VanEck Oil Correlations

CRAK Etf

USD 29.31 0.44 1.48%

The current 90-days correlation between VanEck Oil Refiners and iShares MSCI Global is 0.84 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VanEck Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Oil Refiners moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VanEck Oil Correlation With Market

Very weak diversification

The correlation between VanEck Oil Refiners and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Oil Refiners 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 Oil Refiners. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with VanEck Etf

0.92	XLE	Energy Select Sector	Pair Corr
0.84	VDE	Vanguard Energy Index	Pair Corr
0.88	IYE	iShares Energy ETF	Pair Corr
0.94	IXC	iShares Global Energy	Pair Corr
0.84	FENY	Fidelity MSCI Energy	Pair Corr
0.72	FTXN	First Trust Nasdaq	Pair Corr
0.75	IEO	iShares Oil Gas	Pair Corr
0.71	GDXU	MicroSectors Gold Miners	Pair Corr
0.83	XOM	Exxon Mobil Corp	Pair Corr
0.73	MMM	3M Company	Pair Corr
0.68	GE	GE Aerospace	Pair Corr

Moving against VanEck Etf

0.44

DIS

Walt Disney

Pair Corr

Related Correlations Analysis

	FILL	FTXN	PSCE	ENFR	RYE
FILL		0.87	0.2	0.89	0.0	FILL
FTXN	0.87		0.62	0.86	0.0	FTXN
PSCE	0.2	0.62		0.27	0.0	PSCE
ENFR	0.89	0.86	0.27		0.0	ENFR
RYE	0.0	0.0	0.0	0.0		RYE
	FILL	FTXN	PSCE	ENFR	RYE

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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

ENFR	+ 0.89	FILL
FTXN	+ 0.87	FILL
ENFR	+ 0.86	FTXN
PSCE	+ 0.62	FTXN
ENFR	+ 0.27	PSCE
PSCE	+ 0.2	FILL

High negative correlations

RYE	- 0.0	ENFR
RYE	- 0.0	PSCE
RYE	- 0.0	FTXN
RYE	- 0.0	FILL

VanEck Oil Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Oil 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 Oil'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
FILL	0.83	0.09	0.10	0.13	1.16	(0.79)	1.58	(2.05)	5.46
FTXN	1.13	0.06	0.05	0.03	1.66	(1.04)	2.21	(2.69)	6.68
PSCE	1.26	(0.20)	0.00	(0.35)	0.00	0.00	2.52	(3.12)	9.70
ENFR	0.99	0.12	0.11	0.14	1.28	(1.00)	1.85	(2.23)	5.98
RYE	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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