Roundhill Video Correlations

NERD Etf

USD 21.65 0.14 0.65%

The current 90-days correlation between Roundhill Video Games and VanEck Video Gaming is 0.89 (i.e., Very poor diversification). The correlation of Roundhill Video 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.

Roundhill Video Correlation With Market

Good diversification

The correlation between Roundhill Video Games and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Video Games 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 Roundhill Video Games. 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 Roundhill Etf

0.78	XLC	Communication Services	Pair Corr
0.82	IYZ	IShares Telecommunicatio	Pair Corr
0.98	ESPO	VanEck Video Gaming	Pair Corr
0.85	IXP	iShares Global Comm	Pair Corr
0.91	HERO	Global X Video	Pair Corr
0.93	SOCL	Global X Social	Pair Corr
0.98	GAMR	Amplify ETF Trust	Pair Corr
0.69	LUX	Tema ETF Trust	Pair Corr
0.63	SMI	VanEck Vectors ETF	Pair Corr
0.62	GDXU	MicroSectors Gold Miners	Pair Corr
0.63	GE	GE Aerospace	Pair Corr
0.64	CSCO	Cisco Systems	Pair Corr

Moving against Roundhill Etf

0.85	MRK	Merck Company	Pair Corr
0.37	CAT	Caterpillar	Pair Corr
0.35	PFE	Pfizer Inc	Pair Corr

Related Correlations Analysis

	ESPO	BETZ	GAMR	HERO	BJK
ESPO		0.88	0.98	0.96	0.63	ESPO
BETZ	0.88		0.92	0.76	0.79	BETZ
GAMR	0.98	0.92		0.89	0.72	GAMR
HERO	0.96	0.76	0.89		0.46	HERO
BJK	0.63	0.79	0.72	0.46		BJK
	ESPO	BETZ	GAMR	HERO	BJK

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Roundhill Video Constituents Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill Video 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 Roundhill Video'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
ESPO	1.11	0.12	0.12	(0.78)	1.19	(1.26)	2.13	(1.87)	6.45
BETZ	1.06	0.09	0.08	(0.63)	1.42	(1.15)	2.42	(2.03)	6.99
GAMR	1.14	0.08	0.09	(0.35)	1.31	(1.30)	2.38	(1.89)	7.55
HERO	0.95	0.12	0.17	(2.68)	0.85	(1.21)	2.10	(1.22)	6.04
BJK	1.00	(0.05)	0.00	0.20	0.00	0.00	2.23	(1.98)	6.76

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