Robo Global Correlations

HTEC Etf

USD 31.00 0.06 0.19%

The current 90-days correlation between Robo Global Healthcare and Robo Global Artificial is 0.16 (i.e., Average diversification). The correlation of Robo Global 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.

Robo Global Correlation With Market

Average diversification

The correlation between Robo Global Healthcare and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Robo Global Healthcare 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 Robo Global Healthcare. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Robo Etf

0.64

MSFT

Microsoft Earnings Call This Week

Pair Corr

Moving against Robo Etf

0.37	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.31	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	THNQ	EDOC	IDNA	LOUP	BTEC
THNQ		0.9	-0.18	0.94	0.0	THNQ
EDOC	0.9		-0.03	0.86	0.0	EDOC
IDNA	-0.18	-0.03		-0.34	0.0	IDNA
LOUP	0.94	0.86	-0.34		0.0	LOUP
BTEC	0.0	0.0	0.0	0.0		BTEC
	THNQ	EDOC	IDNA	LOUP	BTEC

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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

LOUP	+ 0.94	THNQ
EDOC	+ 0.9	THNQ
LOUP	+ 0.86	EDOC
BTEC	+ 0.0	THNQ
BTEC	+ 0.0	EDOC
BTEC	+ 0.0	IDNA

High negative correlations

LOUP	- 0.34	IDNA
IDNA	- 0.18	THNQ
IDNA	- 0.03	EDOC
BTEC	- 0.0	LOUP
BTEC	- 0.0	IDNA
BTEC	- 0.0	EDOC

Robo Global Constituents Risk-Adjusted Indicators

There is a big difference between Robo Etf performing well and Robo Global 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 Robo Global'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
THNQ	1.11	0.18	0.10	0.46	1.23	(1.16)	2.55	(1.85)	7.36
EDOC	1.19	0.19	0.11	0.63	1.29	(1.36)	3.12	(1.94)	8.65
IDNA	1.10	(0.10)	0.00	(0.31)	0.00	0.00	1.95	(2.79)	5.86
LOUP	1.49	0.27	0.14	0.41	1.67	(1.66)	3.03	(2.56)	8.90
BTEC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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