Xtrackers California Correlations

CA Etf

USD 24.56 0.16 0.65%

The current 90-days correlation between Xtrackers California and VCRM is 0.26 (i.e., Modest diversification). The correlation of Xtrackers California 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.

Xtrackers California Correlation With Market

Modest diversification

The correlation between Xtrackers California Municipal and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xtrackers California Municipal 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 Xtrackers California Municipal. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Xtrackers Etf

0.74

MMCA

IndexIQ Active ETF

Pair Corr

Moving against Xtrackers Etf

0.44	XOP	SPDR SP Oil	Pair Corr
0.37	IYE	iShares Energy ETF	Pair Corr

Related Correlations Analysis

	CA	VCRM	MMIN	MMIT	MNBD	MUST	VSDM	MYMF	MYMG
CA		0.74	0.87	0.7	0.75	0.84	0.41	0.5	0.68	CA
VCRM	0.74		0.88	0.93	0.93	0.84	0.85	0.86	0.91	VCRM
MMIN	0.87	0.88		0.92	0.92	0.91	0.66	0.74	0.88	MMIN
MMIT	0.7	0.93	0.92		0.98	0.83	0.87	0.92	0.97	MMIT
MNBD	0.75	0.93	0.92	0.98		0.84	0.85	0.92	0.97	MNBD
MUST	0.84	0.84	0.91	0.83	0.84		0.58	0.65	0.79	MUST
VSDM	0.41	0.85	0.66	0.87	0.85	0.58		0.96	0.89	VSDM
MYMF	0.5	0.86	0.74	0.92	0.92	0.65	0.96		0.96	MYMF
MYMG	0.68	0.91	0.88	0.97	0.97	0.79	0.89	0.96		MYMG
	CA	VCRM	MMIN	MMIT	MNBD	MUST	VSDM	MYMF	MYMG

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Xtrackers California Constituents Risk-Adjusted Indicators

There is a big difference between Xtrackers Etf performing well and Xtrackers California 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 Xtrackers California'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
CA	0.21	(0.03)	0.00	(0.42)	0.00	0.00	0.44	(0.48)	1.21
VCRM	0.19	(0.01)	0.00	0.35	0.00	0.00	0.39	(0.41)	1.13
MMIN	0.25	(0.03)	0.00	(0.58)	0.00	0.00	0.46	(0.63)	1.22
MMIT	0.17	(0.01)	0.00	(0.25)	0.00	0.00	0.33	(0.37)	0.75
MNBD	0.15	(0.01)	0.00	(0.42)	0.00	0.00	0.28	(0.31)	0.74
MUST	0.27	(0.02)	0.00	(0.31)	0.00	0.00	0.54	(0.55)	1.54
VSDM	0.09	0.00	0.05	(0.18)	0.00	(0.11)	0.17	(0.16)	0.58
MYMF	0.06	0.00	0.02	(0.06)	0.00	(0.07)	0.12	(0.12)	0.32
MYMG	0.09	(0.01)	(0.03)	(0.31)	0.09	(0.10)	0.16	(0.20)	0.53

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