OShares Europe Correlations

Etfs . USA . 
Etf . OShares Europe Quality
OEUR Etf  USD 30.72  0.28  0.90%   
The current 90-days correlation between OShares Europe Quality and OShares Small Cap Quality is -0.14 (i.e., Good diversification). The correlation of OShares Europe 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.

OShares Europe Correlation With Market

Very good diversification

The correlation between OShares Europe Quality and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OShares Europe Quality and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OShares Europe Quality. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with OShares Etf

  0.98VGK Vanguard FTSE Europe Sell-off TrendPairCorr
  0.97EZU iShares MSCI Eurozone Sell-off TrendPairCorr
  1.0BBEU JPMorgan BetaBuildersPairCorr
  0.98IEUR iShares Core MSCIPairCorr
  0.97FEZ SPDR EURO STOXXPairCorr
  0.98IEV iShares Europe ETFPairCorr
  0.96HEDJ WisdomTree Europe HedgedPairCorr
  0.95DBEU Xtrackers MSCI EuropePairCorr
  0.93HEZU iShares Currency HedgedPairCorr
  0.97FEP First Trust EuropePairCorr
  0.95IGA Voya Global AdvantagePairCorr
  0.87GDXU MicroSectors Gold MinersPairCorr
  0.67CVX Chevron CorpPairCorr
  0.64CSCO Cisco SystemsPairCorr
  0.77GE GE AerospacePairCorr
  0.92VZ Verizon CommunicationsPairCorr
  0.78MMM 3M CompanyPairCorr
  0.94JNJ Johnson Johnson Sell-off TrendPairCorr
  0.62INTC Intel Sell-off TrendPairCorr
  0.62XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.94T ATT Inc Sell-off TrendPairCorr
  0.79IBM International BusinessPairCorr
  0.65PG Procter GamblePairCorr
  0.9KO Coca ColaPairCorr

Moving against OShares Etf

  0.78MAGS Roundhill MagnificentPairCorr
  0.7SEMI Columbia SeligmanPairCorr
  0.34PXMV Invesco SP MidCapPairCorr
  0.6CAT CaterpillarPairCorr
  0.58HPQ HP IncPairCorr
  0.57MRK Merck CompanyPairCorr

Related Correlations Analysis

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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   
JOET
+ 0.88
OGIG
JOET
+ 0.8
OUSM
OGIG
+ 0.79
OUSA
JOET
+ 0.66
OUSA
OGIG
+ 0.57
OUSM
OUSA
+ 0.49
OUSM
  
High negative correlations   
EUDG
- 0.5
OUSM
JOET
- 0.24
EUDG

OShares Europe Constituents Risk-Adjusted Indicators

There is a big difference between OShares Etf performing well and OShares Europe 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 OShares Europe'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.

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