Texas Capital Correlations

MMKT Etf

100.19 0.06 0.06%

The current 90-days correlation between Texas Capital Funds and Vanguard 0 3 Month is 0.18 (i.e., Average diversification). The correlation of Texas Capital 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.

Texas Capital Correlation With Market

Average diversification

The correlation between Texas Capital Funds and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Texas Capital Funds 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 Texas Capital Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Texas Etf

0.88	FXY	Invesco CurrencyShares	Pair Corr
0.85	PMBS	PIMCO Mortgage Backed	Pair Corr
0.71	AMPD	Tidal Trust II	Pair Corr
0.89	VXUS	Vanguard Total Inter	Pair Corr
0.79	LQDB	iShares BBB Rated	Pair Corr
0.88	SPIB	SPDR Barclays Interm	Pair Corr
0.63	JGH	Nuveen Global High	Pair Corr
0.9	KBUF	KraneShares Trust	Pair Corr
0.71	BBEM	JP Morgan Exchange	Pair Corr
0.87	MYCJ	SPDR SSGA My2030	Pair Corr
0.93	IMAY	Innovator ETFs Trust	Pair Corr
0.71	LFAO	Stone Ridge 2055	Pair Corr
0.85	BKT	BlackRock Income Closed	Pair Corr
0.95	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.61	TAIL	Cambria Tail Risk	Pair Corr
0.91	GDXJ	VanEck Junior Gold	Pair Corr
0.82	AMJB	JPMorgan Chase Financial	Pair Corr
0.7	VNM	VanEck Vietnam ETF	Pair Corr
0.85	FT	Franklin Universal Closed	Pair Corr
0.74	LIAE	Stone Ridge 2050	Pair Corr
0.98	EUSC	WisdomTree Europe Hedged	Pair Corr
0.65	IHF	iShares Healthcare	Pair Corr
0.85	FLGV	Franklin Liberty Treasury	Pair Corr
0.88	ACWV	iShares MSCI Global	Pair Corr
0.97	FTSD	Franklin Liberty Short	Pair Corr
0.95	CLOA	BlackRock AAA CLO	Pair Corr
0.72	BNGE	First Trust S	Pair Corr
0.66	DFGP	Dimensional Global Core	Pair Corr
0.77	DINT	Davis Select Interna	Pair Corr
0.89	GDXU	MicroSectors Gold Miners	Pair Corr
0.9	HSRT	Hartford Short Duration	Pair Corr
0.89	GHMS	Goose Hollow Multi	Pair Corr
0.81	SPHD	Invesco SP 500	Pair Corr
0.75	DWLD	Davis Select Worldwide	Pair Corr
0.9	CGRO	Tidal Trust II	Pair Corr
0.99	JMST	JPMorgan Ultra Short	Pair Corr

Moving against Texas Etf

0.88

WGMI

Valkyrie Bitcoin Miners

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Texas Capital Competition Risk-Adjusted Indicators

There is a big difference between Texas Etf performing well and Texas Capital 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 Texas Capital'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	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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