ETF Managers Correlations
| SILX Etf | USD 1.75 0.00 0.00% |
The current 90-days correlation between ETF Managers Group and MicroSectors Gold Miners is 0.11 (i.e., Average diversification). The correlation of ETF Managers 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.
ETF Managers Correlation With Market
Good diversification
The correlation between ETF Managers Group and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETF Managers Group and DJI in the same portfolio, assuming nothing else is changed.
ETF |
Moving together with ETF Etf
| 0.81 | NRGU | Bank Of Montreal | PairCorr |
| 0.77 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
| 0.81 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.84 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.9 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.93 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
Moving against ETF Etf
| 0.92 | DSJA | DSJA | PairCorr |
| 0.86 | FNGU | MicroSectors FANG Index | PairCorr |
| 0.85 | RSPY | Tuttle Capital Management | PairCorr |
| 0.83 | QLD | ProShares Ultra QQQ | PairCorr |
| 0.77 | MEME | Roundhill Investments | PairCorr |
| 0.71 | SSO | ProShares Ultra SP500 | PairCorr |
| 0.68 | UYG | ProShares Ultra Fina | PairCorr |
| 0.67 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.67 | UPRO | ProShares UltraPro SP500 | PairCorr |
| 0.59 | TECL | Direxion Daily Technology | PairCorr |
| 0.86 | WMT | Walmart | PairCorr |
| 0.84 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.82 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.78 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.77 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.47 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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ETF Managers Competition Risk-Adjusted Indicators
There is a big difference between ETF Etf performing well and ETF Managers 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 ETF Managers' 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 | 1.26 | 0.07 | 0.04 | 0.32 | 1.44 | 2.62 | 7.43 | |||
| MSFT | 0.87 | 0.01 | 0.00 | (0.09) | 1.61 | 1.78 | 8.14 | |||
| UBER | 1.72 | (0.19) | 0.00 | (0.96) | 0.00 | 2.67 | 20.41 | |||
| F | 1.39 | (0.10) | 0.00 | (0.34) | 0.00 | 2.38 | 11.21 | |||
| T | 0.96 | 0.05 | 0.03 | 0.20 | 1.15 | 1.93 | 7.95 | |||
| A | 1.12 | (0.12) | 0.00 | (0.34) | 0.00 | 2.43 | 8.06 | |||
| CRM | 1.47 | 0.33 | 0.20 | 6.67 | 1.34 | 3.18 | 14.80 | |||
| JPM | 1.06 | 0.26 | 0.19 | (17.88) | 1.04 | 1.99 | 15.87 | |||
| MRK | 0.96 | (0.21) | 0.00 | (0.89) | 0.00 | 1.72 | 5.17 | |||
| XOM | 0.77 | (0.15) | 0.00 | (0.76) | 0.00 | 1.71 | 6.06 |
ETF Managers Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ETF Managers etf to make a market-neutral strategy. Peer analysis of ETF Managers could also be used in its relative valuation, which is a method of valuing ETF Managers by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |