ETRACS Monthly Correlations

HDLB Etf

USD 15.40 0.13 0.84%

The current 90-days correlation between ETRACS Monthly Pay and ETRACS 2xMonthly Pay is 0.55 (i.e., Very weak diversification). The correlation of ETRACS Monthly 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.

ETRACS Monthly Correlation With Market

Weak diversification

The correlation between ETRACS Monthly Pay and DJI is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETRACS Monthly Pay 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 ETRACS Monthly Pay. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with ETRACS Etf

0.82	GDXU	MicroSectors Gold Miners	Pair Corr
0.68	PG	Procter Gamble	Pair Corr
0.97	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.69	CSCO	Cisco Systems	Pair Corr
0.97	JNJ	Johnson Johnson	Pair Corr
0.79	TRV	The Travelers Companies	Pair Corr
0.79	IBM	International Business	Pair Corr
0.72	GE	GE Aerospace	Pair Corr
0.68	XOM	Exxon Mobil Corp	Pair Corr
0.68	INTC	Intel	Pair Corr
0.85	MCD	McDonalds	Pair Corr
0.95	KO	Coca Cola	Pair Corr

Moving against ETRACS Etf

0.68	WTMF	WisdomTree Managed	Pair Corr
0.67	TECL	Direxion Daily Technology	Pair Corr
0.64	LABU	Direxion Daily SP	Pair Corr
0.55	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.54	QLD	ProShares Ultra QQQ	Pair Corr
0.5	OIH	VanEck Oil Services	Pair Corr
0.47	SPXL	Direxion Daily SP500	Pair Corr
0.47	UPRO	ProShares UltraPro SP500	Pair Corr
0.46	GUSH	Direxion Daily SP	Pair Corr
0.46	ARKW	ARK Next Generation	Pair Corr
0.44	SSO	ProShares Ultra SP500	Pair Corr
0.36	BST	BlackRock Science Tech	Pair Corr
0.77	MSFT	Microsoft	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.64	CAT	Caterpillar	Pair Corr
0.57	MRK	Merck Company	Pair Corr
0.53	AXP	American Express	Pair Corr
0.48	DIS	Walt Disney	Pair Corr
0.45	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	SMHB	PFFL	MVRL	CEFD	BDCX
SMHB		0.54	0.68	0.73	0.72	SMHB
PFFL	0.54		0.26	0.48	0.38	PFFL
MVRL	0.68	0.26		0.45	0.58	MVRL
CEFD	0.73	0.48	0.45		0.86	CEFD
BDCX	0.72	0.38	0.58	0.86		BDCX
	SMHB	PFFL	MVRL	CEFD	BDCX

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ETRACS Monthly Constituents Risk-Adjusted Indicators

There is a big difference between ETRACS Etf performing well and ETRACS Monthly 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 ETRACS Monthly'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
SMHB	1.92	0.03	0.00	(0.04)	0.00	0.00	3.84	(4.67)	12.85
PFFL	1.05	(0.02)	0.00	(0.10)	0.00	0.00	2.36	(2.59)	8.42
MVRL	1.40	0.15	0.08	0.07	1.71	(1.41)	2.93	(2.69)	6.74
CEFD	0.75	0.01	0.00	(0.06)	0.00	0.00	1.43	(1.77)	4.34
BDCX	1.21	0.10	0.05	0.04	1.74	(1.25)	2.75	(2.44)	9.39

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