Relative Sentiment Correlations

MOOD Etf

USD 31.09 0.17 0.54%

The current 90-days correlation between Relative Sentiment and ETF Series Solutions is -0.08 (i.e., Good diversification). The correlation of Relative Sentiment 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.

Relative Sentiment Correlation With Market

Good diversification

The correlation between Relative Sentiment Tactical and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Relative Sentiment Tactical 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 Relative Sentiment Tactical. 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 Relative Etf

0.63	TDSB	Cabana Target Drawdown	Pair Corr
0.7	GDXU	MicroSectors Gold Miners	Pair Corr
0.62	IBM	International Business	Pair Corr
0.63	T	ATT Inc Aggressive Push	Pair Corr

Moving against Relative Etf

0.36	PFE	Pfizer Inc	Pair Corr
0.62	MRK	Merck Company	Pair Corr
0.4	MSFT	Microsoft	Pair Corr
0.35	CAT	Caterpillar	Pair Corr
0.34	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	MSMR	GDMA	MPRO	MSTB	JOJO
MSMR		0.44	0.39	0.91	-0.35	MSMR
GDMA	0.44		0.79	0.36	0.46	GDMA
MPRO	0.39	0.79		0.44	0.62	MPRO
MSTB	0.91	0.36	0.44		-0.34	MSTB
JOJO	-0.35	0.46	0.62	-0.34		JOJO
	MSMR	GDMA	MPRO	MSTB	JOJO

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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

MSTB	+ 0.91	MSMR
MPRO	+ 0.79	GDMA
JOJO	+ 0.62	MPRO
JOJO	+ 0.46	GDMA
GDMA	+ 0.44	MSMR
MSTB	+ 0.44	MPRO

High negative correlations

JOJO	- 0.35	MSMR
JOJO	- 0.34	MSTB

Relative Sentiment Constituents Risk-Adjusted Indicators

There is a big difference between Relative Etf performing well and Relative Sentiment 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 Relative Sentiment'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
MSMR	0.42	(0.01)	(0.01)	(0.03)	0.61	(0.39)	1.04	(0.89)	3.18
GDMA	0.36	0.01	0.03	0.04	0.45	(0.37)	0.82	(0.82)	2.10
MPRO	0.36	0.01	0.03	0.02	0.39	(0.42)	0.74	(0.75)	1.83
MSTB	0.68	(0.06)	0.00	(0.07)	0.00	0.00	1.18	(1.36)	3.62
JOJO	0.44	0.02	0.04	0.08	0.56	(0.45)	1.14	(1.04)	3.51

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