AdvisorShares Hotel Correlations

Etfs . USA . 
Etf . AdvisorShares Hotel ETF
BEDZ Etf  USD 34.00  1.18  3.60%   
The current 90-days correlation between AdvisorShares Hotel ETF and AdvisorShares Restaurant ETF is 0.76 (i.e., Poor diversification). The correlation of AdvisorShares Hotel 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.

AdvisorShares Hotel Correlation With Market

Poor diversification

The correlation between AdvisorShares Hotel ETF and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvisorShares Hotel 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 AdvisorShares Hotel 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 unemployment.

Moving together with AdvisorShares Etf

  0.94XLY Consumer DiscretionaryPairCorr
  0.94VCR Vanguard ConsumerPairCorr
  0.94FDIS Fidelity MSCI ConsumerPairCorr
  0.96IYC iShares Consumer DisPairCorr
  0.99PEJ Invesco Dynamic LeisurePairCorr
  0.92FXD First Trust ConsumerPairCorr
  0.91RCD Invesco SP 500PairCorr
  0.89XRT SPDR SP RetailPairCorr
  0.61NVDU Direxion Daily NVDAPairCorr
  0.87FNGU MicroSectors FANG IndexPairCorr
  0.92BITX Volatility Shares TrustPairCorr
  0.97DAPP VanEck Digital TransPairCorr
  0.66HD Home DepotPairCorr
  0.89T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.85CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.9WMT WalmartPairCorr
  0.94JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.93AXP American Express Fiscal Year End 24th of January 2025 PairCorr

Moving against AdvisorShares Etf

  0.61ITB iShares Home ConstructionPairCorr
  0.43XHB SPDR SP HomebuildersPairCorr
  0.91KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.91PFE Pfizer Inc Aggressive PushPairCorr
  0.88JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.83MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.4MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr
  0.4VZ Verizon Communications Fiscal Year End 28th of January 2025 PairCorr
  0.32MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr

Related Correlations Analysis

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AdvisorShares Hotel Constituents Risk-Adjusted Indicators

There is a big difference between AdvisorShares Etf performing well and AdvisorShares Hotel 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 AdvisorShares Hotel'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.

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