Xtrackers Harvest Correlations

ASHR Etf

USD 26.83 0.11 0.41%

The current 90-days correlation between Xtrackers Harvest CSI and iShares MSCI China is 0.76 (i.e., Poor diversification). The correlation of Xtrackers Harvest 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.

Xtrackers Harvest Correlation With Market

Good diversification

The correlation between Xtrackers Harvest CSI and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xtrackers Harvest CSI 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 Xtrackers Harvest CSI. 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 Xtrackers Etf

0.84	KWEB	KraneShares CSI China	Pair Corr
0.84	FXI	iShares China Large	Pair Corr
0.86	GXC	SPDR SP China	Pair Corr
0.86	CQQQ	Invesco China Technology	Pair Corr
0.87	CXSE	WisdomTree China	Pair Corr
0.8	EWH	iShares MSCI Hong	Pair Corr
0.98	KBA	KraneShares Bosera MSCI	Pair Corr
1.0	CNYA	iShares MSCI China	Pair Corr
0.7	PMBS	PIMCO Mortgage Backed	Pair Corr
0.7	YCL	ProShares Ultra Yen	Pair Corr
0.7	FXY	Invesco CurrencyShares	Pair Corr
0.71	ULE	ProShares Ultra Euro	Pair Corr
0.62	GDXU	MicroSectors Gold Miners	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.64	PG	Procter Gamble	Pair Corr
0.64	T	ATT Inc Sell-off Trend	Pair Corr
0.68	KO	Coca Cola	Pair Corr

Moving against Xtrackers Etf

0.55	BAC	Bank of America Aggressive Push	Pair Corr
0.48	AXP	American Express	Pair Corr
0.43	HD	Home Depot	Pair Corr
0.41	DIS	Walt Disney	Pair Corr
0.37	HPQ	HP Inc	Pair Corr
0.35	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.02	0.58	-0.53	0.3	0.41	0.28	0.9	-0.74	-0.03	META
MSFT	-0.02		-0.62	0.02	-0.8	0.54	0.89	0.13	0.43	-0.55	MSFT
UBER	0.58	-0.62		-0.28	0.81	-0.16	-0.53	0.51	-0.84	0.57	UBER
F	-0.53	0.02	-0.28		0.0	-0.05	-0.16	-0.37	0.51	0.36	F
T	0.3	-0.8	0.81	0.0		-0.51	-0.71	0.16	-0.65	0.6	T
A	0.41	0.54	-0.16	-0.05	-0.51		0.64	0.64	0.07	-0.23	A
CRM	0.28	0.89	-0.53	-0.16	-0.71	0.64		0.36	0.23	-0.61	CRM
JPM	0.9	0.13	0.51	-0.37	0.16	0.64	0.36		-0.63	0.06	JPM
MRK	-0.74	0.43	-0.84	0.51	-0.65	0.07	0.23	-0.63		-0.32	MRK
XOM	-0.03	-0.55	0.57	0.36	0.6	-0.23	-0.61	0.06	-0.32		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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.81	UBER
CRM	+ 0.64	A
JPM	+ 0.64	A
XOM	+ 0.6	T

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.74	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Xtrackers Harvest Competition Risk-Adjusted Indicators

There is a big difference between Xtrackers Etf performing well and Xtrackers Harvest 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 Xtrackers Harvest'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	1.63	0.04	0.02	0.00	2.27	(1.46)	2.96	(3.73)	8.90
MSFT	1.11	(0.18)	0.00	(0.29)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.40	0.18	0.75	2.03	(2.05)	4.72	(3.13)	12.75
F	1.44	0.14	0.06	0.09	2.12	(1.42)	2.71	(2.88)	10.14
T	0.99	0.29	0.19	0.56	1.43	(1.11)	1.90	(1.55)	11.66
A	1.15	(0.18)	0.00	4.17	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.29)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.10	0.05	0.05	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.16	(0.11)	0.00	1.03	0.00	0.00	2.07	(1.80)	11.58
XOM	1.03	0.13	0.10	0.27	1.28	(1.06)	2.55	(2.36)	5.89

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