SmartETFs Smart Correlations

MOTO Etf

USD 41.23 0.55 1.32%

The current 90-days correlation between SmartETFs Smart Tran and SPDR SP Kensho is 0.82 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as SmartETFs Smart moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if SmartETFs Smart Transportation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

SmartETFs Smart Correlation With Market

Very weak diversification

The correlation between SmartETFs Smart Transportation and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SmartETFs Smart Transportation 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 SmartETFs Smart Transportation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with SmartETFs Etf

0.84	VT	Vanguard Total World Sell-off Trend	Pair Corr
0.84	ACWI	iShares MSCI ACWI Sell-off Trend	Pair Corr
0.89	IOO	iShares Global 100	Pair Corr
0.85	URTH	iShares MSCI World	Pair Corr
0.84	CRBN	iShares MSCI ACWI	Pair Corr
0.86	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.86	SPGM	SPDR Portfolio MSCI	Pair Corr
0.61	HPQ	HP Inc Sell-off Trend	Pair Corr
0.64	AXP	American Express	Pair Corr
0.74	JPM	JPMorgan Chase	Pair Corr

Moving against SmartETFs Etf

0.35	WTID	UBS ETRACS	Pair Corr
0.37	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	HAIL	KARS	IDRV	SIMS	BATT
HAIL		-0.2	-0.1	0.82	0.8	HAIL
KARS	-0.2		0.93	-0.6	0.04	KARS
IDRV	-0.1	0.93		-0.49	0.14	IDRV
SIMS	0.82	-0.6	-0.49		0.67	SIMS
BATT	0.8	0.04	0.14	0.67		BATT
	HAIL	KARS	IDRV	SIMS	BATT

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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

IDRV	+ 0.93	KARS
SIMS	+ 0.82	HAIL
BATT	+ 0.8	HAIL
BATT	+ 0.67	SIMS
BATT	+ 0.14	IDRV
BATT	+ 0.04	KARS

High negative correlations

SIMS	- 0.6	KARS
SIMS	- 0.49	IDRV
KARS	- 0.2	HAIL
IDRV	- 0.1	HAIL

SmartETFs Smart Constituents Risk-Adjusted Indicators

There is a big difference between SmartETFs Etf performing well and SmartETFs Smart 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 SmartETFs Smart'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
HAIL	1.43	(0.07)	0.00	(0.09)	0.00	0.00	2.53	(2.93)	8.28
KARS	1.24	0.04	0.03	0.06	1.40	(1.38)	2.66	(2.15)	6.01
IDRV	1.25	0.05	0.04	0.03	1.42	(1.40)	2.63	(2.40)	7.12
SIMS	0.90	(0.11)	0.00	(0.14)	0.00	0.00	1.62	(2.05)	4.83
BATT	1.25	(0.03)	0.00	(0.06)	0.00	0.00	2.27	(2.23)	7.29

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