United States Correlations

CPER Etf

USD 27.04 0.04 0.15%

The current 90-days correlation between United States Copper and FT Vest Equity is 0.02 (i.e., Significant diversification). The correlation of United States 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.

United States Correlation With Market

Average diversification

The correlation between United States Copper and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United States Copper 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 United States Copper. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with United Etf

0.83	GLD	SPDR Gold Shares	Pair Corr
0.83	IAU	iShares Gold Trust	Pair Corr
0.72	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.82	GLDM	SPDR Gold MiniShares	Pair Corr
0.82	SGOL	abrdn Physical Gold	Pair Corr
0.82	GLTR	abrdn Physical Precious	Pair Corr
0.72	SIVR	abrdn Physical Silver	Pair Corr
0.82	IAUM	iShares Gold Trust	Pair Corr
0.63	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Moving against United Etf

0.49	RFDA	RiverFront Dynamic	Pair Corr
0.48	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.44	DBA	Invesco DB Agriculture	Pair Corr
0.38	DSJA	DSJA	Pair Corr
0.76	DIS	Walt Disney	Pair Corr
0.52	WMT	Walmart	Pair Corr
0.48	BAC	Bank of America	Pair Corr
0.43	AXP	American Express Earnings Call Tomorrow	Pair Corr
0.41	PG	Procter Gamble	Pair Corr
0.4	CSCO	Cisco Systems Aggressive Push	Pair Corr

Related Correlations Analysis

	CPER	DHDG	Z	MBCC	MBBB	BZDYF	MBOX	MBNE	MBND
CPER		-0.33	-0.64	-0.32	0.01	-0.33	-0.08	-0.21	-0.36	CPER
DHDG	-0.33		0.68	0.76	0.59	0.24	0.58	0.55	0.58	DHDG
Z	-0.64	0.68		0.63	0.3	0.39	0.52	0.44	0.49	Z
MBCC	-0.32	0.76	0.63		0.8	-0.2	0.82	0.8	0.71	MBCC
MBBB	0.01	0.59	0.3	0.8		-0.44	0.69	0.88	0.73	MBBB
BZDYF	-0.33	0.24	0.39	-0.2	-0.44		-0.36	-0.33	-0.07	BZDYF
MBOX	-0.08	0.58	0.52	0.82	0.69	-0.36		0.66	0.47	MBOX
MBNE	-0.21	0.55	0.44	0.8	0.88	-0.33	0.66		0.92	MBNE
MBND	-0.36	0.58	0.49	0.71	0.73	-0.07	0.47	0.92		MBND
	CPER	DHDG	Z	MBCC	MBBB	BZDYF	MBOX	MBNE	MBND

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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

MBND	+ 0.92	MBNE
MBNE	+ 0.88	MBBB
MBOX	+ 0.82	MBCC
MBBB	+ 0.8	MBCC
MBNE	+ 0.8	MBCC
MBCC	+ 0.76	DHDG

High negative correlations

Z	- 0.64	CPER
BZDYF	- 0.44	MBBB
MBOX	- 0.36	BZDYF
MBND	- 0.36	CPER
MBNE	- 0.33	BZDYF
BZDYF	- 0.33	CPER

United States Constituents Risk-Adjusted Indicators

There is a big difference between United Etf performing well and United States 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 United States' 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
CPER	0.88	(0.03)	0.00	(0.13)	0.00	0.00	1.72	(1.83)	6.97
DHDG	0.37	0.03	0.02	0.15	0.49	(0.37)	0.91	(0.86)	3.06
Z	1.95	0.35	0.16	0.31	1.95	(2.33)	3.61	(3.61)	30.33
MBCC	0.61	0.00	(0.01)	0.03	0.89	(0.58)	1.12	(1.27)	4.33
MBBB	0.28	(0.04)	0.00	(0.37)	0.00	0.00	0.57	(0.66)	1.74
BZDYF	0.28	0.12	0.00	5.69	0.00	0.00	0.82	0.00	6.11
MBOX	0.63	(0.01)	(0.03)	0.01	0.82	(0.69)	1.27	(1.06)	5.51
MBNE	0.17	(0.03)	0.00	(0.62)	0.00	0.00	0.27	(0.54)	1.26
MBND	0.19	(0.02)	0.00	(0.58)	0.00	0.00	0.44	(0.47)	1.46

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