Saba Closed Correlations

CEFS Etf

USD 21.82 0.09 0.41%

The current 90-days correlation between Saba Closed End and First Trust Income is 0.69 (i.e., Poor diversification). The correlation of Saba Closed 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 Closed Correlation With Market

Good diversification

The correlation between Saba Closed End Funds and DJI is -0.03 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saba Closed End Funds 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 Closed End Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Saba Etf

0.9	TDSC	Cabana Target Drawdown	Pair Corr
0.9	YYY	Amplify High Income	Pair Corr
0.63	TDSB	Cabana Target Drawdown	Pair Corr
0.84	GMOM	Cambria Global Momentum	Pair Corr
0.74	TACK	Fairlead Tactical Sector	Pair Corr
0.7	NFLX	Netflix	Pair Corr

Moving against Saba Etf

0.49	FNGD	MicroSectors FANG Index Downward Rally	Pair Corr
0.58	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	FCEF	PCEF	HIPS	YYY	ALTY
FCEF		0.93	0.92	0.98	0.91	FCEF
PCEF	0.93		0.83	0.94	0.76	PCEF
HIPS	0.92	0.83		0.92	0.94	HIPS
YYY	0.98	0.94	0.92		0.9	YYY
ALTY	0.91	0.76	0.94	0.9		ALTY
	FCEF	PCEF	HIPS	YYY	ALTY

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Saba Closed Constituents Risk-Adjusted Indicators

There is a big difference between Saba Etf performing well and Saba Closed 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 Closed'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
FCEF	0.40	0.03	0.13	1.06	0.41	(0.47)	0.83	(0.77)	2.42
PCEF	0.41	0.01	0.07	2.48	0.54	(0.41)	0.84	(0.90)	2.86
HIPS	0.46	0.03	0.09	6.14	0.59	(0.47)	0.86	(1.01)	2.39
YYY	0.40	0.02	0.10	1.51	0.45	(0.47)	0.79	(0.76)	2.17
ALTY	0.42	0.04	0.15	(0.74)	0.43	(0.46)	0.87	(0.85)	2.23

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