Brookstone Yield Correlations

BAMY Etf

26.30 0.01 0.04%

The current 90-days correlation between Brookstone Yield ETF and Strategy Shares is 0.53 (i.e., Very weak diversification). The correlation of Brookstone Yield 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.

Brookstone Yield Correlation With Market

Poor diversification

The correlation between Brookstone Yield ETF and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Brookstone Yield ETF 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 Brookstone Yield ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Brookstone Etf

0.84	AOR	iShares Core Growth	Pair Corr
0.66	GDMA	Alpha Architect Gdsdn	Pair Corr
0.89	OCIO	ClearShares OCIO ETF	Pair Corr
0.77	MFUL	Collaborative Investment	Pair Corr
0.84	MPRO	Northern Lights	Pair Corr
0.71	RULE	Collaborative Investment	Pair Corr
0.73	ARKW	ARK Next Generation	Pair Corr
0.81	EWC	iShares MSCI Canada	Pair Corr
0.77	BST	BlackRock Science Tech	Pair Corr
0.62	CSCO	Cisco Systems	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.72	HD	Home Depot	Pair Corr
0.86	WMT	Walmart Aggressive Push	Pair Corr
0.7	AXP	American Express Sell-off Trend	Pair Corr

Moving against Brookstone Etf

0.53

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.13	-0.07	-0.02	0.11	-0.02	-0.1	-0.03	-0.08	DHSB
MBOX	-0.13		0.37	0.16	-0.29	0.42	0.92	0.37	0.85	MBOX
DIEM	-0.07	0.37		0.85	0.11	-0.35	0.52	0.76	0.63	DIEM
MCHI	-0.02	0.16	0.85		0.46	-0.53	0.46	0.92	0.59	MCHI
DIPS	0.11	-0.29	0.11	0.46		-0.53	-0.04	0.51	0.08	DIPS
DISO	-0.02	0.42	-0.35	-0.53	-0.53		0.27	-0.49	0.08	DISO
DIVB	-0.1	0.92	0.52	0.46	-0.04	0.27		0.63	0.95	DIVB
DIVD	-0.03	0.37	0.76	0.92	0.51	-0.49	0.63		0.74	DIVD
DIVG	-0.08	0.85	0.63	0.59	0.08	0.08	0.95	0.74		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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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

DIVG	+ 0.95	DIVB
DIVB	+ 0.92	MBOX
DIVD	+ 0.92	MCHI
DIVG	+ 0.85	MBOX
MCHI	+ 0.85	DIEM
DIVD	+ 0.76	DIEM

High negative correlations

DISO	- 0.53	DIPS
DISO	- 0.53	MCHI
DIVD	- 0.49	DISO
DISO	- 0.35	DIEM
DIPS	- 0.29	MBOX
MBOX	- 0.13	DHSB

Brookstone Yield Constituents Risk-Adjusted Indicators

There is a big difference between Brookstone Etf performing well and Brookstone Yield 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 Brookstone Yield'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
DHSB	0.37	(0.08)	0.00	(0.48)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.69	0.00	0.00	(0.07)	0.00	0.00	1.08	(1.40)	3.06
DIEM	0.69	0.05	0.09	0.04	0.86	(0.76)	1.43	(1.89)	4.39
MCHI	1.38	0.27	0.20	0.70	1.42	(1.60)	2.63	(2.72)	7.91
DIPS	2.24	0.08	0.08	(0.14)	2.73	(2.40)	5.35	(4.43)	23.78
DISO	0.91	(0.11)	0.00	(0.23)	0.00	0.00	1.47	(2.12)	6.61
DIVB	0.65	0.03	0.00	(0.03)	0.00	0.00	1.15	(1.40)	3.13
DIVD	0.60	0.14	0.23	0.21	0.65	(0.68)	1.39	(0.99)	3.39
DIVG	0.60	0.03	0.08	(0.02)	0.76	(0.62)	1.23	(1.18)	3.05

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