Bank Of Montreal Correlations

NRGD Etf

USD 165.76 0.00 0.00%

The current 90-days correlation between Bank Of Montreal and Bank Of Montreal is -0.99 (i.e., Pay attention - limited upside). The correlation of Bank Of Montreal 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.

Bank Of Montreal Correlation With Market

Significant diversification

The correlation between Bank Of Montreal and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank Of Montreal 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 price.

Moving together with Bank Etf

0.64	VTI	Vanguard Total Stock	Pair Corr
0.62	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.62	IVV	iShares Core SP	Pair Corr
0.7	VUG	Vanguard Growth Index	Pair Corr
0.81	WMT	Walmart Aggressive Push	Pair Corr
0.83	DIS	Walt Disney	Pair Corr

Moving against Bank Etf

0.65	QID	ProShares UltraShort QQQ	Pair Corr
0.63	PSQ	ProShares Short QQQ	Pair Corr
0.57	SPXU	ProShares UltraPro Short	Pair Corr
0.57	SPXS	Direxion Daily SP	Pair Corr
0.54	SDS	ProShares UltraShort	Pair Corr
0.53	TAIL	Cambria Tail Risk	Pair Corr
0.48	SH	ProShares Short SP500	Pair Corr
0.47	SPDN	Direxion Daily SP	Pair Corr
0.43	VWO	Vanguard FTSE Emerging	Pair Corr
0.37	RWM	ProShares Short Russ Potential Growth	Pair Corr
0.37	VEA	Vanguard FTSE Developed	Pair Corr
0.31	DOG	ProShares Short Dow30	Pair Corr
0.75	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.69	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.46	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.46	GE	GE Aerospace Buyout Trend	Pair Corr
0.44	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.35	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.34	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.31	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	NRGU	FNGD	BNKD	BNKU	KOLD
NRGU		0.74	0.15	-0.04	0.54	NRGU
FNGD	0.74		0.44	-0.33	0.76	FNGD
BNKD	0.15	0.44		-0.99	0.65	BNKD
BNKU	-0.04	-0.33	-0.99		-0.57	BNKU
KOLD	0.54	0.76	0.65	-0.57		KOLD
	NRGU	FNGD	BNKD	BNKU	KOLD

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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

KOLD	+ 0.76	FNGD
FNGD	+ 0.74	NRGU
KOLD	+ 0.65	BNKD
KOLD	+ 0.54	NRGU
BNKD	+ 0.44	FNGD
BNKD	+ 0.15	NRGU

High negative correlations

BNKU	- 0.99	BNKD
KOLD	- 0.57	BNKU
BNKU	- 0.33	FNGD
BNKU	- 0.04	NRGU

Bank Of Montreal Constituents Risk-Adjusted Indicators

There is a big difference between Bank Etf performing well and Bank Of Montreal 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 Bank Of Montreal'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
NRGU	2.16	(0.34)	0.00	1.61	0.00	0.00	5.43	(5.68)	16.23
FNGD	3.37	(0.77)	0.00	(3.20)	0.00	0.00	6.34	(7.81)	20.93
BNKD	2.28	(0.31)	0.00	(11.36)	0.00	0.00	4.34	(4.98)	10.90
BNKU	2.19	0.29	0.09	(37.88)	2.49	(2.30)	4.63	(4.03)	11.11
KOLD	5.85	(1.10)	0.00	(0.49)	0.00	0.00	13.05	(12.30)	35.66

Bank Of Montreal 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 Bank Of Montreal etf to make a market-neutral strategy. Peer analysis of Bank Of Montreal could also be used in its relative valuation, which is a method of valuing Bank Of Montreal by comparing valuation metrics with similar companies.

Bank Of Montreal MicroSectors FANG Index Bank Of Montreal Bank Of Montreal ProShares UltraShort Bloomberg American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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