AdvisorShares Restaurant Correlations

EATZ Etf

USD 27.88 0.19 0.69%

The current 90-days correlation between AdvisorShares Restaurant and AdvisorShares Hotel ETF is 0.66 (i.e., Poor diversification). The correlation of AdvisorShares Restaurant 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.

AdvisorShares Restaurant Correlation With Market

Poor diversification

The correlation between AdvisorShares Restaurant ETF and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvisorShares Restaurant ETF 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 AdvisorShares Restaurant ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with AdvisorShares Etf

0.72	XLY	Consumer Discretionary	Pair Corr
0.72	VCR	Vanguard Consumer	Pair Corr
0.72	FDIS	Fidelity MSCI Consumer	Pair Corr
0.87	IYC	iShares Consumer Dis	Pair Corr
0.96	PEJ	Invesco Dynamic Leisure	Pair Corr
0.82	FXD	First Trust Consumer	Pair Corr
0.67	XRT	SPDR SP Retail Sell-off Trend	Pair Corr
0.74	LUX	Tema ETF Trust	Pair Corr
0.93	SWP	SWP Growth Income	Pair Corr
0.61	DUKH	Ocean Park High	Pair Corr
0.82	WINN	Harbor Long Term	Pair Corr
0.68	BA	Boeing	Pair Corr
0.79	BAC	Bank of America	Pair Corr
0.81	AXP	American Express	Pair Corr
0.74	DIS	Walt Disney	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.91	WMT	Walmart	Pair Corr
0.63	HPQ	HP Inc Sell-off Trend	Pair Corr

Moving against AdvisorShares Etf

0.83	FNGD	MicroSectors FANG Index	Pair Corr
0.41	SHLD	Global X Funds	Pair Corr
0.42	MRK	Merck Company	Pair Corr
0.33	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	BEDZ	CRUZ	PEJ	VICE	OOTO
BEDZ		0.97	0.86	0.28	0.98	BEDZ
CRUZ	0.97		0.91	0.38	0.98	CRUZ
PEJ	0.86	0.91		0.66	0.89	PEJ
VICE	0.28	0.38	0.66		0.34	VICE
OOTO	0.98	0.98	0.89	0.34		OOTO
	BEDZ	CRUZ	PEJ	VICE	OOTO

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AdvisorShares Restaurant Constituents Risk-Adjusted Indicators

There is a big difference between AdvisorShares Etf performing well and AdvisorShares Restaurant 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 AdvisorShares Restaurant'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
BEDZ	1.08	(0.15)	0.00	(0.14)	0.00	0.00	1.81	(2.31)	5.40
CRUZ	1.08	(0.11)	0.00	(0.10)	0.00	0.00	1.90	(2.84)	5.79
PEJ	1.04	(0.02)	0.00	(0.02)	0.00	0.00	1.93	(3.00)	6.09
VICE	0.85	0.01	0.01	0.01	1.12	(0.84)	1.49	(1.93)	4.44
OOTO	2.12	(0.26)	0.00	(0.12)	0.00	0.00	4.02	(4.78)	9.92

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