VanEck Gaming Correlations

BJK Etf

USD 44.90 0.41 0.92%

The current 90-days correlation between VanEck Gaming ETF and Invesco Dynamic Leisure is 0.4 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VanEck Gaming moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Gaming ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VanEck Gaming Correlation With Market

Very weak diversification

The correlation between VanEck Gaming ETF and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Gaming 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 VanEck Gaming 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 inflation.

Moving together with VanEck Etf

0.63	XLY	Consumer Discretionary	Pair Corr
0.63	VCR	Vanguard Consumer	Pair Corr
0.62	FDIS	Fidelity MSCI Consumer	Pair Corr
0.63	XHB	SPDR SP Homebuilders	Pair Corr
0.62	IYC	iShares Consumer Dis	Pair Corr
0.67	FXD	First Trust Consumer	Pair Corr
0.8	RCD	Invesco SP 500	Pair Corr
0.85	ITDD	iShares Trust	Pair Corr
0.68	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.78	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.62	HPQ	HP Inc	Pair Corr
0.88	HD	Home Depot	Pair Corr
0.65	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.64	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.75	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.69	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.91	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Moving against VanEck Etf

0.49

MRK

Merck Company Fiscal Year End 6th of February 2025

Pair Corr

Related Correlations Analysis

	PEJ	BETZ	ESPO	NERD	CARZ
PEJ		0.86	0.91	0.94	0.66	PEJ
BETZ	0.86		0.94	0.93	0.55	BETZ
ESPO	0.91	0.94		0.97	0.68	ESPO
NERD	0.94	0.93	0.97		0.57	NERD
CARZ	0.66	0.55	0.68	0.57		CARZ
	PEJ	BETZ	ESPO	NERD	CARZ

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VanEck Gaming Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Gaming 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 VanEck Gaming'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
PEJ	0.70	0.11	0.14	0.23	0.53	(0.83)	1.54	(1.14)	5.98
BETZ	0.80	0.10	0.08	0.26	0.69	(0.89)	1.94	(1.34)	3.65
ESPO	1.00	0.22	0.14	0.49	0.83	(1.03)	1.96	(1.65)	7.62
NERD	0.89	0.25	0.20	0.80	0.56	(1.13)	1.93	(1.18)	7.36
CARZ	1.01	(0.05)	(0.04)	0.07	1.48	(1.00)	2.13	(1.90)	6.12

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