ALPS Equal Correlations

EQL Etf

USD 129.56 0.58 0.45%

The current 90-days correlation between ALPS Equal Sector and WisdomTree Earnings 500 is 0.89 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ALPS Equal moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ALPS Equal Sector moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ALPS Equal Correlation With Market

Very weak diversification

The correlation between ALPS Equal Sector and DJI is 0.4 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALPS Equal Sector 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 ALPS Equal Sector. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with ALPS Etf

0.94	VTV	Vanguard Value Index	Pair Corr
0.95	VYM	Vanguard High Dividend	Pair Corr
0.97	IWD	iShares Russell 1000	Pair Corr
0.95	DGRO	iShares Core Dividend	Pair Corr
0.92	IVE	iShares SP 500	Pair Corr
0.95	DVY	iShares Select Dividend	Pair Corr
0.92	SPYV	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.87	FVD	First Trust Value	Pair Corr
0.93	IUSV	iShares Core SP	Pair Corr
0.77	NOBL	ProShares SP 500	Pair Corr
0.71	SHLD	Global X Funds	Pair Corr
0.75	HUM	Humana Inc Earnings Call Today	Pair Corr
0.95	SWP	SWP Growth Income	Pair Corr
0.78	DUKH	Ocean Park High	Pair Corr
0.68	SMI	VanEck Vectors ETF	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.74	TRV	The Travelers Companies	Pair Corr
0.83	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.9	HD	Home Depot	Pair Corr
0.75	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against ALPS Etf

0.45	BA	Boeing Earnings Call This Week	Pair Corr
0.44	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EPS	EQWL	EUSA	FEX	FAD
EPS		0.87	0.89	0.86	0.96	EPS
EQWL	0.87		0.98	0.97	0.91	EQWL
EUSA	0.89	0.98		0.99	0.95	EUSA
FEX	0.86	0.97	0.99		0.94	FEX
FAD	0.96	0.91	0.95	0.94		FAD
	EPS	EQWL	EUSA	FEX	FAD

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ALPS Equal Constituents Risk-Adjusted Indicators

There is a big difference between ALPS Etf performing well and ALPS Equal 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 ALPS Equal'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
EPS	0.53	0.05	0.04	0.16	0.73	(0.52)	1.10	(1.12)	5.90
EQWL	0.54	0.01	(0.01)	0.06	0.66	(0.60)	1.13	(0.90)	5.12
EUSA	0.59	0.02	0.01	0.08	0.78	(0.60)	1.29	(0.97)	5.64
FEX	0.61	0.03	0.01	0.09	0.77	(0.66)	1.36	(1.00)	6.39
FAD	0.84	0.07	0.06	0.15	0.99	(0.96)	1.66	(1.49)	7.45

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