Xtrackers Low Correlations

HYDW Etf

USD 46.51 0.03 0.06%

The current 90-days correlation between Xtrackers Low Beta and Xtrackers High Beta is 0.93 (i.e., Almost no diversification). The correlation of Xtrackers Low 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Xtrackers Low Correlation With Market

Very weak diversification

The correlation between Xtrackers Low Beta and DJI is 0.49 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xtrackers Low Beta 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 Xtrackers Low Beta. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Xtrackers Etf

0.96	HYG	iShares iBoxx High	Pair Corr
0.96	USHY	iShares Broad USD	Pair Corr
0.93	JNK	SPDR Bloomberg High	Pair Corr
0.94	SHYG	iShares 0 5	Pair Corr
0.96	HYLB	Xtrackers USD High	Pair Corr
0.93	SJNK	SPDR Bloomberg Short	Pair Corr
0.97	ANGL	VanEck Fallen Angel	Pair Corr
0.98	FALN	iShares Fallen Angels	Pair Corr
0.84	HYLS	First Trust Tactical	Pair Corr
0.84	BABX	GraniteShares 175x Long	Pair Corr
0.85	GDXU	MicroSectors Gold Miners	Pair Corr
0.83	XPP	ProShares Ultra FTSE	Pair Corr
0.84	JNUG	Direxion Daily Junior	Pair Corr
0.69	MCD	McDonalds	Pair Corr
0.89	MMM	3M Company	Pair Corr
0.64	XOM	Exxon Mobil Corp	Pair Corr
0.75	CVX	Chevron Corp	Pair Corr
0.8	KO	Coca Cola	Pair Corr
0.73	TRV	The Travelers Companies	Pair Corr
0.89	JNJ	Johnson Johnson	Pair Corr
0.78	CSCO	Cisco Systems	Pair Corr

Moving against Xtrackers Etf

0.49	WTID	UBS ETRACS	Pair Corr
0.69	MSFT	Microsoft	Pair Corr
0.64	MRK	Merck Company	Pair Corr
0.44	HPQ	HP Inc	Pair Corr
0.36	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	HYUP	SHYL	GHYB	HYGV	FDHY
HYUP		0.98	0.97	0.99	0.97	HYUP
SHYL	0.98		0.98	0.97	0.97	SHYL
GHYB	0.97	0.98		0.95	0.98	GHYB
HYGV	0.99	0.97	0.95		0.95	HYGV
FDHY	0.97	0.97	0.98	0.95		FDHY
	HYUP	SHYL	GHYB	HYGV	FDHY

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Xtrackers Low Constituents Risk-Adjusted Indicators

There is a big difference between Xtrackers Etf performing well and Xtrackers Low 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 Xtrackers Low'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
HYUP	0.23	0.02	0.21	0.02	0.31	(0.23)	0.53	(0.51)	1.62
SHYL	0.20	0.01	0.22	0.03	0.28	(0.21)	0.43	(0.47)	1.63
GHYB	0.23	0.02	0.24	0.04	0.28	(0.23)	0.50	(0.40)	1.36
HYGV	0.24	0.01	0.20	0.00	0.31	(0.23)	0.47	(0.44)	1.31
FDHY	0.21	0.02	0.24	0.06	0.27	(0.21)	0.39	(0.41)	1.38

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