Guggenheim Taxable Correlations

GBAB Etf

USD 15.43 0.04 0.26%

The current 90-days correlation between Guggenheim Taxable and The Gabelli Multimedia is -0.05 (i.e., Good diversification). The correlation of Guggenheim Taxable 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.

Guggenheim Taxable Correlation With Market

Modest diversification

The correlation between Guggenheim Taxable Municipal and DJI is 0.23 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guggenheim Taxable Municipal and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Guggenheim Taxable Municipal. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Guggenheim Etf

0.78	V	Visa Class A Sell-off Trend	Pair Corr
0.73	DX	Dynex Capital	Pair Corr
0.62	LX	Lexinfintech Holdings	Pair Corr
0.65	MA	Mastercard	Pair Corr
0.64	XP	Xp Inc	Pair Corr
0.61	DOMH	Dominari Holdings Earnings Call This Week	Pair Corr
0.73	GCMGW	GCM Grosvenor	Pair Corr
0.8	EMCGU	Embrace Change Acqui	Pair Corr

Moving against Guggenheim Etf

0.71	WT	WisdomTree	Pair Corr
0.66	LC	LendingClub Corp	Pair Corr
0.6	WD	Walker Dunlop	Pair Corr
0.58	DHIL	Diamond Hill Investment	Pair Corr
0.38	BX	Blackstone Group	Pair Corr
0.36	RC	Ready Capital Corp	Pair Corr
0.74	VRTS	Virtus Investment	Pair Corr
0.63	WULF	Terawulf	Pair Corr
0.43	LGHLW	Lion Financial Group	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.02	0.56	-0.5	0.23	0.43	0.32	0.9	-0.71	-0.07	META
MSFT	0.02		-0.59	-0.04	-0.83	0.75	0.88	0.21	0.41	-0.57	MSFT
UBER	0.56	-0.59		-0.31	0.78	-0.3	-0.5	0.48	-0.84	0.55	UBER
F	-0.5	-0.04	-0.31		0.06	-0.12	-0.19	-0.35	0.4	0.38	F
T	0.23	-0.83	0.78	0.06		-0.65	-0.74	0.07	-0.63	0.59	T
A	0.43	0.75	-0.3	-0.12	-0.65		0.83	0.62	0.15	-0.41	A
CRM	0.32	0.88	-0.5	-0.19	-0.74	0.83		0.42	0.23	-0.64	CRM
JPM	0.9	0.21	0.48	-0.35	0.07	0.62	0.42		-0.6	0.03	JPM
MRK	-0.71	0.41	-0.84	0.4	-0.63	0.15	0.23	-0.6		-0.36	MRK
XOM	-0.07	-0.57	0.55	0.38	0.59	-0.41	-0.64	0.03	-0.36		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	+ 0.9	META
CRM	+ 0.88	MSFT
CRM	+ 0.83	A
T	+ 0.78	UBER
A	+ 0.75	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.84	UBER
T	- 0.83	MSFT
CRM	- 0.74	T
MRK	- 0.71	META
A	- 0.65	T
XOM	- 0.64	CRM

Guggenheim Taxable Competition Risk-Adjusted Indicators

There is a big difference between Guggenheim Etf performing well and Guggenheim Taxable 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 Guggenheim Taxable'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	1.61	0.05	0.02	0.04	2.24	(1.45)	2.96	(3.73)	8.90
MSFT	1.07	(0.17)	0.00	(0.20)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.31	0.14	0.48	2.11	(2.12)	4.72	(3.13)	12.75
F	1.44	0.11	0.05	(0.36)	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	(24.36)	1.45	(1.12)	1.90	(1.55)	11.66
A	1.13	(0.15)	0.00	(0.15)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.22)	0.00	0.00	2.72	(3.53)	8.88
JPM	1.09	0.14	0.08	0.11	1.55	(1.09)	2.16	(1.98)	6.85
MRK	1.22	(0.15)	0.00	1.32	0.00	0.00	2.07	(2.25)	11.58
XOM	1.02	0.17	0.12	0.40	1.24	(1.06)	2.55	(2.36)	5.89

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