Harbor ETF Correlations

EFFI Etf

USD 20.75 0.41 2.02%

The current 90-days correlation between Harbor ETF Trust and Invesco Actively Managed is 0.92 (i.e., Almost no diversification). The correlation of Harbor ETF 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.

Harbor ETF Correlation With Market

Weak diversification

The correlation between Harbor ETF Trust and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Harbor ETF Trust 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 Harbor ETF Trust. 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 Harbor Etf

0.89	PSLV	Sprott Physical Silver Earnings Call This Week	Pair Corr
0.82	HART	IQ Healthy Hearts	Pair Corr
0.92	VPL	Vanguard FTSE Pacific	Pair Corr
0.81	QLTI	2023 ETF	Pair Corr
0.63	EVMT	Invesco Electric Vehicle	Pair Corr
0.74	NBFC	Neuberger Berman ETF	Pair Corr
0.77	GDXJ	VanEck Junior Gold	Pair Corr
0.87	TOAK	Manager Directed Por	Pair Corr
0.87	VTIP	Vanguard Short Term Sell-off Trend	Pair Corr
0.85	IEI	iShares 3 7 Sell-off Trend	Pair Corr
0.85	GCOR	Goldman Sachs Access	Pair Corr
0.8	MYMF	SPDR SSGA My2026	Pair Corr
0.79	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.86	SCHR	Schwab Intermediate	Pair Corr
0.78	NBCE	Neuberger Berman ETF	Pair Corr
0.89	FEDM	FlexShares ESG Climate	Pair Corr
0.86	PABD	iShares Paris Aligned	Pair Corr
0.81	IJUN	Innovator ETFs Trust	Pair Corr
0.67	BGLD	FT Cboe Vest	Pair Corr
0.89	BABX	GraniteShares 175x Long Buyout Trend	Pair Corr
0.99	BINV	2023 ETF Series	Pair Corr
0.84	IBTO	iShares iBonds Dec	Pair Corr
0.99	DWM	WisdomTree International	Pair Corr
0.8	MYCH	SPDR SSGA My2028	Pair Corr
0.79	RING	iShares MSCI Global	Pair Corr

Moving against Harbor Etf

0.44

TINY

ProShares Nanotechnology

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.2	0.68	-0.48	0.47	0.32	0.11	0.89	-0.78	0.18	META
MSFT	-0.2		-0.65	0.38	-0.76	0.64	0.88	-0.04	0.52	-0.25	MSFT
UBER	0.68	-0.65		-0.49	0.8	-0.23	-0.56	0.6	-0.86	0.45	UBER
F	-0.48	0.38	-0.49		-0.24	0.18	0.23	-0.38	0.64	0.24	F
T	0.47	-0.76	0.8	-0.24		-0.53	-0.67	0.28	-0.69	0.44	T
A	0.32	0.64	-0.23	0.18	-0.53		0.74	0.56	0.14	-0.04	A
CRM	0.11	0.88	-0.56	0.23	-0.67	0.74		0.2	0.33	-0.3	CRM
JPM	0.89	-0.04	0.6	-0.38	0.28	0.56	0.2		-0.66	0.19	JPM
MRK	-0.78	0.52	-0.86	0.64	-0.69	0.14	0.33	-0.66		-0.27	MRK
XOM	0.18	-0.25	0.45	0.24	0.44	-0.04	-0.3	0.19	-0.27		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	+ 0.89	META
CRM	+ 0.88	MSFT
T	+ 0.8	UBER
CRM	+ 0.74	A
UBER	+ 0.68	META
A	+ 0.64	MSFT

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.78	META
T	- 0.76	MSFT
MRK	- 0.69	T
CRM	- 0.67	T
MRK	- 0.66	JPM

Harbor ETF Competition Risk-Adjusted Indicators

There is a big difference between Harbor Etf performing well and Harbor ETF 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 Harbor ETF'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	1.57	0.08	0.00	(0.01)	0.00	0.00	2.57	(3.59)	8.90
MSFT	1.10	(0.14)	0.00	(0.31)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.93	0.23	0.10	0.33	2.40	(2.00)	4.72	(3.30)	12.75
F	1.44	0.06	0.00	(0.04)	0.00	0.00	2.71	(2.89)	10.14
T	1.04	0.28	0.18	0.42	1.60	(1.11)	1.90	(1.75)	11.66
A	1.14	(0.15)	0.00	(0.25)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.42	(0.23)	0.00	(0.30)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.09	0.05	0.00	(0.05)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.21	(0.11)	0.00	2.40	0.00	0.00	2.07	(2.25)	11.58
XOM	1.05	0.06	0.08	0.06	1.38	(1.09)	2.55	(2.36)	5.89

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