Two Roads Correlations

DYLD Etf

USD 22.62 0.20 0.88%

The current 90-days correlation between Two Roads Shared and Two Roads Shared is 0.41 (i.e., Very weak diversification). The correlation of Two Roads 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.

Two Roads Correlation With Market

Modest diversification

The correlation between Two Roads Shared 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 Two Roads Shared 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 Two Roads Shared. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Two Etf

0.91	AXSAX	Axonic Strategic Income	Pair Corr
0.91	AXSIX	Axonic Strategic Income	Pair Corr
0.86	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.95	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.95	DEED	First Trust TCW	Pair Corr
0.95	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.94	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.92	JPIE	JP Morgan Exchange	Pair Corr
0.83	AFIF	Anfield Universal Fixed	Pair Corr
0.89	MUSI	American Century Mul	Pair Corr
0.91	FXY	Invesco CurrencyShares	Pair Corr
0.73	T	ATT Inc Earnings Call This Week	Pair Corr
0.67	TRV	The Travelers Companies	Pair Corr
0.71	KO	Coca Cola	Pair Corr
0.71	PG	Procter Gamble	Pair Corr
0.69	MCD	McDonalds	Pair Corr

Moving against Two Etf

0.78	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.66	GRI	GRI Bio Earnings Call This Week	Pair Corr
0.46	MSFT	Microsoft	Pair Corr
0.38	MRK	Merck Company	Pair Corr
0.35	AMPD	Tidal Trust II	Pair Corr
0.49	AA	Alcoa Corp	Pair Corr
0.48	CAT	Caterpillar	Pair Corr
0.43	HPQ	HP Inc	Pair Corr
0.32	HD	Home Depot	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		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	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Two Roads Competition Risk-Adjusted Indicators

There is a big difference between Two Etf performing well and Two Roads 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 Two Roads' 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	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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