VanEck Long Correlations

MLN Etf

USD 17.52 0.03 0.17%

The current 90-days correlation between VanEck Long Muni and VanEck Intermediate Muni is 0.77 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VanEck Long moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VanEck Long Muni moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VanEck Long Correlation With Market

Good diversification

The correlation between VanEck Long Muni and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Long Muni 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 VanEck Long Muni. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with VanEck Etf

0.8	TFI	SPDR Nuveen Bloomberg	Pair Corr
0.96	PZA	Invesco National AMT	Pair Corr
0.81	MMIN	IQ MacKay Municipal	Pair Corr
0.83	RVNU	Xtrackers Municipal	Pair Corr
0.86	FLMB	Franklin Liberty Federal	Pair Corr
0.81	SMI	VanEck Vectors ETF	Pair Corr
0.62	RTAI	Rareview Tax Advantaged	Pair Corr

Related Correlations Analysis

	ITM	SMB	PZA	TFI	PZT
ITM		0.77	0.76	0.9	0.69	ITM
SMB	0.77		0.34	0.7	0.39	SMB
PZA	0.76	0.34		0.8	0.92	PZA
TFI	0.9	0.7	0.8		0.77	TFI
PZT	0.69	0.39	0.92	0.77		PZT
	ITM	SMB	PZA	TFI	PZT

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VanEck Long Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Long 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 VanEck Long'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
ITM	0.21	(0.03)	0.00	0.41	0.00	0.00	0.42	(0.39)	0.98
SMB	0.09	(0.01)	0.41	0.17	0.10	(0.10)	0.18	(0.18)	0.70
PZA	0.29	(0.05)	0.00	2.28	0.00	0.00	0.56	(0.60)	1.54
TFI	0.20	(0.02)	0.00	(0.47)	0.00	0.00	0.35	(0.44)	1.10
PZT	0.42	(0.06)	0.00	1.21	0.00	0.00	0.75	(0.93)	2.41

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VanEck Long Correlations

VanEck Long Correlation With Market

Good diversification

Moving together with VanEck Etf

Related Correlations Analysis

VanEck Long Constituents Risk-Adjusted Indicators

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