Inspire Global Correlations

BLES Etf

USD 38.09 0.27 0.70%

The current 90-days correlation between Inspire Global Hope and Inspire SmallMid Cap is 0.87 (i.e., Very poor diversification). The correlation of Inspire Global 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.

Inspire Global Correlation With Market

Good diversification

The correlation between Inspire Global Hope and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inspire Global Hope 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 Inspire Global Hope. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Inspire Etf

0.7	VT	Vanguard Total World	Pair Corr
0.83	ACWI	iShares MSCI ACWI	Pair Corr
0.65	ACWV	iShares MSCI Global	Pair Corr
0.64	URTH	iShares MSCI World	Pair Corr
0.8	CRBN	iShares MSCI ACWI	Pair Corr
0.81	GLOV	Goldman Sachs ActiveBeta	Pair Corr
0.63	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.67	SPGM	SPDR Portfolio MSCI	Pair Corr
0.66	GDXU	MicroSectors Gold Miners	Pair Corr
0.64	JNUG	Direxion Daily Junior	Pair Corr
0.63	SHNY	Microsectors Gold	Pair Corr
0.63	IBM	International Business	Pair Corr
0.62	GE	GE Aerospace	Pair Corr

Moving against Inspire Etf

0.44	WTID	UBS ETRACS	Pair Corr
0.58	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	ISMD	BIBL	WWJD	IBD	CATH
ISMD		0.72	-0.58	-0.58	0.9	ISMD
BIBL	0.72		0.0	-0.05	0.88	BIBL
WWJD	-0.58	0.0		0.86	-0.35	WWJD
IBD	-0.58	-0.05	0.86		-0.36	IBD
CATH	0.9	0.88	-0.35	-0.36		CATH
	ISMD	BIBL	WWJD	IBD	CATH

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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

CATH	+ 0.9	ISMD
CATH	+ 0.88	BIBL
IBD	+ 0.86	WWJD
BIBL	+ 0.72	ISMD
WWJD	+ 0.0	BIBL

High negative correlations

IBD	- 0.58	ISMD
WWJD	- 0.58	ISMD
CATH	- 0.36	IBD
CATH	- 0.35	WWJD
IBD	- 0.05	BIBL
WWJD	- 0.0	BIBL

Inspire Global Constituents Risk-Adjusted Indicators

There is a big difference between Inspire Etf performing well and Inspire Global 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 Inspire Global'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
ISMD	0.90	(0.21)	0.00	1.55	0.00	0.00	1.39	(2.16)	4.10
BIBL	0.91	(0.09)	0.00	0.44	0.00	0.00	1.60	(2.09)	4.41
WWJD	0.66	0.11	0.16	0.13	0.76	(0.72)	1.39	(1.44)	4.13
IBD	0.25	0.01	0.21	4.87	0.33	(0.26)	0.43	(0.67)	1.52
CATH	0.83	(0.13)	0.00	0.58	0.00	0.00	1.35	(1.79)	4.83

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