Pacer Global Correlations

GCOW Etf

USD 35.19 0.21 0.60%

The current 90-days correlation between Pacer Global Cash and Simplify Bitcoin Strategy is 0.14 (i.e., Average diversification). The correlation of Pacer 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Pacer Global Correlation With Market

Weak diversification

The correlation between Pacer Global Cash and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacer Global Cash 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 Pacer Global Cash. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Pacer Etf

0.7	WDIV	SPDR SP Global	Pair Corr
0.91	DIVD	Altrius Global Dividend	Pair Corr

Moving against Pacer Etf

0.74	QTOC	Innovator ETFs Trust	Pair Corr
0.73	IGV	iShares Expanded Tech	Pair Corr
0.71	XTOC	Innovator ETFs Trust	Pair Corr
0.69	DRVN	Driven Brands Holdings	Pair Corr
0.69	TFLR	T Rowe Price	Pair Corr
0.67	TSJA	TSJA	Pair Corr
0.66	PFIX	Simplify Interest Rate	Pair Corr
0.65	DSJA	DSJA	Pair Corr
0.57	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.55	XTJA	Innovator ETFs Trust	Pair Corr
0.55	XDJA	Innovator ETFs Trust	Pair Corr
0.55	SFYX	SoFi Next 500	Pair Corr
0.55	DVY	iShares Select Dividend	Pair Corr
0.55	SCHG	Schwab Large Cap	Pair Corr
0.52	XTAP	Innovator Equity Acc	Pair Corr
0.52	ITOT	iShares Core SP	Pair Corr
0.49	QTJA	Innovator ETFs Trust	Pair Corr
0.49	QTAP	Innovator Growth 100	Pair Corr
0.46	UPRO	ProShares UltraPro SP500	Pair Corr
0.38	PUI	Invesco DWA Utilities	Pair Corr
0.37	WLDR	Affinity World Leaders	Pair Corr

Related Correlations Analysis

	MAXI	IVEG	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX	OSHDF
MAXI		0.3	0.0	0.3	0.49	-0.11	-0.79	0.81	0.33	0.79	MAXI
IVEG	0.3		0.0	0.82	0.71	0.34	-0.1	0.04	0.68	0.1	IVEG
AQUI	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.3	0.82	0.0		0.67	0.34	-0.02	-0.08	0.81	0.02	MSTSX
LBHIX	0.49	0.71	0.0	0.67		0.51	-0.29	0.22	0.69	0.29	LBHIX
ABHYX	-0.11	0.34	0.0	0.34	0.51		-0.05	-0.17	0.41	0.05	ABHYX
SCAXF	-0.79	-0.1	0.0	-0.02	-0.29	-0.05		-0.8	-0.07	-1.0	SCAXF
VIASP	0.81	0.04	0.0	-0.08	0.22	-0.17	-0.8		0.01	0.8	VIASP
RRTLX	0.33	0.68	0.0	0.81	0.69	0.41	-0.07	0.01		0.07	RRTLX
OSHDF	0.79	0.1	0.0	0.02	0.29	0.05	-1.0	0.8	0.07		OSHDF
	MAXI	IVEG	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX	OSHDF

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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

MSTSX	+ 0.82	IVEG
VIASP	+ 0.81	MAXI
RRTLX	+ 0.81	MSTSX
OSHDF	+ 0.8	VIASP
OSHDF	+ 0.79	MAXI
LBHIX	+ 0.71	IVEG

High negative correlations

OSHDF	- 1.0	SCAXF
VIASP	- 0.8	SCAXF
SCAXF	- 0.79	MAXI
SCAXF	- 0.29	LBHIX
VIASP	- 0.17	ABHYX
ABHYX	- 0.11	MAXI

Pacer Global Constituents Risk-Adjusted Indicators

There is a big difference between Pacer Etf performing well and Pacer Global 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 Pacer 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
MAXI	2.75	0.28	0.14	0.24	2.77	(2.99)	5.99	(5.08)	17.89
IVEG	0.66	(0.02)	(0.08)	0.09	0.84	(0.66)	1.22	(1.24)	4.36
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80
LBHIX	0.11	0.01	(0.42)	0.38	0.00	(0.29)	0.24	(0.24)	0.96
ABHYX	0.17	0.00	(0.24)	0.19	0.25	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.41)	0.00	(0.98)	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.07	(0.04)	(2.04)	1.13	(0.80)	2.28	(1.20)	7.18
RRTLX	0.23	0.00	(0.34)	0.13	0.26	(0.26)	0.48	(0.56)	1.36
OSHDF	39.65	22.66	0.00	(0.96)	0.00	0.00	0.00	0.00	1,329

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