ETF Opportunities Correlations

KDRN Etf

USD 23.29 0.05 0.22%

The current 90-days correlation between ETF Opportunities Trust and Janus Detroit Street is 0.05 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ETF Opportunities moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ETF Opportunities Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ETF Opportunities Correlation With Market

Significant diversification

The correlation between ETF Opportunities Trust and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETF Opportunities Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in ETF Opportunities Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with ETF Etf

0.99	IUSB	iShares Core Total	Pair Corr
0.99	FIXD	First Trust TCW	Pair Corr
0.99	FBND	Fidelity Total Bond	Pair Corr
0.95	TOTL	SPDR DoubleLine Total	Pair Corr
0.99	HTRB	Hartford Total Return	Pair Corr
0.98	GTO	Invesco Total Return	Pair Corr
0.95	EUSB	iShares Trust	Pair Corr
0.96	JCPB	JPMorgan Core Plus	Pair Corr
0.98	VBND	Vident Core Bond	Pair Corr
0.98	CGCP	Capital Group Core	Pair Corr
0.71	GDXU	MicroSectors Gold Miners	Pair Corr
0.85	KO	Coca Cola Sell-off Trend	Pair Corr
0.89	T	ATT Inc Aggressive Push	Pair Corr
0.64	MMM	3M Company	Pair Corr
0.92	JNJ	Johnson Johnson	Pair Corr
0.77	MCD	McDonalds	Pair Corr

Moving against ETF Etf

0.58	UPRO	ProShares UltraPro SP500	Pair Corr
0.53	QTOC	Innovator ETFs Trust Low Volatility	Pair Corr
0.52	QTJA	Innovator ETFs Trust Low Volatility	Pair Corr
0.44	XTOC	Innovator ETFs Trust	Pair Corr
0.43	XTJA	Innovator ETFs Trust	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr
0.75	MSFT	Microsoft Aggressive Push	Pair Corr
0.64	CAT	Caterpillar	Pair Corr
0.57	AXP	American Express	Pair Corr
0.52	HD	Home Depot	Pair Corr
0.4	BA	Boeing	Pair Corr
0.39	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	JBBB	MMCA	PTRB	JSCP	JHCB
JBBB		0.38	0.06	0.09	0.12	JBBB
MMCA	0.38		0.87	0.83	0.88	MMCA
PTRB	0.06	0.87		0.96	0.98	PTRB
JSCP	0.09	0.83	0.96		0.93	JSCP
JHCB	0.12	0.88	0.98	0.93		JHCB
	JBBB	MMCA	PTRB	JSCP	JHCB

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ETF Opportunities Constituents Risk-Adjusted Indicators

There is a big difference between ETF Etf performing well and ETF Opportunities 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 ETF Opportunities' 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
JBBB	0.12	0.00	0.13	(0.05)	0.19	(0.13)	0.31	(0.41)	0.98
MMCA	0.17	(0.01)	0.00	(0.22)	0.00	0.00	0.33	(0.33)	0.84
PTRB	0.23	0.01	0.18	(0.19)	0.20	(0.25)	0.52	(0.38)	1.50
JSCP	0.10	0.02	0.33	(0.93)	0.00	(0.12)	0.26	(0.26)	0.77
JHCB	0.26	0.01	0.14	(0.21)	0.28	(0.29)	0.57	(0.47)	1.39

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