Sprott Energy Correlations

SETM Etf

15.41 0.25 1.60%

The current 90-days correlation between Sprott Energy Transition and Sprott Lithium Miners is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sprott Energy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sprott Energy Transition moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sprott Energy Correlation With Market

Significant diversification

The correlation between Sprott Energy Transition and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Energy Transition 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 Sprott Energy Transition. 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 Sprott Etf

0.81	XME	SPDR SP Metals	Pair Corr
0.71	FXZ	First Trust Materials	Pair Corr
0.78	URNM	Sprott Uranium Miners	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.65	MSFT	Microsoft	Pair Corr
0.67	CAT	Caterpillar	Pair Corr
0.62	BAC	Bank of America Sell-off Trend	Pair Corr

Moving against Sprott Etf

0.48	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.52	KO	Coca Cola	Pair Corr
0.48	T	ATT Inc Earnings Call This Week	Pair Corr
0.42	MCD	McDonalds	Pair Corr
0.33	IBM	International Business	Pair Corr

Related Correlations Analysis

	LITP	COPJ	URNJ	NIKL	URNM
LITP		-0.1	0.87	0.85	0.88	LITP
COPJ	-0.1		-0.27	-0.26	-0.28	COPJ
URNJ	0.87	-0.27		0.84	0.99	URNJ
NIKL	0.85	-0.26	0.84		0.87	NIKL
URNM	0.88	-0.28	0.99	0.87		URNM
	LITP	COPJ	URNJ	NIKL	URNM

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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

URNM	+ 0.99	URNJ
URNM	+ 0.88	LITP
URNJ	+ 0.87	LITP
URNM	+ 0.87	NIKL
NIKL	+ 0.85	LITP
NIKL	+ 0.84	URNJ

High negative correlations

URNM	- 0.28	COPJ
URNJ	- 0.27	COPJ
NIKL	- 0.26	COPJ
COPJ	- 0.1	LITP

Sprott Energy Constituents Risk-Adjusted Indicators

There is a big difference between Sprott Etf performing well and Sprott Energy 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 Sprott Energy'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
LITP	1.67	(0.11)	0.00	(0.48)	0.00	0.00	4.10	(2.90)	8.00
COPJ	1.47	0.06	0.08	(3.79)	1.74	(1.47)	2.68	(2.58)	10.31
URNJ	2.40	(0.38)	0.00	(0.54)	0.00	0.00	3.93	(4.29)	22.98
NIKL	1.34	(0.28)	0.00	(101.73)	0.00	0.00	3.66	(3.44)	7.53
URNM	1.92	(0.30)	0.00	(0.63)	0.00	0.00	3.57	(3.78)	17.49

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