Bridges Capital Correlations

BDGS Etf

31.66 0.07 0.22%

The current 90-days correlation between Bridges Capital Tactical and Strategy Shares is 0.48 (i.e., Very weak diversification). The correlation of Bridges Capital 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.

Bridges Capital Correlation With Market

Poor diversification

The correlation between Bridges Capital Tactical and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bridges Capital Tactical 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 Bridges Capital Tactical. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Bridges Etf

0.65	TDSC	Cabana Target Drawdown	Pair Corr
0.83	FVC	First Trust Dorsey	Pair Corr
0.84	GMOM	Cambria Global Momentum	Pair Corr
0.83	AGOX	Adaptive Alpha Oppor	Pair Corr
0.95	TACK	Fairlead Tactical Sector	Pair Corr
0.9	DALI	First Trust Dorsey	Pair Corr
0.64	DUKH	Ocean Park High	Pair Corr
0.61	NFLX	Netflix	Pair Corr
0.75	BA	Boeing	Pair Corr
0.76	DIS	Walt Disney	Pair Corr

Moving against Bridges Etf

0.9	FNGD	MicroSectors FANG Index	Pair Corr
0.44	TRV	The Travelers Companies	Pair Corr
0.36	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.13	-0.09	-0.04	0.1	-0.01	-0.11	-0.06	-0.09	DHSB
MBOX	-0.13		0.36	0.16	-0.29	0.4	0.92	0.37	0.84	MBOX
DIEM	-0.09	0.36		0.86	0.13	-0.38	0.52	0.77	0.64	DIEM
MCHI	-0.04	0.16	0.86		0.47	-0.54	0.46	0.92	0.6	MCHI
DIPS	0.1	-0.29	0.13	0.47		-0.54	-0.04	0.52	0.09	DIPS
DISO	-0.01	0.4	-0.38	-0.54	-0.54		0.26	-0.51	0.06	DISO
DIVB	-0.11	0.92	0.52	0.46	-0.04	0.26		0.63	0.95	DIVB
DIVD	-0.06	0.37	0.77	0.92	0.52	-0.51	0.63		0.75	DIVD
DIVG	-0.09	0.84	0.64	0.6	0.09	0.06	0.95	0.75		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
MCHI	+ 0.86	DIEM
DIVG	+ 0.84	MBOX
DIVD	+ 0.77	DIEM

High negative correlations

DISO	- 0.54	DIPS
DISO	- 0.54	MCHI
DIVD	- 0.51	DISO
DISO	- 0.38	DIEM
DIPS	- 0.29	MBOX
MBOX	- 0.13	DHSB

Bridges Capital Constituents Risk-Adjusted Indicators

There is a big difference between Bridges Etf performing well and Bridges Capital 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 Bridges Capital'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	0.38	(0.05)	0.00	(0.25)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.70	0.00	0.00	(0.03)	0.00	0.00	1.27	(1.40)	3.06
DIEM	0.69	0.04	0.07	0.06	0.86	(0.75)	1.43	(1.89)	4.39
MCHI	1.36	0.28	0.20	0.87	1.39	(1.60)	2.63	(2.72)	7.91
DIPS	2.25	0.06	0.05	(0.09)	2.72	(2.43)	5.35	(4.43)	23.78
DISO	0.90	(0.11)	0.00	(0.21)	0.00	0.00	1.47	(2.12)	6.61
DIVB	0.66	0.04	0.05	0.02	0.87	(0.66)	1.16	(1.40)	3.13
DIVD	0.59	0.14	0.22	0.26	0.62	(0.67)	1.39	(0.95)	3.39
DIVG	0.60	0.03	0.06	0.03	0.75	(0.62)	1.23	(1.18)	3.05

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