Pacer Funds Correlations

PSMD Etf  USD 28.84  0.01  0.03%   
The current 90-days correlation between Pacer Funds Trust and Pacer Swan SOS is 0.97 (i.e., Almost no diversification). The correlation of Pacer Funds 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.

Pacer Funds Correlation With Market

Good diversification

The correlation between Pacer Funds Trust and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacer Funds Trust 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 Pacer Funds Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with Pacer Etf

  0.84BUFR First Trust CboePairCorr
  0.8BUFD FT Cboe VestPairCorr
  0.77PSEP Innovator SP 500PairCorr
  0.87PJAN Innovator SP 500PairCorr
  0.83PJUL Innovator SP 500PairCorr
  0.78PAUG Innovator Equity PowerPairCorr
  0.74DNOV FT Cboe VestPairCorr
  0.83PMAY Innovator SP 500PairCorr
  0.79PJUN Innovator SP 500PairCorr
  0.8BAC Bank of America Sell-off TrendPairCorr
  0.84AXP American Express Sell-off TrendPairCorr
  0.74BA BoeingPairCorr

Moving against Pacer Etf

  0.46TRV The Travelers CompaniesPairCorr
  0.38WTID UBS ETRACSPairCorr
  0.43VZ Verizon CommunicationsPairCorr
  0.43MRK Merck CompanyPairCorr
  0.32PG Procter GamblePairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
JPMMETA
CRMMSFT
TUBER
CRMA
AMSFT
UBERMETA
  
High negative correlations   
MRKUBER
TMSFT
MRKMETA
CRMT
MRKT
MRKJPM

Pacer Funds Competition Risk-Adjusted Indicators

There is a big difference between Pacer Etf performing well and Pacer Funds 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 Pacer Funds' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.59 (0.03) 0.00 (0.10) 0.00 
 2.57 
 8.90 
MSFT  1.10 (0.17) 0.00 (0.32) 0.00 
 2.58 
 10.31 
UBER  1.89  0.35  0.16  0.60  2.15 
 4.72 
 12.75 
F  1.47  0.08  0.03  0.00  2.22 
 2.71 
 10.14 
T  1.05  0.27  0.17  0.42  1.61 
 1.90 
 11.66 
A  1.16 (0.17) 0.00 (0.26) 0.00 
 2.92 
 9.03 
CRM  1.38 (0.29) 0.00 (0.33) 0.00 
 2.72 
 8.88 
JPM  1.10  0.07  0.04 (0.01) 1.72 
 1.99 
 6.85 
MRK  1.15 (0.08) 0.00  1.02  0.00 
 2.07 
 11.58 
XOM  1.07  0.10  0.10  0.15  1.40 
 2.55 
 5.89