Guinness Atkinson Correlations

MRAD Etf

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The current 90-days correlation between Guinness Atkinson Asset and Global X Thematic is 0.2 (i.e., Modest diversification). The correlation of Guinness Atkinson 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.

Guinness Atkinson Correlation With Market

Good diversification

The correlation between Guinness Atkinson Asset and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Guinness Atkinson Asset and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Guinness Etf

0.66	XLC	Communication Services	Pair Corr
0.66	VOX	Vanguard Communication	Pair Corr
0.67	FCOM	Fidelity MSCI Commun	Pair Corr
0.64	IYZ	IShares Telecommunicatio	Pair Corr
0.71	ESPO	VanEck Video Gaming	Pair Corr
0.72	IXP	iShares Global Comm	Pair Corr
0.72	HERO	Global X Video	Pair Corr
0.76	SOCL	Global X Social	Pair Corr
0.72	GAMR	Amplify ETF Trust	Pair Corr
0.62	JPST	JPMorgan Ultra Short	Pair Corr
0.62	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against Guinness Etf

0.6	FNGD	MicroSectors FANG Index	Pair Corr
0.32	VXX	iPath Series B Low Volatility	Pair Corr
0.75	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.62	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.57	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Related Correlations Analysis

	GXTG	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX	OSHDF	70082LAB3
GXTG		0.0	0.77	0.55	0.24	-0.25	0.11	0.44	0.25	0.4	GXTG
AQUI	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.77	0.0		0.55	0.34	-0.13	0.02	0.73	0.13	0.15	MSTSX
LBHIX	0.55	0.0	0.55		0.66	-0.59	0.51	0.8	0.59	0.4	LBHIX
ABHYX	0.24	0.0	0.34	0.66		-0.34	0.16	0.63	0.34	-0.2	ABHYX
SCAXF	-0.25	0.0	-0.13	-0.59	-0.34		-0.88	-0.47	-1.0	-0.65	SCAXF
VIASP	0.11	0.0	0.02	0.51	0.16	-0.88		0.39	0.88	0.72	VIASP
RRTLX	0.44	0.0	0.73	0.8	0.63	-0.47	0.39		0.47	0.21	RRTLX
OSHDF	0.25	0.0	0.13	0.59	0.34	-1.0	0.88	0.47		0.65	OSHDF
70082LAB3	0.4	0.0	0.15	0.4	-0.2	-0.65	0.72	0.21	0.65		70082LAB3
	GXTG	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX	OSHDF	70082LAB3

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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

OSHDF	+ 0.88	VIASP
RRTLX	+ 0.8	LBHIX
MSTSX	+ 0.77	GXTG
RRTLX	+ 0.73	MSTSX
70082LAB3	+ 0.72	VIASP
ABHYX	+ 0.66	LBHIX

High negative correlations

OSHDF	- 1.0	SCAXF
VIASP	- 0.88	SCAXF
70082LAB3	- 0.65	SCAXF
SCAXF	- 0.59	LBHIX
RRTLX	- 0.47	SCAXF
SCAXF	- 0.34	ABHYX

Guinness Atkinson Constituents Risk-Adjusted Indicators

There is a big difference between Guinness Etf performing well and Guinness Atkinson 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 Guinness Atkinson'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
GXTG	1.07	0.08	0.01	0.39	1.12	(1.21)	1.81	(1.97)	6.27
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.45	(0.01)	(0.09)	0.07	0.43	(0.58)	1.21	(0.84)	2.80
LBHIX	0.10	0.00	(0.35)	0.14	0.00	(0.25)	0.24	(0.24)	0.71
ABHYX	0.18	0.00	0.00	0.11	0.00	0.00	0.34	(0.44)	1.91
SCAXF	0.70	(0.37)	0.00	71.69	0.00	0.00	0.00	0.00	23.47
VIASP	0.74	0.12	0.02	(2.24)	1.08	(0.82)	2.28	(1.20)	7.18
RRTLX	0.22	(0.01)	(0.27)	0.04	0.21	(0.25)	0.48	(0.47)	1.36
OSHDF	39.65	20.09	0.00	69.86	0.00	0.00	0.00	0.00	1,329
70082LAB3	0.66	0.09	(0.01)	(0.58)	0.95	(0.79)	1.75	(0.78)	6.86

Guinness Atkinson Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Guinness Atkinson etf to make a market-neutral strategy. Peer analysis of Guinness Atkinson could also be used in its relative valuation, which is a method of valuing Guinness Atkinson by comparing valuation metrics with similar companies.

Global X Thematic Aquagold International Morningstar Unconstrained Allocation Thrivent High Yield High Yield Municipal Fund Sparta Capital Via Renewables T Rowe Price Oshidori International Holdings US70082LAB36 American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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