Guru Favorite Correlations

Etfs . USA . 
Etf . Guru Favorite Stocks
GFGF Etf  USD 30.73  0.05  0.16%   
The current 90-days correlation between Guru Favorite Stocks and Global X Aging is 0.59 (i.e., Very weak diversification). The correlation of Guru Favorite 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.

Guru Favorite Correlation With Market

Poor diversification

The correlation between Guru Favorite Stocks and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guru Favorite Stocks 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 Guru Favorite Stocks. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Guru Etf

  0.98VTI Vanguard Total StockPairCorr
  0.98SPY SPDR SP 500PairCorr
  0.98IVV iShares Core SP Sell-off TrendPairCorr
  0.81VIG Vanguard DividendPairCorr
  0.98VV Vanguard Large CapPairCorr
  0.9RSP Invesco SP 500PairCorr
  0.98IWB iShares Russell 1000PairCorr
  0.98ESGU iShares ESG AwarePairCorr
  0.98DFAC Dimensional Core EquityPairCorr
  0.98SPLG SPDR Portfolio SPPairCorr
  0.97UPRO ProShares UltraPro SP500PairCorr
  0.92QTJA Innovator ETFs TrustPairCorr
  0.95QTOC Innovator ETFs TrustPairCorr
  0.96XTOC Innovator ETFs TrustPairCorr
  0.77QTAP Innovator Growth 100 Low VolatilityPairCorr
  0.93XTJA Innovator ETFs TrustPairCorr
  0.75JPM JPMorgan ChasePairCorr
  0.9HD Home DepotPairCorr
  0.95AXP American Express Sell-off TrendPairCorr
  0.71CAT CaterpillarPairCorr
  0.77DIS Walt DisneyPairCorr
  0.89BAC Bank of America Sell-off TrendPairCorr
  0.7MSFT MicrosoftPairCorr

Moving against Guru Etf

  0.31GDXU MicroSectors Gold MinersPairCorr
  0.58VZ Verizon CommunicationsPairCorr
  0.49JNJ Johnson JohnsonPairCorr
  0.48KO Coca ColaPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
IBTH
+ 0.97
IBTK
IHYF
+ 0.87
AGNG
IHYF
+ 0.86
IBTH
IHYF
+ 0.83
IBTK
IBTH
+ 0.71
AGNG
IBTK
+ 0.69
AGNG
  
High negative correlations   
IBTH
- 0.43
GTR
IBTK
- 0.35
GTR
IHYF
- 0.03
GTR

Guru Favorite Constituents Risk-Adjusted Indicators

There is a big difference between Guru Etf performing well and Guru Favorite 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 Guru Favorite'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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY