Saba Capital Correlations

SABA Etf

8.89 0.09 1.00%

The current 90-days correlation between Saba Capital Income and Vanguard Total Stock is 0.38 (i.e., Weak diversification). The correlation of Saba Capital 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.

Saba Capital Correlation With Market

Modest diversification

The correlation between Saba Capital Income and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saba Capital Income and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Saba Capital Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Saba Etf

0.87	VTI	Vanguard Total Stock	Pair Corr
0.87	SPY	SPDR SP 500	Pair Corr
0.87	IVV	iShares Core SP	Pair Corr
0.92	VUG	Vanguard Growth Index	Pair Corr
0.74	VO	Vanguard Mid Cap	Pair Corr
0.78	VB	Vanguard Small Cap	Pair Corr
0.88	DSJA	DSJA	Pair Corr
0.89	RSPY	Tuttle Capital Management	Pair Corr
0.89	MEME	Roundhill Investments	Pair Corr
0.88	AMZU	Direxion Daily AMZN	Pair Corr
0.94	ARKQ	ARK Autonomous Technology	Pair Corr
0.92	SOFR	SOFR Symbol Change	Pair Corr
0.89	NUMG	Nuveen ESG Mid	Pair Corr
0.83	JBBB	Janus Detroit Street	Pair Corr
0.87	GPIX	Goldman Sachs SP	Pair Corr
0.9	FEDL	UBS AG London	Pair Corr
0.89	FELG	Fidelity Covington Trust	Pair Corr
0.87	JANW	AIM ETF Products	Pair Corr
0.82	VIRS	Pacer Financial	Pair Corr
0.83	SNPE	Xtrackers SP 500	Pair Corr
0.87	IYZ	IShares Telecommunicatio	Pair Corr
0.92	QJUN	First Trust Exchange	Pair Corr
0.8	IDAT	Ishares Trust	Pair Corr
0.91	BSCO	Invesco BulletShares 2024	Pair Corr
0.87	FFTY	Innovator IBD 50	Pair Corr
0.83	SHYL	Xtrackers Short Duration	Pair Corr
0.88	APRJ	Innovator Premium Income	Pair Corr
0.9	RXI	iShares Global Consumer	Pair Corr
0.85	CPAI	Northern Lights	Pair Corr
0.63	EFU	ProShares UltraShort MSCI	Pair Corr

Moving against Saba Etf

0.6	VEA	Vanguard FTSE Developed Sell-off Trend	Pair Corr
0.44	VWO	Vanguard FTSE Emerging	Pair Corr
0.38	BND	Vanguard Total Bond	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.69	-0.51	-0.41	0.48	0.27	0.58	0.3	-0.22	-0.44	META
MSFT	0.69		-0.6	-0.31	0.44	0.09	0.49	0.28	-0.08	-0.76	MSFT
UBER	-0.51	-0.6		0.39	-0.7	0.17	-0.75	-0.52	0.56	0.67	UBER
F	-0.41	-0.31	0.39		0.05	-0.28	0.01	0.34	-0.11	0.61	F
T	0.48	0.44	-0.7	0.05		-0.32	0.88	0.85	-0.72	-0.35	T
A	0.27	0.09	0.17	-0.28	-0.32		-0.32	-0.51	0.67	0.03	A
CRM	0.58	0.49	-0.75	0.01	0.88	-0.32		0.89	-0.8	-0.38	CRM
JPM	0.3	0.28	-0.52	0.34	0.85	-0.51	0.89		-0.84	-0.16	JPM
MRK	-0.22	-0.08	0.56	-0.11	-0.72	0.67	-0.8	-0.84		0.15	MRK
XOM	-0.44	-0.76	0.67	0.61	-0.35	0.03	-0.38	-0.16	0.15		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
MSFT	+ 0.69	META
XOM	+ 0.67	UBER
MRK	+ 0.67	A

High negative correlations

MRK	- 0.84	JPM
MRK	- 0.8	CRM
XOM	- 0.76	MSFT
CRM	- 0.75	UBER
MRK	- 0.72	T
T	- 0.7	UBER

Saba Capital Competition Risk-Adjusted Indicators

There is a big difference between Saba Etf performing well and Saba Capital 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 Saba Capital'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	1.16	0.06	0.03	0.15	1.43	(1.27)	2.62	(3.15)	7.43
MSFT	0.87	(0.02)	(0.02)	(0.01)	1.63	(0.78)	1.78	(2.23)	8.14
UBER	1.71	(0.32)	0.00	(0.34)	0.00	0.00	2.67	(5.35)	20.41
F	1.44	(0.15)	0.00	(0.08)	0.00	0.00	2.53	(2.90)	11.21
T	0.96	0.11	0.08	0.52	1.12	(1.02)	1.93	(1.99)	7.95
A	1.24	(0.09)	0.00	(0.16)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.48	0.37	0.23	0.30	1.30	(1.66)	3.18	(2.88)	14.80
JPM	1.04	0.16	0.14	0.11	1.08	(1.20)	1.99	(1.44)	15.87
MRK	0.96	(0.27)	0.00	(1.10)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.90	(0.14)	0.00	(0.43)	0.00	0.00	1.83	(2.14)	6.06

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