| BDCX Etf | | | USD 32.16 0.09 0.28% |
The current 90-days correlation between ETRACS Quarterly Pay and ProShares Ultra SP500 is 0.51 (i.e., Very weak diversification). The correlation of ETRACS Quarterly 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.
ETRACS Quarterly Correlation With Market
Very weak diversification
The correlation between ETRACS Quarterly Pay and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETRACS Quarterly Pay and DJI in the same portfolio, assuming nothing else is changed.
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