Roundhill Magnificent Correlations

MAGS Etf

USD 47.94 1.52 3.07%

The current 90-days correlation between Roundhill Magnificent and Strategy Shares is 0.49 (i.e., Very weak diversification). The correlation of Roundhill Magnificent 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.

Roundhill Magnificent Correlation With Market

Poor diversification

The correlation between Roundhill Magnificent Seven and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Magnificent Seven 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 Roundhill Magnificent Seven. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Roundhill Etf

0.97	VGT	Vanguard Information	Pair Corr
0.95	XLK	Technology Select Sector	Pair Corr
0.96	IYW	iShares Technology ETF	Pair Corr
0.88	SMH	VanEck Semiconductor ETF	Pair Corr
0.88	SOXX	iShares Semiconductor ETF	Pair Corr
0.97	FTEC	Fidelity MSCI Information	Pair Corr
0.9	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.83	FDN	First Trust Dow	Pair Corr
0.94	IGM	iShares Expanded Tech	Pair Corr
0.89	VTI	Vanguard Total Stock	Pair Corr
0.89	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.95	VBK	Vanguard Small Cap	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.89	AXP	American Express	Pair Corr
0.8	BAC	Bank of America Aggressive Push	Pair Corr
0.61	BA	Boeing	Pair Corr
0.86	HPQ	HP Inc	Pair Corr

Moving against Roundhill Etf

0.9	FNGD	MicroSectors FANG Index Buyout Trend	Pair Corr
0.85	JPST	JPMorgan Ultra Short Sell-off Trend	Pair Corr
0.69	GDXU	MicroSectors Gold Miners	Pair Corr
0.64	EEM	iShares MSCI Emerging	Pair Corr
0.85	TRV	The Travelers Companies	Pair Corr
0.85	VZ	Verizon Communications	Pair Corr
0.83	JNJ	Johnson Johnson	Pair Corr
0.76	T	ATT Inc Aggressive Push	Pair Corr
0.67	MCD	McDonalds	Pair Corr
0.62	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.58	CVX	Chevron Corp	Pair Corr
0.46	PG	Procter Gamble	Pair Corr
0.46	MMM	3M Company	Pair Corr
0.43	INTC	Intel	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.13	-0.04	-0.03	0.05	-0.02	-0.06	-0.01	-0.03	DHSB
MBOX	-0.13		0.26	0.12	-0.31	0.33	0.83	0.3	0.73	MBOX
DIEM	-0.04	0.26		0.87	0.15	-0.41	0.51	0.78	0.64	DIEM
MCHI	-0.03	0.12	0.87		0.48	-0.55	0.45	0.92	0.6	MCHI
DIPS	0.05	-0.31	0.15	0.48		-0.54	-0.03	0.54	0.09	DIPS
DISO	-0.02	0.33	-0.41	-0.55	-0.54		0.26	-0.52	0.04	DISO
DIVB	-0.06	0.83	0.51	0.45	-0.03	0.26		0.62	0.95	DIVB
DIVD	-0.01	0.3	0.78	0.92	0.54	-0.52	0.62		0.75	DIVD
DIVG	-0.03	0.73	0.64	0.6	0.09	0.04	0.95	0.75		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DIVG	+ 0.95	DIVB
DIVD	+ 0.92	MCHI
MCHI	+ 0.87	DIEM
DIVB	+ 0.83	MBOX
DIVD	+ 0.78	DIEM
DIVG	+ 0.75	DIVD

High negative correlations

DISO	- 0.55	MCHI
DISO	- 0.54	DIPS
DIVD	- 0.52	DISO
DISO	- 0.41	DIEM
DIPS	- 0.31	MBOX
MBOX	- 0.13	DHSB

Roundhill Magnificent Constituents Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill Magnificent 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 Roundhill Magnificent'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
DHSB	0.37	(0.07)	0.00	(0.37)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.65	0.04	0.04	0.04	0.76	(0.65)	1.27	(1.39)	2.74
DIEM	0.69	0.03	0.03	(0.23)	0.88	(0.73)	1.43	(1.89)	4.39
MCHI	1.36	0.24	0.15	1.74	1.44	(1.60)	2.63	(2.72)	7.91
DIPS	2.25	0.09	0.03	0.21	2.68	(2.50)	5.35	(4.43)	23.78
DISO	0.90	(0.13)	0.00	0.71	0.00	0.00	1.47	(2.12)	6.61
DIVB	0.66	0.02	0.02	(0.11)	0.87	(0.66)	1.16	(1.40)	3.13
DIVD	0.58	0.13	0.17	(0.64)	0.62	(0.67)	1.39	(0.95)	3.39
DIVG	0.60	0.02	0.02	(0.12)	0.76	(0.63)	1.20	(1.18)	3.06

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC