US Global Correlations

Etfs . USA . 
Etf . US Global Jets
JETS Etf  USD 24.55  0.06  0.24%   
The current 90-days correlation between US Global Jets and Industrial Select Sector is 0.6 (i.e., Poor diversification). The correlation of US 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. If the correlation is 0, the equities are not correlated; they are entirely random.

US Global Correlation With Market

Poor diversification

The correlation between US Global Jets and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding US Global Jets 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 US Global Jets. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with JETS Etf

  0.89XLI Industrial Select SectorPairCorr
  0.81DRVN Driven Brands HoldingsPairCorr
  0.68ITA iShares Aerospace DefensePairCorr
  0.91VIS Vanguard IndustrialsPairCorr
  0.92FXR First Trust IndustriPairCorr
  0.87PPA Invesco Aerospace DefensePairCorr
  0.92IYJ iShares Industrials ETFPairCorr
  0.94IYT iShares Transportation Low VolatilityPairCorr
  0.9FIDU Fidelity MSCI IndustrialsPairCorr
  0.71MAPP Harbor ETF TrustPairCorr
  0.82EVUS iShares ESG AwarePairCorr
  0.62XOP SPDR SP OilPairCorr
  0.95EOS Eaton Vance EnhancedPairCorr
  0.9VBK Vanguard Small CapPairCorr
  0.85T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.85WMT Walmart Aggressive PushPairCorr
  0.85JPM JPMorgan Chase Sell-off TrendPairCorr
  0.75CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.92AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.74HPQ HP IncPairCorr
  0.9BAC Bank of America Aggressive PushPairCorr
  0.87CVX Chevron Corp Sell-off TrendPairCorr
  0.82INTC Intel Fiscal Year End 23rd of January 2025 PairCorr

Moving against JETS Etf

  0.92BITI ProShares TrustPairCorr
  0.84HART IQ Healthy HeartsPairCorr
  0.71GREI Goldman Sachs FuturePairCorr
  0.94MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.91KO Coca Cola Aggressive PushPairCorr
  0.75PFE Pfizer Inc Aggressive PushPairCorr
  0.7BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

US Global Constituents Risk-Adjusted Indicators

There is a big difference between JETS Etf performing well and US 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 US 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.

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