Ocean Park Correlations

DUKH Etf

USD 24.90 0.02 0.08%

The current 90-days correlation between Ocean Park High and BondBloxx ETF Trust is 0.77 (i.e., Poor diversification). The correlation of Ocean Park 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.

Ocean Park Correlation With Market

Very weak diversification

The correlation between Ocean Park High and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ocean Park High 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 Ocean Park High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Ocean Etf

0.63	JNK	SPDR Bloomberg High	Pair Corr
0.72	HYLS	First Trust Tactical	Pair Corr
0.61	DD	Dupont De Nemours	Pair Corr

Moving against Ocean Etf

0.37

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	XB	VEMY	MUSE	VSHY	EMHY	NHYM	NJNK	EVHY
XB		0.71	0.82	0.81	0.9	-0.03	0.77	0.69	XB
VEMY	0.71		0.83	0.91	0.81	0.06	0.93	0.97	VEMY
MUSE	0.82	0.83		0.75	0.9	0.04	0.76	0.78	MUSE
VSHY	0.81	0.91	0.75		0.78	0.04	0.97	0.94	VSHY
EMHY	0.9	0.81	0.9	0.78		0.05	0.76	0.76	EMHY
NHYM	-0.03	0.06	0.04	0.04	0.05		0.0	0.03	NHYM
NJNK	0.77	0.93	0.76	0.97	0.76	0.0		0.98	NJNK
EVHY	0.69	0.97	0.78	0.94	0.76	0.03	0.98		EVHY
	XB	VEMY	MUSE	VSHY	EMHY	NHYM	NJNK	EVHY

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

EVHY	+ 0.98	NJNK
EVHY	+ 0.97	VEMY
NJNK	+ 0.97	VSHY
EVHY	+ 0.94	VSHY
NJNK	+ 0.93	VEMY
VSHY	+ 0.91	VEMY

High negative correlations

NHYM	- 0.03	XB
NJNK	- 0.0	NHYM

Ocean Park Constituents Risk-Adjusted Indicators

There is a big difference between Ocean Etf performing well and Ocean Park 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 Ocean Park'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
XB	0.22	0.01	0.22	0.01	0.27	(0.23)	0.46	(0.46)	1.09
VEMY	0.24	0.03	0.32	(0.85)	0.18	(0.25)	0.53	(0.41)	1.65
MUSE	0.15	0.00	0.21	0.27	0.27	(0.19)	0.30	(0.30)	2.11
VSHY	0.16	0.01	0.35	1.13	0.12	(0.20)	0.46	(0.28)	1.11
EMHY	0.24	0.02	0.20	0.05	0.33	(0.25)	0.55	(0.39)	1.53
NHYM	0.19	0.01	0.22	0.31	0.26	(0.22)	0.40	(0.39)	1.90
NJNK	0.19	0.02	0.35	(2.02)	0.15	(0.21)	0.40	(0.40)	1.27
EVHY	0.17	0.02	0.42	(3.06)	0.06	(0.19)	0.34	(0.30)	1.10

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC