Source KBW Correlations

KFTK Etf

56.28 0.70 1.23%

The current 90-days correlation between Source KBW NASDAQ and UBS Fund Solutions is 0.31 (i.e., Weak diversification). The correlation of Source KBW 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.

Source KBW Correlation With Market

Very weak diversification

The correlation between Source KBW NASDAQ and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Source KBW NASDAQ and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Source KBW could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Source KBW when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Source KBW - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Source KBW NASDAQ to buy it.

Moving together with Source Etf

0.71	GQ9	SPDR Gold Shares	Pair Corr
0.98	VUSA	Vanguard Funds Public	Pair Corr
0.97	SXR8	iShares Core SP	Pair Corr
0.88	SYBJ	SSgA SPDR ETFs	Pair Corr
0.78	TRDX	Invesco Treasury Bond	Pair Corr
0.95	GERD	LG Gerd Kommer	Pair Corr
0.98	VLUS	BNP Paribas Easy	Pair Corr
0.92	XDWT	Xtrackers MSCI World	Pair Corr
0.8	DFEN	VanEck Defense ETF	Pair Corr
0.92	TRDS	Invesco Us Treasury	Pair Corr
0.92	T3KE	HANetf ICAV	Pair Corr
0.94	US9L	WisdomTree SP 500	Pair Corr
0.96	VWCE	Vanguard FTSE All	Pair Corr
0.95	V80A	Vanguard Funds PLC	Pair Corr
0.7	DBX4	Xtrackers MSCI	Pair Corr
0.98	UBU9	UBS plc	Pair Corr
0.96	VGWL	Vanguard FTSE All	Pair Corr
0.96	C101	Lyxor Fed Funds	Pair Corr
0.99	OUFE	Ossiam Irl Icav	Pair Corr
0.96	DBPG	Xtrackers SP	Pair Corr

Moving against Source Etf

0.5

DBPD

Xtrackers ShortDAX

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.76	-0.53	-0.44	0.46	0.28	0.57	0.28	-0.18	-0.5	META
MSFT	0.76		-0.64	-0.35	0.51	0.06	0.57	0.35	-0.17	-0.76	MSFT
UBER	-0.53	-0.64		0.44	-0.72	0.18	-0.77	-0.54	0.59	0.71	UBER
F	-0.44	-0.35	0.44		0.02	-0.25	-0.04	0.31	-0.09	0.66	F
T	0.46	0.51	-0.72	0.02		-0.31	0.88	0.84	-0.7	-0.4	T
A	0.28	0.06	0.18	-0.25	-0.31		-0.32	-0.51	0.69	0.07	A
CRM	0.57	0.57	-0.77	-0.04	0.88	-0.32		0.88	-0.79	-0.46	CRM
JPM	0.28	0.35	-0.54	0.31	0.84	-0.51	0.88		-0.84	-0.22	JPM
MRK	-0.18	-0.17	0.59	-0.09	-0.7	0.69	-0.79	-0.84		0.24	MRK
XOM	-0.5	-0.76	0.71	0.66	-0.4	0.07	-0.46	-0.22	0.24		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

CRM	+ 0.88	T
JPM	+ 0.88	CRM
JPM	+ 0.84	T
MSFT	+ 0.76	META
XOM	+ 0.71	UBER
MRK	+ 0.69	A

High negative correlations

MRK	- 0.84	JPM
MRK	- 0.79	CRM
CRM	- 0.77	UBER
XOM	- 0.76	MSFT
T	- 0.72	UBER
MRK	- 0.7	T

Source KBW Competition Risk-Adjusted Indicators

There is a big difference between Source Etf performing well and Source KBW 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 Source KBW'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	1.21	0.10	0.05	0.23	1.41	(1.36)	2.62	(3.15)	7.43
MSFT	0.86	0.00	(0.01)	0.03	1.61	(0.78)	1.78	(2.23)	8.14
UBER	1.70	(0.29)	0.00	(0.30)	0.00	0.00	2.67	(5.35)	20.41
F	1.45	(0.15)	0.00	(0.07)	0.00	0.00	2.53	(2.90)	11.21
T	0.95	0.11	0.07	0.52	1.14	(1.00)	1.93	(1.99)	7.95
A	1.23	(0.05)	0.00	(0.07)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.47	0.37	0.23	0.31	1.31	(1.67)	3.18	(2.88)	14.80
JPM	1.06	0.16	0.15	0.13	1.09	(1.25)	1.99	(1.44)	15.87
MRK	0.97	(0.23)	0.00	(0.89)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.87	(0.15)	0.00	(0.47)	0.00	0.00	1.83	(2.14)	6.06

Source KBW Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Source KBW etf to make a market-neutral strategy. Peer analysis of Source KBW could also be used in its relative valuation, which is a method of valuing Source KBW by comparing valuation metrics with similar companies.

UBS Fund Solutions Xtrackers II Xtrackers Nikkei 225 iShares VII PLC SPDR Gold Shares Vanguard Funds Public iShares Nikkei 225 iShares Core SP iShares Core MSCI iShares Core MSCI American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

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