PowerShares Global Correlations

EWQQF Etf

USD 366.34 0.75 0.21%

The current 90-days correlation between PowerShares Global Funds and Vanguard Total Stock is 0.02 (i.e., Significant diversification). The correlation of PowerShares Global 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.

PowerShares Global Correlation With Market

Good diversification

The correlation between PowerShares Global Funds and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PowerShares Global Funds 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 PowerShares Global Funds. Also, note that the market value of any otc etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with PowerShares OTC Etf

0.81	VTI	Vanguard Total Stock	Pair Corr
0.82	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.82	IVV	iShares Core SP	Pair Corr
0.93	VUG	Vanguard Growth Index	Pair Corr
0.63	VB	Vanguard Small Cap	Pair Corr
0.89	DSJA	DSJA	Pair Corr
0.88	RSPY	Tuttle Capital Management	Pair Corr
0.89	MEME	Roundhill Investments	Pair Corr
0.92	AMZU	Direxion Daily AMZN	Pair Corr
0.91	ARKQ	ARK Autonomous Technology Low Volatility	Pair Corr
0.9	SOFR	SOFR Symbol Change	Pair Corr
0.8	NUMG	Nuveen ESG Mid	Pair Corr
0.85	JBBB	Janus Detroit Street	Pair Corr
0.85	GPIX	Goldman Sachs SP	Pair Corr
0.85	FEDL	UBS AG London	Pair Corr
0.93	FELG	Fidelity Covington Trust	Pair Corr
0.89	JANW	AIM ETF Products	Pair Corr
0.84	SABA	Saba Capital Income Symbol Change	Pair Corr
0.83	VIRS	Pacer Financial	Pair Corr
0.78	SNPE	Xtrackers SP 500	Pair Corr
0.82	IYZ	IShares Telecommunicatio	Pair Corr
0.91	QJUN	First Trust Exchange	Pair Corr
0.8	IDAT	Ishares Trust	Pair Corr
0.9	BSCO	Invesco BulletShares 2024	Pair Corr
0.78	FFTY	Innovator IBD 50	Pair Corr
0.72	SHYL	Xtrackers Short Duration	Pair Corr
0.88	APRJ	Innovator Premium Income	Pair Corr
0.87	RXI	iShares Global Consumer	Pair Corr
0.7	CPAI	Northern Lights	Pair Corr
0.71	EFU	ProShares UltraShort MSCI	Pair Corr

Moving against PowerShares OTC Etf

0.71	VEA	Vanguard FTSE Developed	Pair Corr
0.66	VWO	Vanguard FTSE Emerging	Pair Corr
0.46	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.32	PMBS	PIMCO Mortgage Backed	Pair Corr
0.58	MCHI	iShares MSCI China	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.79	-0.54	-0.45	0.45	0.29	0.56	0.26	-0.13	-0.53	META
MSFT	0.79		-0.65	-0.37	0.56	0.05	0.63	0.39	-0.23	-0.75	MSFT
UBER	-0.54	-0.65		0.47	-0.72	0.18	-0.78	-0.55	0.61	0.75	UBER
F	-0.45	-0.37	0.47		0.01	-0.23	-0.06	0.28	-0.08	0.69	F
T	0.45	0.56	-0.72	0.01		-0.3	0.87	0.83	-0.68	-0.44	T
A	0.29	0.05	0.18	-0.23	-0.3		-0.31	-0.51	0.71	0.09	A
CRM	0.56	0.63	-0.78	-0.06	0.87	-0.31		0.87	-0.77	-0.5	CRM
JPM	0.26	0.39	-0.55	0.28	0.83	-0.51	0.87		-0.83	-0.27	JPM
MRK	-0.13	-0.23	0.61	-0.08	-0.68	0.71	-0.77	-0.83		0.29	MRK
XOM	-0.53	-0.75	0.75	0.69	-0.44	0.09	-0.5	-0.27	0.29		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

CRM	+ 0.87	T
JPM	+ 0.87	CRM
JPM	+ 0.83	T
MSFT	+ 0.79	META
XOM	+ 0.75	UBER
MRK	+ 0.71	A

High negative correlations

MRK	- 0.83	JPM
CRM	- 0.78	UBER
MRK	- 0.77	CRM
XOM	- 0.75	MSFT
T	- 0.72	UBER
MRK	- 0.68	T

PowerShares Global Competition Risk-Adjusted Indicators

There is a big difference between PowerShares OTC Etf performing well and PowerShares Global OTC 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 PowerShares Global'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	1.21	0.08	0.04	0.42	1.41	(1.37)	2.62	(3.15)	7.43
MSFT	0.87	0.00	(0.02)	0.02	1.65	(0.78)	1.78	(2.23)	8.14
UBER	1.65	(0.33)	0.00	(1.73)	0.00	0.00	2.53	(5.35)	20.41
F	1.39	(0.03)	0.00	(0.12)	0.00	0.00	2.53	(2.81)	11.21
T	0.95	0.10	0.07	0.39	1.13	(0.98)	1.93	(1.99)	7.95
A	1.19	(0.04)	0.00	(0.12)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.46	0.33	0.19	20.66	1.34	(1.66)	3.18	(2.88)	14.80
JPM	1.06	0.23	0.16	(3.32)	1.11	(1.26)	1.99	(1.44)	15.87
MRK	0.97	(0.21)	0.00	(0.97)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.84	(0.11)	0.00	(0.64)	0.00	0.00	1.83	(2.14)	6.06

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