Virtus Newfleet Correlations

NFLT Etf

USD 22.54 0.04 0.18%

The correlation of Virtus Newfleet 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.

Virtus Newfleet Correlation With Market

Average diversification

The correlation between Virtus Newfleet Multi Sector and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus Newfleet Multi Sector 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 Virtus Newfleet Multi Sector. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Virtus Etf

0.91	AXSAX	Axonic Strategic Income	Pair Corr
0.87	AXSIX	Axonic Strategic Income	Pair Corr
0.97	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.93	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.95	DEED	First Trust TCW	Pair Corr
0.93	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.93	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.94	JPIE	JP Morgan Exchange	Pair Corr
0.88	AFIF	Anfield Universal Fixed	Pair Corr
0.96	MUSI	American Century Mul	Pair Corr
0.71	MLPR	ETRACS Quarterly Pay	Pair Corr
0.63	AMZA	InfraCap MLP ETF	Pair Corr
0.73	GDXU	MicroSectors Gold Miners	Pair Corr
0.76	IBM	International Business	Pair Corr
0.91	JNJ	Johnson Johnson	Pair Corr
0.76	MCD	McDonalds	Pair Corr
0.67	PG	Procter Gamble	Pair Corr
0.91	T	ATT Inc Aggressive Push	Pair Corr
0.77	MMM	3M Company	Pair Corr
0.75	GE	GE Aerospace	Pair Corr
0.85	VZ	Verizon Communications Sell-off Trend	Pair Corr

Moving against Virtus Etf

0.73	USD	ProShares Ultra Semi	Pair Corr
0.58	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.52	FNGO	MicroSectors FANG Index	Pair Corr
0.42	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.7	MSFT	Microsoft Aggressive Push	Pair Corr
0.54	CAT	Caterpillar	Pair Corr
0.39	AXP	American Express	Pair Corr
0.32	HD	Home Depot	Pair Corr

Related Correlations Analysis

	MINC	BLHY	NUAG	PFIG	PGHY
MINC		0.0	0.0	0.0	0.0	MINC
BLHY	0.0		0.0	0.0	0.0	BLHY
NUAG	0.0	0.0		0.98	0.87	NUAG
PFIG	0.0	0.0	0.98		0.9	PFIG
PGHY	0.0	0.0	0.87	0.9		PGHY
	MINC	BLHY	NUAG	PFIG	PGHY

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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

PFIG	+ 0.98	NUAG
PGHY	+ 0.9	PFIG
PGHY	+ 0.87	NUAG
BLHY	+ 0.0	MINC
NUAG	+ 0.0	MINC
PFIG	+ 0.0	MINC

High negative correlations

PGHY	- 0.0	BLHY
PFIG	- 0.0	BLHY
NUAG	- 0.0	BLHY
PGHY	- 0.0	MINC
PFIG	- 0.0	MINC
NUAG	- 0.0	MINC

Virtus Newfleet Constituents Risk-Adjusted Indicators

There is a big difference between Virtus Etf performing well and Virtus Newfleet 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 Virtus Newfleet'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
MINC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BLHY	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NUAG	0.24	0.00	0.00	0.11	0.25	(0.28)	0.49	(0.39)	1.37
PFIG	0.19	0.01	0.04	0.62	0.14	(0.21)	0.43	(0.30)	1.21
PGHY	0.31	0.02	0.04	(0.21)	0.32	(0.34)	0.72	(0.61)	1.84

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