Ocean Park Correlations

DUKX Etf

23.25 0.15 0.64%

The current 90-days correlation between Ocean Park International and iShares Trust is 0.64 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

Ocean Park Correlation With Market

Modest diversification

The correlation between Ocean Park International and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ocean Park International 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 International. 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

0.7	AA	Alcoa Corp	Pair Corr
0.66	DIS	Walt Disney	Pair Corr

Moving against Ocean Etf

0.52	DBEF	Xtrackers MSCI EAFE	Pair Corr
0.71	MMM	3M Company	Pair Corr
0.64	PFE	Pfizer Inc	Pair Corr
0.59	JPM	JPMorgan Chase	Pair Corr
0.58	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	IRTR	SSXU	BAMA	BAMO	DHDG	Z	MBCC	MBBB
IRTR		0.94	0.83	0.75	0.83	0.65	0.95	0.91	IRTR
SSXU	0.94		0.77	0.73	0.82	0.51	0.91	0.79	SSXU
BAMA	0.83	0.77		0.97	0.96	0.7	0.89	0.59	BAMA
BAMO	0.75	0.73	0.97		0.96	0.62	0.83	0.46	BAMO
DHDG	0.83	0.82	0.96	0.96		0.64	0.88	0.58	DHDG
Z	0.65	0.51	0.7	0.62	0.64		0.75	0.54	Z
MBCC	0.95	0.91	0.89	0.83	0.88	0.75		0.8	MBCC
MBBB	0.91	0.79	0.59	0.46	0.58	0.54	0.8		MBBB
	IRTR	SSXU	BAMA	BAMO	DHDG	Z	MBCC	MBBB

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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
IRTR	0.29	0.03	0.09	0.08	0.40	(0.29)	0.63	(0.50)	2.24
SSXU	0.52	0.04	0.06	0.06	0.76	(0.49)	1.17	(1.10)	3.32
BAMA	0.44	0.01	0.03	0.00	0.65	(0.41)	0.74	(1.11)	2.80
BAMO	0.45	0.01	0.03	0.00	0.64	(0.44)	0.75	(0.95)	2.96
DHDG	0.37	0.01	0.05	0.01	0.53	(0.38)	0.71	(0.81)	2.56
Z	1.56	(0.06)	0.00	(0.07)	0.00	0.00	2.91	(3.63)	14.24
MBCC	0.60	0.03	0.04	0.02	0.85	(0.59)	1.15	(1.26)	3.80
MBBB	0.26	0.03	0.15	0.21	0.24	(0.28)	0.56	(0.47)	1.74

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