Bank of Montreal Correlations
| NRGU Etf | USD 23.57 0.69 2.84% |
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. If the correlation is 0, the equities are not correlated; they are entirely random.
Bank of Montreal Correlation With Market
Modest diversification
The correlation between Bank of Montreal and DJI is 0.2 (i.e., Modest 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.
Bank |
Moving together with Bank Etf
| 0.61 | SSO | ProShares Ultra SP500 | PairCorr |
| 0.61 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.62 | QLD | ProShares Ultra QQQ | PairCorr |
| 0.61 | UPRO | ProShares UltraPro SP500 | PairCorr |
| 0.65 | TECL | Direxion Daily Technology | PairCorr |
| 0.68 | GUSH | Direxion Daily SP | PairCorr |
| 0.68 | OIH | VanEck Oil Services | PairCorr |
| 0.65 | WTMF | WisdomTree Managed | PairCorr |
| 0.61 | BST | BlackRock Science Tech | PairCorr |
| 0.69 | AA | Alcoa Corp | PairCorr |
| 0.64 | BAC | Bank of America | PairCorr |
Moving against Bank Etf
| 0.51 | PG | Procter Gamble | PairCorr |
| 0.56 | TRV | The Travelers Companies | PairCorr |
| 0.54 | JNJ | Johnson Johnson | PairCorr |
| 0.47 | KO | Coca Cola | PairCorr |
| 0.43 | MCD | McDonalds | PairCorr |
| 0.41 | T | ATT Inc Earnings Call Tomorrow | PairCorr |
Related Correlations Analysis
| -0.32 | -0.57 | -0.66 | -0.59 | NRGD | ||
| -0.32 | 0.24 | 0.09 | 0.16 | BNKU | ||
| -0.57 | 0.24 | 0.88 | 0.8 | FNGU | ||
| -0.66 | 0.09 | 0.88 | 0.87 | BULZ | ||
| -0.59 | 0.16 | 0.8 | 0.87 | DPST | ||
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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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NRGD | 3.98 | 0.25 | 0.09 | (0.38) | 4.01 | 7.83 | 21.22 | |||
| BNKU | 4.12 | (1.17) | 0.00 | (0.59) | 0.00 | 6.15 | 20.31 | |||
| FNGU | 4.42 | (0.39) | 0.00 | (0.47) | 0.00 | 8.29 | 23.98 | |||
| BULZ | 4.63 | (0.29) | 0.00 | (0.15) | 0.00 | 8.97 | 25.00 | |||
| DPST | 3.54 | (0.31) | 0.00 | (0.16) | 0.00 | 5.69 | 21.75 |