OShares Global Correlations

OGIG Etf

USD 45.71 0.27 0.59%

The current 90-days correlation between OShares Global Internet and OShares Quality Dividend is 0.07 (i.e., Significant diversification). The correlation of OShares Global 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.

OShares Global Correlation With Market

Good diversification

The correlation between OShares Global Internet 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 OShares Global Internet 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 Global Internet. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with OShares Etf

0.67	XLK	Technology Select Sector	Pair Corr
0.63	IYW	iShares Technology ETF	Pair Corr
0.85	CIBR	First Trust NASDAQ	Pair Corr
0.75	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.91	FDN	First Trust Dow	Pair Corr
0.73	IGM	iShares Expanded Tech	Pair Corr
0.79	VTI	Vanguard Total Stock	Pair Corr
0.7	VBK	Vanguard Small Cap	Pair Corr
0.76	NFLX	Netflix	Pair Corr
0.72	AXP	American Express	Pair Corr
0.85	JPM	JPMorgan Chase	Pair Corr
0.66	BAC	Bank of America Aggressive Push	Pair Corr
0.91	WMT	Walmart	Pair Corr
0.7	BA	Boeing	Pair Corr
0.63	HPQ	HP Inc	Pair Corr

Moving against OShares Etf

0.76	FNGD	MicroSectors FANG Index Downward Rally	Pair Corr
0.64	MRK	Merck Company	Pair Corr
0.37	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	OUSA	WCLD	IBUY	ONLN	CLOU
OUSA		0.49	0.73	0.75	0.54	OUSA
WCLD	0.49		0.8	0.79	0.99	WCLD
IBUY	0.73	0.8		0.93	0.82	IBUY
ONLN	0.75	0.79	0.93		0.83	ONLN
CLOU	0.54	0.99	0.82	0.83		CLOU
	OUSA	WCLD	IBUY	ONLN	CLOU

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OShares Global Constituents Risk-Adjusted Indicators

There is a big difference between OShares Etf performing well and OShares Global 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 Global'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
OUSA	0.58	(0.02)	(0.06)	0.97	(1.36)	3.18
WCLD	1.50	(0.17)	(0.16)	2.36	(3.86)	10.06
IBUY	1.25	(0.18)	0.95	2.13	(3.50)	7.71
ONLN	1.29	(0.11)	0.62	2.52	(2.94)	6.77
CLOU	1.32	(0.13)	(0.15)	2.14	(3.59)	8.59

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