AltShares Trust Correlations

ARB Etf

USD 28.15 0.03 0.11%

The current 90-days correlation between AltShares Trust and Albany International is 0.12 (i.e., Average diversification). The correlation of AltShares Trust 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.

AltShares Trust Correlation With Market

Average diversification

The correlation between AltShares Trust and DJI is 0.11 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AltShares Trust 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 AltShares Trust . 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 AltShares Etf

0.81	MNA	IQ Merger Arbitrage	Pair Corr
0.71	SPCX	SPAC and New	Pair Corr
0.9	EVNT	AltShares Event Driven	Pair Corr
0.75	HART	IQ Healthy Hearts	Pair Corr
0.71	KO	Coca Cola	Pair Corr

Moving against AltShares Etf

0.5	EOS	Eaton Vance Enhanced	Pair Corr
0.49	VBK	Vanguard Small Cap	Pair Corr
0.47	MSFT	Microsoft	Pair Corr
0.37	XOP	SPDR SP Oil	Pair Corr
0.55	AA	Alcoa Corp	Pair Corr
0.44	MRK	Merck Company	Pair Corr
0.43	CAT	Caterpillar	Pair Corr
0.38	AXP	American Express Sell-off Trend	Pair Corr
0.35	HPQ	HP Inc	Pair Corr
0.32	DIS	Walt Disney	Pair Corr
0.31	BAC	Bank of America Sell-off Trend	Pair Corr

Related Correlations Analysis

	AIN	AKR	ATR	AIT	HHS
AIN		0.61	0.47	0.84	0.49	AIN
AKR	0.61		0.43	0.54	0.3	AKR
ATR	0.47	0.43		0.27	0.02	ATR
AIT	0.84	0.54	0.27		0.54	AIT
HHS	0.49	0.3	0.02	0.54		HHS
	AIN	AKR	ATR	AIT	HHS

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AltShares Trust Constituents Risk-Adjusted Indicators

There is a big difference between AltShares Etf performing well and AltShares Trust 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 AltShares Trust'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
AIN	1.44	(0.13)	(0.19)	2.44	(3.57)	8.86
AKR	1.31	(0.20)	(0.30)	2.14	(2.97)	7.30
ATR	0.94	(0.18)	(0.30)	1.46	(1.87)	10.88
AIT	1.37	(0.13)	(0.17)	2.59	(3.87)	10.46
HHS	1.85	(0.16)	(2.23)	3.46	(3.13)	17.74

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