VictoryShares WestEnd Correlations

MODL Etf

USD 39.45 0.42 1.05%

The current 90-days correlation between VictoryShares WestEnd and First Trust California is 0.12 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VictoryShares WestEnd moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VictoryShares WestEnd Sector moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

VictoryShares WestEnd Correlation With Market

Very poor diversification

The correlation between VictoryShares WestEnd Sector and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VictoryShares WestEnd Sector 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 VictoryShares WestEnd Sector. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with VictoryShares Etf

0.97	VTI	Vanguard Total Stock	Pair Corr
0.98	SPY	SPDR SP 500	Pair Corr
0.92	IVV	iShares Core SP	Pair Corr
0.92	VIG	Vanguard Dividend	Pair Corr
0.98	VV	Vanguard Large Cap	Pair Corr
0.93	RSP	Invesco SP 500 Sell-off Trend	Pair Corr
0.98	IWB	iShares Russell 1000	Pair Corr
0.96	ESGU	iShares ESG Aware	Pair Corr
0.97	DFAC	Dimensional Core Equity	Pair Corr
0.98	SPLG	SPDR Portfolio SP	Pair Corr
0.9	UPRO	ProShares UltraPro SP500	Pair Corr
0.95	QTJA	Innovator ETFs Trust Low Volatility	Pair Corr
0.96	QTOC	Innovator ETFs Trust	Pair Corr
0.98	XTOC	Innovator ETFs Trust	Pair Corr
0.72	QTAP	Innovator Growth 100 Low Volatility	Pair Corr
0.97	XTJA	Innovator ETFs Trust	Pair Corr
0.87	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.88	HD	Home Depot	Pair Corr
0.9	AXP	American Express	Pair Corr
0.8	DIS	Walt Disney	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr

Moving against VictoryShares Etf

0.44	VZ	Verizon Communications	Pair Corr
0.36	JNJ	Johnson Johnson	Pair Corr
0.34	KO	Coca Cola Aggressive Push	Pair Corr
0.33	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.33	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	FCAL	VSMV	QQXT	UITB	VSDA
FCAL		0.38	0.49	0.65	0.54	FCAL
VSMV	0.38		0.92	0.03	0.81	VSMV
QQXT	0.49	0.92		0.21	0.77	QQXT
UITB	0.65	0.03	0.21		0.46	UITB
VSDA	0.54	0.81	0.77	0.46		VSDA
	FCAL	VSMV	QQXT	UITB	VSDA

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VictoryShares WestEnd Constituents Risk-Adjusted Indicators

There is a big difference between VictoryShares Etf performing well and VictoryShares WestEnd 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 VictoryShares WestEnd'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
FCAL	0.23	(0.03)	0.00	(1.08)	0.00	0.00	0.45	(0.51)	1.46
VSMV	0.50	0.00	0.00	0.00	0.64	(0.50)	0.94	(1.11)	2.14
QQXT	0.60	0.02	0.03	0.03	0.73	(0.59)	1.29	(1.36)	2.84
UITB	0.24	0.02	0.09	4.46	0.17	(0.26)	0.52	(0.36)	1.10
VSDA	0.64	0.02	0.02	0.02	0.81	(0.63)	1.27	(1.44)	3.89

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