Pacer BlueStar Correlations

BULD Etf

USD 21.56 0.28 1.32%

The correlation of Pacer BlueStar 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.

Pacer BlueStar Correlation With Market

Good diversification

The correlation between Pacer BlueStar Engineering and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacer BlueStar Engineering 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 Pacer BlueStar Engineering. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Pacer Etf

0.63	XLK	Technology Select Sector	Pair Corr
0.84	CIBR	First Trust NASDAQ	Pair Corr
0.71	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.87	FDN	First Trust Dow	Pair Corr
0.7	IGM	iShares Expanded Tech	Pair Corr
0.75	VTI	Vanguard Total Stock	Pair Corr
0.69	VBK	Vanguard Small Cap	Pair Corr
0.74	NFLX	Netflix	Pair Corr
0.7	AXP	American Express	Pair Corr
0.85	JPM	JPMorgan Chase	Pair Corr
0.66	BAC	Bank of America Aggressive Push	Pair Corr
0.86	WMT	Walmart	Pair Corr
0.68	BA	Boeing	Pair Corr
0.61	HPQ	HP Inc	Pair Corr

Moving against Pacer Etf

0.72	FNGD	MicroSectors FANG Index	Pair Corr
0.65	MRK	Merck Company	Pair Corr
0.36	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	ECOW	TRFK	SHPP	BYOB	BSMV
ECOW		-0.24	0.45	0.0	0.4	ECOW
TRFK	-0.24		0.5	0.0	-0.13	TRFK
SHPP	0.45	0.5		0.0	0.27	SHPP
BYOB	0.0	0.0	0.0		0.0	BYOB
BSMV	0.4	-0.13	0.27	0.0		BSMV
	ECOW	TRFK	SHPP	BYOB	BSMV

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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

SHPP	+ 0.5	TRFK
SHPP	+ 0.45	ECOW
BSMV	+ 0.4	ECOW
BSMV	+ 0.27	SHPP
BYOB	+ 0.0	ECOW
BYOB	+ 0.0	TRFK

High negative correlations

TRFK	- 0.24	ECOW
BSMV	- 0.13	TRFK
BSMV	- 0.0	BYOB
BYOB	- 0.0	SHPP
BYOB	- 0.0	TRFK
BYOB	- 0.0	ECOW

Pacer BlueStar Constituents Risk-Adjusted Indicators

There is a big difference between Pacer Etf performing well and Pacer BlueStar 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 Pacer BlueStar'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
ECOW	0.69	0.06	0.09	0.12	0.79	(0.79)	1.46	(1.29)	4.36
TRFK	1.67	(0.10)	0.00	(0.11)	0.00	0.00	2.38	(3.96)	10.99
SHPP	0.82	(0.01)	0.00	(0.05)	0.00	0.00	1.55	(2.26)	4.33
BYOB	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BSMV	0.20	(0.02)	0.00	(0.72)	0.00	0.00	0.24	(0.34)	1.01

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