Flaherty Correlations

DFP Etf

USD 20.47 0.02 0.1%

The current 90-days correlation between Flaherty and Crumrine and Tekla World Healthcare is 0.36 (i.e., Weak diversification). The correlation of Flaherty 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.

Flaherty Correlation With Market

Good diversification

The correlation between Flaherty and Crumrine and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Flaherty and Crumrine and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Flaherty and Crumrine. 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 Flaherty Etf

0.75	SHLD	Global X Funds	Pair Corr
0.83	LUX	Tema ETF Trust	Pair Corr
0.72	SWP	SWP Growth Income	Pair Corr
0.67	WINN	Harbor Long Term	Pair Corr
0.73	DCRE	Doubleline ETF Trust	Pair Corr
0.62	XHLF	Bondbloxx ETF Trust	Pair Corr
0.83	CEW	WisdomTree Emerging	Pair Corr
0.9	VEA	Vanguard FTSE Developed	Pair Corr
0.92	NTSI	WisdomTree International	Pair Corr
0.77	SDCP	Virtus ETF Trust	Pair Corr
0.83	BCIL	Exchange Listed Funds	Pair Corr
0.76	KLXY	KraneShares Trust	Pair Corr
0.74	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.81	SCHP	Schwab TIPS ETF	Pair Corr
0.76	CPNJ	Calamos ETF Trust	Pair Corr
0.89	STAX	Macquarie ETF Trust	Pair Corr
0.62	PSUCF	PSUCF	Pair Corr
0.9	FLEE	Franklin FTSE Europe	Pair Corr
0.68	BCD	abrdn Bloomberg All	Pair Corr
0.85	IDV	iShares International Low Volatility	Pair Corr
0.89	STPZ	PIMCO 1 5	Pair Corr
0.64	CMCI	VanEck CMCI Commodity	Pair Corr
0.78	TIP	iShares TIPS Bond	Pair Corr
0.75	IEMG	iShares Core MSCI	Pair Corr
0.92	IDHQ	Invesco SP International	Pair Corr
0.87	IBIF	iShares Trust	Pair Corr
0.62	SGOV	iShares 0 3	Pair Corr
0.69	VWO	Vanguard FTSE Emerging	Pair Corr
0.62	TFLO	iShares Treasury Floating	Pair Corr
0.78	IHI	iShares Medical Devices	Pair Corr
0.78	EMXF	iShares ESG Advanced	Pair Corr
0.9	VGK	Vanguard FTSE Europe	Pair Corr
0.86	DFIV	Dimensional International	Pair Corr
0.79	FBY	YieldMax META Option	Pair Corr

Moving against Flaherty Etf

0.52

FNGD

MicroSectors FANG Index

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

Flaherty Competition Risk-Adjusted Indicators

There is a big difference between Flaherty Etf performing well and Flaherty 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 Flaherty'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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