.13	0.81	-0.35	0.84		-0.76	-0.38	JPM
MRK	-0.02	-0.28	0.68	0.08	-0.64	0.63	-0.7	-0.76		0.46	MRK
XOM	-0.59	-0.62	0.81	0.77	-0.47	0.14	-0.58	-0.38	0.46		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

CRM	+ 0.85	T
JPM	+ 0.84	CRM
XOM	+ 0.81	UBER
JPM	+ 0.81	T
MSFT	+ 0.77	META
XOM	+ 0.77	F

High negative correlations

CRM	- 0.8	UBER
MRK	- 0.76	JPM
MRK	- 0.7	CRM
T	- 0.69	UBER
MRK	- 0.64	T
XOM	- 0.62	MSFT

Angel Oak Competition Risk-Adjusted Indicators

There is a big difference between Angel Etf performing well and Angel Oak 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 Angel Oak'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	1.33	0.09	0.06	0.44	1.47	(1.51)	3.22	(3.15)	7.43
MSFT	0.89	0.02	0.01	(0.18)	1.62	(0.81)	1.78	(1.73)	8.14
UBER	1.73	(0.12)	0.00	(0.72)	0.00	0.00	2.67	(5.35)	20.41
F	1.38	(0.07)	0.00	(0.26)	0.00	0.00	2.38	(2.81)	11.21
T	0.98	0.03	0.02	0.09	1.20	(1.02)	1.93	(1.99)	7.95
A	1.13	(0.07)	0.00	(0.21)	0.00	0.00	2.43	(2.42)	8.06
CRM	1.46	0.24	0.15	2.37	1.38	(1.69)	3.16	(2.88)	14.80
JPM	1.06	0.28	0.22	148.19	1.02	(1.28)	1.99	(1.42)	15.87
MRK	0.94	(0.12)	0.00	(0.53)	0.00	0.00	1.72	(2.13)	5.17
XOM	0.76	(0.17)	0.00	(0.92)	0.00	0.00	1.71	(2.14)	6.06

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