VanEck China Correlations

CBON Etf

USD 22.11 0.04 0.18%

The current 90-days correlation between VanEck China Bond and SPDR Bloomberg Emerging is 0.68 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VanEck China moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck China Bond moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VanEck China Correlation With Market

Very good diversification

The correlation between VanEck China Bond and DJI is -0.24 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck China Bond 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 VanEck China Bond. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with VanEck Etf

0.87	LEMB	iShares JP Morgan	Pair Corr
0.84	FEMB	First Trust Emerging	Pair Corr
0.87	CEW	WisdomTree Emerging	Pair Corr

Moving against VanEck Etf

0.84	FBGX	UBS	Pair Corr
0.69	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.62	TARK	AXS 2X Innovation	Pair Corr
0.56	TFLR	T Rowe Price	Pair Corr
0.55	SFYX	SoFi Next 500	Pair Corr
0.52	CSHI	SHP ETF Trust	Pair Corr
0.49	VTI	Vanguard Total Stock	Pair Corr
0.47	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.45	SPXL	Direxion Daily SP500	Pair Corr
0.45	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.44	UPRO	ProShares UltraPro SP500	Pair Corr
0.38	QLD	ProShares Ultra QQQ	Pair Corr
0.32	AVGE	Avantis All Equity	Pair Corr
0.31	ROM	ProShares Ultra Tech	Pair Corr
0.69	IBIT	iShares Bitcoin Trust Aggressive Push	Pair Corr
0.69	BTC	Grayscale Bitcoin Mini	Pair Corr
0.66	IGV	iShares Expanded Tech	Pair Corr
0.61	DRVN	Driven Brands Holdings	Pair Corr
0.6	VXF	Vanguard Extended Market	Pair Corr
0.6	DDIV	First Trust RBA	Pair Corr
0.59	LONZ	PIMCO ETF Trust	Pair Corr
0.59	XSLV	Invesco SP SmallCap	Pair Corr
0.56	BRW	Saba Capital Income	Pair Corr
0.55	DVY	iShares Select Dividend	Pair Corr
0.53	MVPS	Amplify Thematic All	Pair Corr
0.52	UMDD	ProShares UltraPro	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	0.02	0.58	0.03	0.65	0.28	-0.54	0.71	META
MSFT	0.28		0.23	0.14	0.19	-0.02	0.03	-0.13	0.11	-0.19	MSFT
UBER	0.56	0.23		-0.04	-0.02	0.27	0.01	-0.13	0.06	0.35	UBER
F	0.02	0.14	-0.04		0.14	-0.4	0.44	0.67	-0.31	0.32	F
T	0.58	0.19	-0.02	0.14		-0.51	0.77	0.56	-0.78	0.37	T
A	0.03	-0.02	0.27	-0.4	-0.51		-0.48	-0.64	0.64	-0.01	A
CRM	0.65	0.03	0.01	0.44	0.77	-0.48		0.85	-0.92	0.66	CRM
JPM	0.28	-0.13	-0.13	0.67	0.56	-0.64	0.85		-0.83	0.49	JPM
MRK	-0.54	0.11	0.06	-0.31	-0.78	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.35	0.32	0.37	-0.01	0.66	0.49	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.85	CRM
CRM	+ 0.77	T
XOM	+ 0.71	META
JPM	+ 0.67	F
XOM	+ 0.66	CRM
CRM	+ 0.65	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.54	META

VanEck China Competition Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck China 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 VanEck China'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	1.06	0.06	0.02	0.21	1.39	(1.15)	2.62	(3.15)	8.02
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
UBER	1.62	(0.13)	(0.05)	0.00	2.26	(1.79)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.29	0.26	0.22	0.36	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.02	(0.06)	(0.09)	0.00	1.34	(1.07)	2.10	(2.09)	5.74

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC