AdvisorShares Correlations

QPX Etf

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The correlation of AdvisorShares 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.

AdvisorShares Correlation With Market

Good diversification

The correlation between AdvisorShares Q Dynamic and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AdvisorShares Q Dynamic 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 AdvisorShares Q Dynamic. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with AdvisorShares Etf

0.77	VTI	Vanguard Total Stock	Pair Corr
0.78	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.78	IVV	iShares Core SP	Pair Corr
0.68	VIG	Vanguard Dividend	Pair Corr
0.78	VV	Vanguard Large Cap	Pair Corr
0.68	RSP	Invesco SP 500	Pair Corr
0.77	IWB	iShares Russell 1000	Pair Corr
0.77	ESGU	iShares ESG Aware	Pair Corr
0.76	DFAC	Dimensional Core Equity	Pair Corr
0.78	SPLG	SPDR Portfolio SP	Pair Corr
0.75	UPRO	ProShares UltraPro SP500	Pair Corr
0.78	QTJA	Innovator ETFs Trust	Pair Corr
0.72	QTOC	Innovator ETFs Trust	Pair Corr
0.8	XTOC	Innovator ETFs Trust	Pair Corr
0.71	XTJA	Innovator ETFs Trust	Pair Corr
0.81	HD	Home Depot	Pair Corr
0.89	AXP	American Express	Pair Corr
0.84	DIS	Walt Disney	Pair Corr
0.76	BAC	Bank of America Aggressive Push	Pair Corr

Moving against AdvisorShares Etf

0.31	GDXU	MicroSectors Gold Miners	Pair Corr
0.55	VZ	Verizon Communications	Pair Corr
0.47	XOM	Exxon Mobil Corp Earnings Call Next Week	Pair Corr
0.44	KO	Coca Cola	Pair Corr
0.4	CVX	Chevron Corp	Pair Corr
0.36	JNJ	Johnson Johnson Sell-off Trend	Pair Corr

Related Correlations Analysis

	DWAW	QQH	LCG	QGRO	MMLG
DWAW		0.9	0.92	0.97	0.98	DWAW
QQH	0.9		0.75	0.81	0.88	QQH
LCG	0.92	0.75		0.98	0.96	LCG
QGRO	0.97	0.81	0.98		0.99	QGRO
MMLG	0.98	0.88	0.96	0.99		MMLG
	DWAW	QQH	LCG	QGRO	MMLG

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AdvisorShares Constituents Risk-Adjusted Indicators

There is a big difference between AdvisorShares Etf performing well and AdvisorShares 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 AdvisorShares' 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
DWAW	1.00	(0.11)	0.64	1.62	(2.16)	4.98
QQH	1.17	(0.22)	2.40	1.95	(2.69)	5.67
LCG	1.08	(0.07)	0.87	1.76	(2.56)	6.19
QGRO	1.08	(0.07)	0.72	1.75	(2.21)	5.86
MMLG	1.29	(0.12)	0.50	2.27	(2.79)	7.74

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