Freedom Day Correlations

MBOX Etf

USD 33.15 0.03 0.09%

The correlation of Freedom Day 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.

Freedom Day Correlation With Market

Poor diversification

The correlation between Freedom Day Dividend and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Freedom Day Dividend 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 Freedom Day Dividend. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Freedom Etf

0.97	VTV	Vanguard Value Index	Pair Corr
0.98	VYM	Vanguard High Dividend	Pair Corr
0.98	IWD	iShares Russell 1000	Pair Corr
0.96	DGRO	iShares Core Dividend	Pair Corr
0.92	IVE	iShares SP 500	Pair Corr
0.88	DVY	iShares Select Dividend	Pair Corr
0.92	SPYV	SPDR Portfolio SP	Pair Corr
0.65	FVD	First Trust Value	Pair Corr
0.92	IUSV	iShares Core SP	Pair Corr
0.65	NOBL	ProShares SP 500	Pair Corr
0.89	JPM	JPMorgan Chase	Pair Corr
0.61	BAC	Bank of America Sell-off Trend	Pair Corr
0.68	GE	GE Aerospace	Pair Corr
0.75	WMT	Walmart Aggressive Push	Pair Corr

Moving against Freedom Etf

0.61

MRK

Merck Company

Pair Corr

Related Correlations Analysis

	NFNT	SALN	MBCC	NETO	LCG
NFNT		0.0	0.0	0.0	0.0	NFNT
SALN	0.0		0.0	0.0	0.0	SALN
MBCC	0.0	0.0		0.0	0.93	MBCC
NETO	0.0	0.0	0.0		0.0	NETO
LCG	0.0	0.0	0.93	0.0		LCG
	NFNT	SALN	MBCC	NETO	LCG

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

LCG	+ 0.93	MBCC
SALN	+ 0.0	NFNT
MBCC	+ 0.0	NFNT
NETO	+ 0.0	NFNT
LCG	+ 0.0	NFNT
MBCC	+ 0.0	SALN

High negative correlations

LCG	- 0.0	NETO
NETO	- 0.0	MBCC
LCG	- 0.0	SALN
NETO	- 0.0	SALN
MBCC	- 0.0	SALN
LCG	- 0.0	NFNT

Freedom Day Constituents Risk-Adjusted Indicators

There is a big difference between Freedom Etf performing well and Freedom Day 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 Freedom Day'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
NFNT	0.00	0.00	0.00	0.00	0.00	0.00
SALN	0.00	0.00	0.00	0.00	0.00	0.00
MBCC	0.76	(0.02)	(0.09)	1.34	(2.25)	4.26
NETO	0.00	0.00	0.00	0.00	0.00	0.00
LCG	1.09	(0.06)	(0.13)	1.76	(2.73)	6.19

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