ETRACS Monthly Correlations

MVRL Etf

USD 16.89 0.20 1.17%

The current 90-days correlation between ETRACS Monthly Pay and ETRACS 2xMonthly Pay is 0.75 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ETRACS Monthly moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ETRACS Monthly Pay moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ETRACS Monthly Correlation With Market

Very weak diversification

The correlation between ETRACS Monthly Pay 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 ETRACS Monthly Pay 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 ETRACS Monthly Pay. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with ETRACS Etf

0.84	GDXU	MicroSectors Gold Miners	Pair Corr
0.63	PG	Procter Gamble	Pair Corr
0.93	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr
0.89	JNJ	Johnson Johnson	Pair Corr
0.66	TRV	The Travelers Companies	Pair Corr
0.89	IBM	International Business	Pair Corr
0.81	GE	GE Aerospace	Pair Corr
0.63	XOM	Exxon Mobil Corp	Pair Corr
0.68	INTC	Intel	Pair Corr
0.81	MCD	McDonalds	Pair Corr
0.87	KO	Coca Cola	Pair Corr

Moving against ETRACS Etf

0.51	WTMF	WisdomTree Managed	Pair Corr
0.48	TECL	Direxion Daily Technology	Pair Corr
0.46	LABU	Direxion Daily SP	Pair Corr
0.37	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.33	GUSH	Direxion Daily SP	Pair Corr
0.33	OIH	VanEck Oil Services	Pair Corr
0.32	QLD	ProShares Ultra QQQ	Pair Corr
0.74	MRK	Merck Company	Pair Corr
0.69	MSFT	Microsoft	Pair Corr
0.58	AA	Alcoa Corp	Pair Corr
0.56	CAT	Caterpillar	Pair Corr
0.32	DIS	Walt Disney	Pair Corr
0.31	AXP	American Express	Pair Corr

Related Correlations Analysis

	SMHB	CEFD	HDLB	PFFL	BDCX
SMHB		0.73	0.53	0.54	0.72	SMHB
CEFD	0.73		0.22	0.48	0.86	CEFD
HDLB	0.53	0.22		0.12	0.42	HDLB
PFFL	0.54	0.48	0.12		0.38	PFFL
BDCX	0.72	0.86	0.42	0.38		BDCX
	SMHB	CEFD	HDLB	PFFL	BDCX

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ETRACS Monthly Constituents Risk-Adjusted Indicators

There is a big difference between ETRACS Etf performing well and ETRACS Monthly 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 ETRACS Monthly'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
SMHB	1.92	0.03	0.00	(0.04)	0.00	0.00	3.84	(4.67)	12.85
CEFD	0.75	0.01	0.00	(0.06)	0.00	0.00	1.43	(1.77)	4.34
HDLB	1.43	0.20	0.10	0.17	1.92	(1.43)	3.03	(3.05)	9.99
PFFL	1.05	(0.02)	0.00	(0.10)	0.00	0.00	2.36	(2.59)	8.42
BDCX	1.21	0.10	0.05	0.04	1.74	(1.25)	2.75	(2.44)	9.39

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