MTrack Energy Correlations

ENGY Etf

THB 4.41 0.06 1.34%

The current 90-days correlation between MTrack Energy ETF and ThaiDex SET50 Exchange is 0.51 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MTrack Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MTrack Energy ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MTrack Energy Correlation With Market

Average diversification

The correlation between MTrack Energy ETF and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MTrack Energy ETF and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to MTrack Energy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MTrack Energy when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back MTrack Energy - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling MTrack Energy ETF to buy it.

Moving together with MTrack Etf

0.79	BMSCITH	BCAP MSCI Thailand	Pair Corr
0.89	1DIV	ThaiDEX SET High	Pair Corr

Moving against MTrack Etf

0.43

GLD

KTAM Gold ETF

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.69	-0.51	-0.41	0.48	0.27	0.58	0.3	-0.22	-0.44	META
MSFT	0.69		-0.6	-0.31	0.44	0.09	0.49	0.28	-0.08	-0.76	MSFT
UBER	-0.51	-0.6		0.39	-0.7	0.17	-0.75	-0.52	0.56	0.67	UBER
F	-0.41	-0.31	0.39		0.05	-0.28	0.01	0.34	-0.11	0.61	F
T	0.48	0.44	-0.7	0.05		-0.32	0.88	0.85	-0.72	-0.35	T
A	0.27	0.09	0.17	-0.28	-0.32		-0.32	-0.51	0.67	0.03	A
CRM	0.58	0.49	-0.75	0.01	0.88	-0.32		0.89	-0.8	-0.38	CRM
JPM	0.3	0.28	-0.52	0.34	0.85	-0.51	0.89		-0.84	-0.16	JPM
MRK	-0.22	-0.08	0.56	-0.11	-0.72	0.67	-0.8	-0.84		0.15	MRK
XOM	-0.44	-0.76	0.67	0.61	-0.35	0.03	-0.38	-0.16	0.15		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	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
MSFT	+ 0.69	META
XOM	+ 0.67	UBER
MRK	+ 0.67	A

High negative correlations

MRK	- 0.84	JPM
MRK	- 0.8	CRM
XOM	- 0.76	MSFT
CRM	- 0.75	UBER
MRK	- 0.72	T
T	- 0.7	UBER

MTrack Energy Competition Risk-Adjusted Indicators

There is a big difference between MTrack Etf performing well and MTrack Energy 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 MTrack Energy'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	1.16	0.06	0.03	0.15	1.43	(1.27)	2.62	(3.15)	7.43
MSFT	0.87	(0.02)	(0.02)	(0.01)	1.63	(0.78)	1.78	(2.23)	8.14
UBER	1.71	(0.32)	0.00	(0.34)	0.00	0.00	2.67	(5.35)	20.41
F	1.44	(0.15)	0.00	(0.08)	0.00	0.00	2.53	(2.90)	11.21
T	0.96	0.11	0.08	0.52	1.12	(1.02)	1.93	(1.99)	7.95
A	1.24	(0.09)	0.00	(0.16)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.48	0.37	0.23	0.30	1.30	(1.66)	3.18	(2.88)	14.80
JPM	1.04	0.16	0.14	0.11	1.08	(1.20)	1.99	(1.44)	15.87
MRK	0.96	(0.27)	0.00	(1.10)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.90	(0.14)	0.00	(0.43)	0.00	0.00	1.83	(2.14)	6.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in MTrack Energy without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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