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

0.9	VTV	Vanguard Value Index	Pair Corr
0.84	VYM	Vanguard High Dividend	Pair Corr
0.92	IWD	iShares Russell 1000	Pair Corr
0.88	DGRO	iShares Core Dividend	Pair Corr
0.93	IVE	iShares SP 500	Pair Corr
0.84	DVY	iShares Select Dividend	Pair Corr
0.93	SPYV	SPDR Portfolio SP	Pair Corr
0.71	FVD	First Trust Value	Pair Corr
0.93	IUSV	iShares Core SP	Pair Corr
0.72	NOBL	ProShares SP 500	Pair Corr
0.63	WMT	Walmart	Pair Corr
0.67	JPM	JPMorgan Chase	Pair Corr
0.73	HD	Home Depot	Pair Corr

Moving against Humankind Etf

0.51

WTID

UBS ETRACS

Pair Corr

Related Correlations Analysis

	IQSU	GSPY	GSUS	JSTC	GSFP
IQSU		0.92	0.94	0.78	0.5	IQSU
GSPY	0.92		0.99	0.88	0.59	GSPY
GSUS	0.94	0.99		0.86	0.55	GSUS
JSTC	0.78	0.88	0.86		0.87	JSTC
GSFP	0.5	0.59	0.55	0.87		GSFP
	IQSU	GSPY	GSUS	JSTC	GSFP

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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.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
IQSU	0.73	(0.08)	(0.24)	1.18	(1.70)	5.25
GSPY	0.74	(0.02)	(0.17)	1.17	(1.63)	4.47
GSUS	0.76	(0.04)	(0.19)	1.21	(1.74)	4.66
JSTC	0.57	(0.03)	(0.20)	0.90	(1.38)	3.71
GSFP	0.71	0.00	(0.15)	1.51	(1.50)	4.20

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