Impact Shares Correlations

NACP Etf

USD 40.26 0.87 2.21%

The current 90-days correlation between Impact Shares NAACP and Impact Shares YWCA is 0.89 (i.e., Very poor diversification). The correlation of Impact Shares 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Impact Shares Correlation With Market

Poor diversification

The correlation between Impact Shares NAACP and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Impact Shares NAACP 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 Impact Shares NAACP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Impact Etf

0.93	VTI	Vanguard Total Stock	Pair Corr
0.94	SPY	SPDR SP 500	Pair Corr
0.94	IVV	iShares Core SP	Pair Corr
0.91	VIG	Vanguard Dividend	Pair Corr
0.95	VV	Vanguard Large Cap	Pair Corr
0.88	RSP	Invesco SP 500	Pair Corr
0.94	IWB	iShares Russell 1000	Pair Corr
0.91	ESGU	iShares ESG Aware	Pair Corr
0.9	DFAC	Dimensional Core Equity	Pair Corr
0.94	SPLG	SPDR Portfolio SP	Pair Corr
0.88	UPRO	ProShares UltraPro SP500	Pair Corr
0.91	QTJA	Innovator ETFs Trust	Pair Corr
0.93	QTOC	Innovator ETFs Trust	Pair Corr
0.96	XTOC	Innovator ETFs Trust	Pair Corr
0.9	QTAP	Innovator Growth 100	Pair Corr
0.91	XTJA	Innovator ETFs Trust	Pair Corr
0.84	XTAP	Innovator Equity Acc	Pair Corr
0.82	WMT	Walmart	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.81	AXP	American Express	Pair Corr
0.66	BA	Boeing	Pair Corr
0.62	HPQ	HP Inc	Pair Corr

Moving against Impact Etf

0.42

MRK

Merck Company Sell-off Trend

Pair Corr

Related Correlations Analysis

	WOMN	SHE	KRMA	MFUS	PEXL
WOMN		0.98	0.77	0.98	0.68	WOMN
SHE	0.98		0.82	0.96	0.73	SHE
KRMA	0.77	0.82		0.72	0.96	KRMA
MFUS	0.98	0.96	0.72		0.66	MFUS
PEXL	0.68	0.73	0.96	0.66		PEXL
	WOMN	SHE	KRMA	MFUS	PEXL

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Impact Shares Constituents Risk-Adjusted Indicators

There is a big difference between Impact Etf performing well and Impact Shares 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 Impact Shares' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
WOMN	0.58	(0.02)	(0.17)	1.03	(1.45)	3.41
SHE	0.60	(0.03)	(0.18)	0.96	(1.68)	3.76
KRMA	0.76	(0.03)	(0.18)	1.41	(1.82)	3.96
MFUS	0.62	0.00	(0.14)	1.14	(1.38)	3.09
PEXL	0.86	(0.05)	(0.20)	1.44	(2.50)	4.28

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