VanEck High Correlations

HYD Etf

USD 51.72 0.08 0.15%

The current 90-days correlation between VanEck High Yield and SPDR Nuveen Bloomberg is 0.8 (i.e., Very poor diversification). The correlation of VanEck High 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.

VanEck High Correlation With Market

Modest diversification

The correlation between VanEck High Yield and DJI is 0.22 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck High Yield 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 VanEck High Yield. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with VanEck Etf

0.8	SHYD	VanEck Short High	Pair Corr
0.86	FMHI	First Trust Municipal	Pair Corr
0.88	FLMI	Franklin Liberty Int	Pair Corr
0.8	PMBS	PIMCO Mortgage Backed	Pair Corr
0.74	YCL	ProShares Ultra Yen	Pair Corr
0.76	FXY	Invesco CurrencyShares	Pair Corr
0.84	CGSM	Capital Group Fixed	Pair Corr
0.84	AGIH	iShares ETF Trust	Pair Corr
0.81	VEMGF	Vanguard Funds Public	Pair Corr
0.61	AGQI	First Trust Exchange	Pair Corr
0.92	IROC	IROC Symbol Change	Pair Corr
0.78	VGIT	Vanguard Intermediate	Pair Corr
0.8	UTWY	US Treasury 20	Pair Corr
0.73	IYK	iShares Consumer Staples	Pair Corr
0.69	IBIC	iShares Trust	Pair Corr
0.82	PCRB	Putnam ETF Trust	Pair Corr
0.65	GLTR	abrdn Physical Precious	Pair Corr
0.94	MYMH	SPDR SSGA My2028	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.47	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.44	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.04	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.07	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.41	-0.71	0.17	-0.65	0.58	T
A	0.47	0.44	-0.04	-0.07	-0.41		0.57	0.7	-0.02	-0.18	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.57		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.7	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	-0.02	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.18	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
JPM	+ 0.7	A
UBER	+ 0.59	META
XOM	+ 0.58	T

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

VanEck High Competition Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck High 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 VanEck High'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
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.17	(0.12)	0.00	(0.21)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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