Saba Capital Correlations

BRW Etf

USD 7.78 0.04 0.52%

The current 90-days correlation between Saba Capital Income and Federated Premier Municipal is 0.22 (i.e., Modest diversification). The correlation of Saba 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.

Saba Capital Correlation With Market

Average diversification

The correlation between Saba Capital Income and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saba Capital Income 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 Saba Capital Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Saba Etf

0.69	AIVI	WisdomTree International	Pair Corr
0.74	SOCL	Global X Social	Pair Corr
0.7	GENT	Spinnaker ETF Series	Pair Corr
0.63	LUX	Tema ETF Trust	Pair Corr
0.64	WTRE	WisdomTree New Economy	Pair Corr
0.81	BNGE	First Trust S	Pair Corr
0.74	FTSD	Franklin Liberty Short	Pair Corr
0.85	JGH	Nuveen Global High	Pair Corr
0.68	GDXJ	VanEck Junior Gold	Pair Corr
0.69	EEMX	SPDR MSCI Emerging	Pair Corr
0.75	EUSC	WisdomTree Europe Hedged	Pair Corr
0.79	BKT	BlackRock Income Closed	Pair Corr
0.68	FLGV	Franklin Liberty Treasury	Pair Corr
0.68	LIAE	Stone Ridge 2050	Pair Corr
0.78	ACWV	iShares MSCI Global	Pair Corr
0.77	HSRT	Hartford Short Duration	Pair Corr
0.77	MLPB	UBS AG London	Pair Corr
0.73	LQDB	iShares BBB Rated	Pair Corr
0.63	EMLP	First Trust North	Pair Corr
0.79	JMST	JPMorgan Ultra Short	Pair Corr
0.76	SPHD	Invesco SP 500	Pair Corr
0.75	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.61	DINT	Davis Select Interna	Pair Corr
0.67	KBUF	KraneShares Trust	Pair Corr
0.8	CLOA	BlackRock AAA CLO	Pair Corr
0.76	DWLD	Davis Select Worldwide	Pair Corr
0.81	GHMS	Goose Hollow Multi	Pair Corr
0.76	VXUS	Vanguard Total Inter	Pair Corr
0.64	BBEM	JP Morgan Exchange	Pair Corr
0.76	SPIB	SPDR Barclays Interm	Pair Corr
0.61	IHF	iShares Healthcare	Pair Corr
0.74	MYCJ	SPDR SSGA My2030	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Saba Capital Competition Risk-Adjusted Indicators

There is a big difference between Saba Etf performing well and Saba 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 Saba 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
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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