Roundhill ETF Correlations

QDTE Etf

35.82 0.15 0.42%

The current 90-days correlation between Roundhill ETF Trust and FT Vest Equity is -0.15 (i.e., Good diversification). The correlation of Roundhill ETF 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.

Roundhill ETF Correlation With Market

Good diversification

The correlation between Roundhill ETF Trust and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill ETF 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 Roundhill ETF 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 estimate.

Moving together with Roundhill Etf

0.81	VTI	Vanguard Total Stock	Pair Corr
0.81	SPY	SPDR SP 500	Pair Corr
0.81	IVV	iShares Core SP	Pair Corr
0.66	VIG	Vanguard Dividend	Pair Corr
0.81	VV	Vanguard Large Cap	Pair Corr
0.86	RSP	Invesco SP 500	Pair Corr
0.97	IWB	iShares Russell 1000	Pair Corr
0.96	ESGU	iShares ESG Aware	Pair Corr
0.81	DFAC	Dimensional Core Equity	Pair Corr
0.97	SPLG	SPDR Portfolio SP	Pair Corr
0.78	UPRO	ProShares UltraPro SP500	Pair Corr
0.87	QTJA	Innovator ETFs Trust	Pair Corr
0.83	QTOC	Innovator ETFs Trust	Pair Corr
0.96	XTOC	Innovator ETFs Trust	Pair Corr
0.71	QTAP	Innovator Growth 100	Pair Corr
0.95	XTJA	Innovator ETFs Trust	Pair Corr
0.61	XTAP	Innovator Equity Acc	Pair Corr
0.79	JPM	JPMorgan Chase	Pair Corr
0.7	HD	Home Depot	Pair Corr
0.83	AXP	American Express	Pair Corr
0.8	BAC	Bank of America	Pair Corr

Moving against Roundhill Etf

0.54	VZ	Verizon Communications	Pair Corr
0.39	PG	Procter Gamble	Pair Corr
0.37	JNJ	Johnson Johnson	Pair Corr
0.35	KO	Coca Cola	Pair Corr
0.34	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Roundhill ETF Competition Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill ETF 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 Roundhill ETF'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
META	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC