Xtrackers Municipal Correlations

RVNU Etf

USD 24.60 0.10 0.41%

The current 90-days correlation between Xtrackers Municipal and VanEck Long Muni is 0.68 (i.e., Poor diversification). The correlation of Xtrackers Municipal 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.

Xtrackers Municipal Correlation With Market

Significant diversification

The correlation between Xtrackers Municipal Infrastruc and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Xtrackers Municipal Infrastruc 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 Xtrackers Municipal Infrastructure. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with Xtrackers Etf

0.88	TFI	SPDR Nuveen Bloomberg	Pair Corr
0.92	PZA	Invesco National AMT	Pair Corr
0.84	MMIN	IQ MacKay Municipal	Pair Corr
0.93	MLN	VanEck Long Muni	Pair Corr
0.77	FLMB	Franklin Liberty Federal	Pair Corr
0.91	SMI	VanEck Vectors ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.11	0.51	-0.55	0.16	0.46	0.39	0.89	-0.64	-0.19	META
MSFT	0.11		-0.56	-0.07	-0.81	0.8	0.89	0.3	0.41	-0.58	MSFT
UBER	0.51	-0.56		-0.23	0.78	-0.33	-0.49	0.43	-0.83	0.51	UBER
F	-0.55	-0.07	-0.23		0.11	-0.21	-0.25	-0.4	0.38	0.47	F
T	0.16	-0.81	0.78	0.11		-0.67	-0.74	0.04	-0.66	0.65	T
A	0.46	0.8	-0.33	-0.21	-0.67		0.86	0.63	0.2	-0.5	A
CRM	0.39	0.89	-0.49	-0.25	-0.74	0.86		0.48	0.25	-0.66	CRM
JPM	0.89	0.3	0.43	-0.4	0.04	0.63	0.48		-0.55	-0.07	JPM
MRK	-0.64	0.41	-0.83	0.38	-0.66	0.2	0.25	-0.55		-0.38	MRK
XOM	-0.19	-0.58	0.51	0.47	0.65	-0.5	-0.66	-0.07	-0.38		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	+ 0.89	META
CRM	+ 0.89	MSFT
CRM	+ 0.86	A
A	+ 0.8	MSFT
T	+ 0.78	UBER
XOM	+ 0.65	T

High negative correlations

MRK	- 0.83	UBER
T	- 0.81	MSFT
CRM	- 0.74	T
A	- 0.67	T
XOM	- 0.66	CRM
MRK	- 0.66	T

Xtrackers Municipal Competition Risk-Adjusted Indicators

There is a big difference between Xtrackers Etf performing well and Xtrackers Municipal 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 Xtrackers Municipal'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	1.67	0.06	0.02	(0.01)	2.39	(1.45)	2.96	(4.29)	8.90
MSFT	1.12	(0.16)	0.00	(0.23)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.94	0.34	0.15	0.38	2.15	(2.13)	4.72	(3.13)	12.75
F	1.46	0.10	0.04	0.03	2.22	(1.38)	2.71	(2.89)	10.14
T	0.99	0.37	0.24	0.67	1.40	(1.17)	1.99	(1.21)	11.66
A	1.14	(0.15)	0.00	(0.21)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.39	(0.29)	0.00	(0.28)	0.00	0.00	2.72	(3.53)	8.88
JPM	1.10	0.11	0.06	0.03	1.67	(1.06)	2.16	(2.12)	6.85
MRK	1.21	(0.13)	0.00	0.61	0.00	0.00	2.07	(2.25)	11.58
XOM	1.01	0.20	0.16	0.38	1.21	(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