Humankind Benefit Correlations

HKND Etf  USD 31.67  0.28  0.89%   
The current 90-days correlation between Humankind Benefit and IQ Candriam ESG is 0.75 (i.e., Poor diversification). The correlation of Humankind Benefit 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.

Humankind Benefit Correlation With Market

Poor diversification

The correlation between Humankind Benefit and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Humankind Benefit 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 Humankind Benefit. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Humankind Etf

  0.9VTV Vanguard Value IndexPairCorr
  0.84VYM Vanguard High DividendPairCorr
  0.92IWD iShares Russell 1000PairCorr
  0.88DGRO iShares Core DividendPairCorr
  0.93IVE iShares SP 500PairCorr
  0.84DVY iShares Select DividendPairCorr
  0.93SPYV SPDR Portfolio SPPairCorr
  0.71FVD First Trust ValuePairCorr
  0.93IUSV iShares Core SPPairCorr
  0.72NOBL ProShares SP 500PairCorr
  0.63WMT WalmartPairCorr
  0.67JPM JPMorgan ChasePairCorr
  0.73HD Home DepotPairCorr

Moving against Humankind Etf

  0.51WTID UBS ETRACSPairCorr

Related Correlations Analysis

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Humankind Benefit Constituents Risk-Adjusted Indicators

There is a big difference between Humankind Etf performing well and Humankind Benefit 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 Humankind Benefit'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.