SHP ETF Correlations

KOCG Etf

USD 28.26 0.09 0.32%

The current 90-days correlation between SHP ETF Trust and FIS Christian Stock is 0.91 (i.e., Almost no diversification). The correlation of SHP ETF 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.

SHP ETF Correlation With Market

Poor diversification

The correlation between SHP ETF Trust and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SHP ETF 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 SHP ETF 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 main economic indicators.

Moving together with SHP Etf

0.92	VT	Vanguard Total World	Pair Corr
0.92	ACWI	iShares MSCI ACWI	Pair Corr
0.92	IOO	iShares Global 100	Pair Corr
0.95	URTH	iShares MSCI World	Pair Corr
0.92	CRBN	iShares MSCI ACWI	Pair Corr
0.96	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.93	SPGM	SPDR Portfolio MSCI	Pair Corr
0.76	BA	Boeing	Pair Corr
0.82	HD	Home Depot	Pair Corr
0.67	HPQ	HP Inc	Pair Corr
0.77	WMT	Walmart	Pair Corr
0.64	DIS	Walt Disney	Pair Corr

Moving against SHP Etf

0.35	WTID	UBS ETRACS	Pair Corr
0.35	VZ	Verizon Communications	Pair Corr
0.38	TRV	The Travelers Companies	Pair Corr
0.35	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	PRAY	CATH	KCIIX	MINN	KCCIX
PRAY		0.93	-0.05	0.15	-0.25	PRAY
CATH	0.93		-0.27	0.01	-0.44	CATH
KCIIX	-0.05	-0.27		0.69	0.86	KCIIX
MINN	0.15	0.01	0.69		0.8	MINN
KCCIX	-0.25	-0.44	0.86	0.8		KCCIX
	PRAY	CATH	KCIIX	MINN	KCCIX

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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

CATH	+ 0.93	PRAY
KCCIX	+ 0.86	KCIIX
KCCIX	+ 0.8	MINN
MINN	+ 0.69	KCIIX
MINN	+ 0.15	PRAY
MINN	+ 0.01	CATH

High negative correlations

KCCIX	- 0.44	CATH
KCIIX	- 0.27	CATH
KCCIX	- 0.25	PRAY
KCIIX	- 0.05	PRAY

SHP ETF Constituents Risk-Adjusted Indicators

There is a big difference between SHP Etf performing well and SHP ETF 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 SHP ETF'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
PRAY	0.75	(0.02)	0.00	(0.10)	0.00	0.00	1.32	(1.54)	3.96
CATH	0.83	(0.05)	0.00	(0.14)	0.00	0.00	1.35	(1.79)	4.83
KCIIX	0.60	0.14	0.19	0.19	0.69	(0.66)	1.43	(1.13)	4.84
MINN	0.25	(0.02)	0.00	(0.32)	0.00	0.00	0.50	(0.49)	1.42
KCCIX	0.24	0.01	0.27	0.23	0.23	(0.28)	0.47	(0.46)	1.28

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