Inspire Faithward Correlations
GLRY Etf | USD 29.76 0.64 2.20% |
The current 90-days correlation between Inspire Faithward Mid and Northern Lights is 0.9 (i.e., Almost no diversification). The correlation of Inspire Faithward 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.
Inspire Faithward Correlation With Market
Poor diversification
The correlation between Inspire Faithward Mid and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Inspire Faithward Mid and DJI in the same portfolio, assuming nothing else is changed.
Inspire |
Moving together with Inspire Etf
0.98 | VB | Vanguard Small Cap | PairCorr |
0.97 | IJR | iShares Core SP | PairCorr |
0.98 | IWM | iShares Russell 2000 | PairCorr |
0.98 | VRTIX | Vanguard Russell 2000 | PairCorr |
0.98 | VTWO | Vanguard Russell 2000 | PairCorr |
0.98 | FNDA | Schwab Fundamental Small | PairCorr |
0.97 | SPSM | SPDR Portfolio SP | PairCorr |
0.98 | DFAS | Dimensional Small Cap | PairCorr |
0.97 | VIOO | Vanguard SP Small | PairCorr |
0.97 | PRFZ | Invesco FTSE RAFI | PairCorr |
0.91 | VTI | Vanguard Total Stock | PairCorr |
0.88 | SPY | SPDR SP 500 | PairCorr |
0.88 | IVV | iShares Core SP Sell-off Trend | PairCorr |
0.91 | VUG | Vanguard Growth Index | PairCorr |
0.88 | VO | Vanguard Mid Cap | PairCorr |
0.79 | MSFT | Microsoft | PairCorr |
0.68 | BA | Boeing | PairCorr |
0.81 | CAT | Caterpillar | PairCorr |
0.89 | BAC | Bank of America Sell-off Trend | PairCorr |
0.9 | HD | Home Depot | PairCorr |
0.71 | DIS | Walt Disney | PairCorr |
Moving against Inspire Etf
0.68 | BND | Vanguard Total Bond Sell-off Trend | PairCorr |
0.51 | VEA | Vanguard FTSE Developed | PairCorr |
0.43 | GDXU | MicroSectors Gold Miners | PairCorr |
0.77 | VZ | Verizon Communications | PairCorr |
0.71 | JNJ | Johnson Johnson | PairCorr |
0.7 | TRV | The Travelers Companies | PairCorr |
0.63 | T | ATT Inc Earnings Call Today | PairCorr |
0.45 | PG | Procter Gamble | PairCorr |
0.36 | INTC | Intel | PairCorr |
0.34 | XOM | Exxon Mobil Corp Aggressive Push | PairCorr |
Related Correlations Analysis
0.88 | -0.02 | 0.74 | 0.66 | BIBL | ||
0.88 | -0.06 | 0.77 | 0.61 | RISN | ||
-0.02 | -0.06 | -0.59 | 0.71 | WWJD | ||
0.74 | 0.77 | -0.59 | 0.14 | ISMD | ||
0.66 | 0.61 | 0.71 | 0.14 | BLES | ||
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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
| High negative correlations
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Inspire Faithward Constituents Risk-Adjusted Indicators
There is a big difference between Inspire Etf performing well and Inspire Faithward 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 Inspire Faithward'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 | ||
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BIBL | 0.92 | (0.03) | 0.00 | (0.10) | 0.00 | 1.60 | 4.41 | |||
RISN | 0.66 | (0.06) | 0.00 | (0.18) | 0.00 | 1.18 | 3.36 | |||
WWJD | 0.67 | 0.09 | 0.14 | 0.10 | 0.80 | 1.39 | 4.13 | |||
ISMD | 0.89 | (0.14) | 0.00 | (0.22) | 0.00 | 1.39 | 4.10 | |||
BLES | 0.68 | 0.01 | 0.00 | (0.05) | 0.00 | 1.26 | 3.52 |