SHP ETF Correlations

BNDI Etf

USD 47.71 0.02 0.04%

The current 90-days correlation between SHP ETF Trust and Valued Advisers Trust is -0.12 (i.e., Good diversification). The correlation of SHP ETF 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.

SHP ETF Correlation With Market

Average diversification

The correlation between SHP ETF Trust and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SHP ETF Trust 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 SHP ETF Trust. 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 SHP Etf

0.96	BND	Vanguard Total Bond	Pair Corr
0.96	AGG	iShares Core Aggregate	Pair Corr
0.96	BIV	Vanguard Intermediate	Pair Corr
0.96	SPAB	SPDR Portfolio Aggregate	Pair Corr
0.96	EAGG	iShares ESG Aggregate	Pair Corr
0.99	FLCB	Franklin Templeton ETF	Pair Corr
0.96	UITB	VictoryShares USAA Core	Pair Corr
0.96	DFCF	Dimensional ETF Trust	Pair Corr
0.99	JAGG	JPMorgan BetaBuilders	Pair Corr
0.96	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.66	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.88	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.67	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Moving against SHP Etf

0.83	DSJA	DSJA	Pair Corr
0.78	RSPY	Tuttle Capital Management	Pair Corr
0.74	MEME	Roundhill Investments	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.52	WMT	Walmart Aggressive Push	Pair Corr
0.37	ITWO	Proshares Russell 2000 Upward Rally	Pair Corr
0.76	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.7	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.69	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.53	T	ATT Inc Aggressive Push	Pair Corr
0.52	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.47	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	MBSF	DIAL	IG	DMBS	VABS	VBND	MINT	VCRB	DUKZ
MBSF		-0.57	-0.52	-0.62	0.57	-0.59	0.77	-0.62	0.11	MBSF
DIAL	-0.57		0.98	0.97	-0.05	0.98	-0.76	0.98	0.53	DIAL
IG	-0.52	0.98		0.94	0.03	0.99	-0.7	0.98	0.61	IG
DMBS	-0.62	0.97	0.94		-0.1	0.96	-0.81	0.96	0.44	DMBS
VABS	0.57	-0.05	0.03	-0.1		-0.06	0.64	-0.09	0.72	VABS
VBND	-0.59	0.98	0.99	0.96	-0.06		-0.77	0.99	0.52	VBND
MINT	0.77	-0.76	-0.7	-0.81	0.64	-0.77		-0.79	0.1	MINT
VCRB	-0.62	0.98	0.98	0.96	-0.09	0.99	-0.79		0.49	VCRB
DUKZ	0.11	0.53	0.61	0.44	0.72	0.52	0.1	0.49		DUKZ
	MBSF	DIAL	IG	DMBS	VABS	VBND	MINT	VCRB	DUKZ

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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

VBND	+ 0.99	IG
VCRB	+ 0.99	VBND
IG	+ 0.98	DIAL
VBND	+ 0.98	DIAL
VCRB	+ 0.98	DIAL
VCRB	+ 0.98	IG

High negative correlations

MINT	- 0.81	DMBS
VCRB	- 0.79	MINT
MINT	- 0.77	VBND
MINT	- 0.76	DIAL
MINT	- 0.7	IG
VCRB	- 0.62	MBSF

SHP ETF Constituents Risk-Adjusted Indicators

There is a big difference between SHP Etf performing well and SHP ETF 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 SHP ETF'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
MBSF	0.15	0.01	(0.41)	(0.08)	0.15	(0.17)	0.31	(0.35)	1.33
DIAL	0.24	(0.02)	0.00	(0.49)	0.00	0.00	0.50	(0.50)	1.54
IG	0.26	(0.01)	(0.31)	(0.70)	0.33	(0.29)	0.53	(0.61)	1.88
DMBS	0.25	(0.04)	0.00	(0.31)	0.00	0.00	0.41	(0.45)	1.24
VABS	0.08	0.01	(0.79)	0.89	0.00	(0.11)	0.21	(0.12)	0.54
VBND	0.24	(0.01)	(0.34)	0.22	0.33	(0.25)	0.44	(0.63)	1.59
MINT	0.02	0.01	(1.79)	9.79	0.00	(0.03)	0.06	(0.02)	0.24
VCRB	0.24	0.00	(0.37)	0.15	0.30	(0.26)	0.45	(0.52)	1.30
DUKZ	0.18	0.01	(0.33)	0.17	0.14	(0.20)	0.31	(0.39)	0.98

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