VanEck CMCI Correlations

CMCI Etf

USD 25.37 0.14 0.55%

The current 90-days correlation between VanEck CMCI Commodity and Strategy Shares is 0.11 (i.e., Average diversification). The correlation of VanEck CMCI 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.

VanEck CMCI Correlation With Market

Good diversification

The correlation between VanEck CMCI Commodity and DJI is -0.2 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck CMCI Commodity 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 CMCI Commodity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with VanEck Etf

0.95	PDBC	Invesco Optimum Yield	Pair Corr
0.96	FTGC	First Trust Global	Pair Corr
0.95	DBC	Invesco DB Commodity	Pair Corr
0.93	COMT	iShares GSCI Commodity	Pair Corr
0.93	GSG	iShares SP GSCI	Pair Corr
0.95	DJP	iPath Bloomberg Commodity Potential Growth	Pair Corr
0.95	BCI	abrdn Bloomberg All	Pair Corr
0.95	CMDY	iShares Bloomberg Roll	Pair Corr
0.95	COMB	GraniteShares Bloomberg	Pair Corr
0.92	GCC	WisdomTree Continuous	Pair Corr
0.75	BST	BlackRock Science Tech	Pair Corr
0.82	CSCO	Cisco Systems	Pair Corr
0.81	MMM	3M Company	Pair Corr
0.63	IBM	International Business	Pair Corr
0.79	JPM	JPMorgan Chase	Pair Corr

Moving against VanEck Etf

0.58	IRET	iREIT MarketVector	Pair Corr
0.63	DIS	Walt Disney	Pair Corr
0.51	TRV	The Travelers Companies	Pair Corr
0.5	HPQ	HP Inc Earnings Call Today	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.34	0.54	-0.68	0.78	0.45	-0.1	0.85	-0.78	-0.4	META
MSFT	-0.34		-0.63	0.28	-0.48	0.2	0.71	-0.47	0.59	-0.15	MSFT
UBER	0.54	-0.63		-0.15	0.73	-0.02	-0.49	0.72	-0.74	0.37	UBER
F	-0.68	0.28	-0.15		-0.38	-0.16	0.33	-0.41	0.58	0.77	F
T	0.78	-0.48	0.73	-0.38		0.06	-0.2	0.73	-0.78	0.0	T
A	0.45	0.2	-0.02	-0.16	0.06		0.21	0.53	-0.02	-0.29	A
CRM	-0.1	0.71	-0.49	0.33	-0.2	0.21		-0.25	0.43	-0.06	CRM
JPM	0.85	-0.47	0.72	-0.41	0.73	0.53	-0.25		-0.78	-0.08	JPM
MRK	-0.78	0.59	-0.74	0.58	-0.78	-0.02	0.43	-0.78		0.1	MRK
XOM	-0.4	-0.15	0.37	0.77	0.0	-0.29	-0.06	-0.08	0.1		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.85	META
T	+ 0.78	META
XOM	+ 0.77	F
T	+ 0.73	UBER
JPM	+ 0.73	T
JPM	+ 0.72	UBER

High negative correlations

MRK	- 0.78	JPM
MRK	- 0.78	T
MRK	- 0.78	META
MRK	- 0.74	UBER
F	- 0.68	META
UBER	- 0.63	MSFT

VanEck CMCI Competition Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck CMCI 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 CMCI'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	1.30	0.26	0.16	0.64	1.38	(1.36)	3.22	(2.26)	7.11
MSFT	0.99	(0.06)	0.00	(0.23)	0.00	0.00	2.20	(1.90)	10.31
UBER	1.88	0.15	0.05	(2.68)	2.72	(1.87)	4.72	(3.13)	12.29
F	1.35	(0.21)	0.00	(0.27)	0.00	0.00	2.46	(2.90)	10.97
T	0.92	0.24	0.21	0.47	0.95	(1.07)	1.80	(1.75)	7.94
A	1.09	0.08	0.07	0.13	1.03	(1.33)	2.81	(1.91)	6.12
CRM	1.43	(0.07)	0.00	(0.08)	0.00	0.00	3.10	(2.95)	15.92
JPM	0.90	0.08	0.06	0.11	1.21	(0.99)	1.92	(1.51)	6.85
MRK	1.22	(0.07)	0.00	(1.13)	0.00	0.00	2.43	(1.81)	11.57
XOM	0.94	(0.13)	0.00	(0.24)	0.00	0.00	1.76	(2.14)	5.69

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