Pacer Small Correlations

Etfs . USA . 
Etf . Pacer Small Cap
CALF Etf  USD 37.98  0.21  0.55%   
The current 90-days correlation between Pacer Small Cap and Pacer Cash Cows is 0.86 (i.e., Very poor diversification). The correlation of Pacer Small 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 Small Correlation With Market

Poor diversification

The correlation between Pacer Small Cap and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacer Small Cap 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 Small Cap. 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

  0.82VBR Vanguard Small CapPairCorr
  0.86IWN iShares Russell 2000PairCorr
  0.76IJJ iShares SP MidPairCorr
  0.9DFAT Dimensional TargetedPairCorr
  0.92IJS iShares SP SmallPairCorr
  0.92SLYV SPDR SP 600PairCorr
  0.93AVUV Avantis Small CapPairCorr
  0.85DES WisdomTree SmallCapPairCorr
  0.79MDYV SPDR SP 400PairCorr
  0.71VTI Vanguard Total StockPairCorr
  0.72SPY SPDR SP 500PairCorr
  0.72IVV iShares Core SP Sell-off TrendPairCorr
  0.84VUG Vanguard Growth IndexPairCorr
  0.69DIS Walt DisneyPairCorr
  0.75BAC Bank of America Sell-off TrendPairCorr
  0.77HD Home DepotPairCorr
  0.84CAT CaterpillarPairCorr
  0.77HPQ HP IncPairCorr

Moving against Pacer Etf

  0.83BND Vanguard Total Bond Sell-off TrendPairCorr
  0.77VEA Vanguard FTSE DevelopedPairCorr
  0.9JNJ Johnson JohnsonPairCorr
  0.85VZ Verizon CommunicationsPairCorr
  0.78TRV The Travelers CompaniesPairCorr
  0.74MCD McDonaldsPairCorr
  0.61IBM International BusinessPairCorr
  0.5CSCO Cisco SystemsPairCorr
  0.47INTC IntelPairCorr
  0.43CVX Chevron Corp Sell-off TrendPairCorr
  0.41XOM Exxon Mobil Corp Aggressive PushPairCorr

Related Correlations Analysis

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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   
ICOW
+ 0.98
GCOW
DSTL
+ 0.93
COWZ
XSVM
+ 0.76
COWZ
DSTL
+ 0.68
XSVM
  
High negative correlations   
XSVM
- 0.64
GCOW
XSVM
- 0.6
ICOW
GCOW
- 0.37
COWZ
ICOW
- 0.33
COWZ
DSTL
- 0.18
GCOW
DSTL
- 0.12
ICOW

Pacer Small Constituents Risk-Adjusted Indicators

There is a big difference between Pacer Etf performing well and Pacer Small 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 Small'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.

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