Tuttle Capital Correlations

SKRE Etf   12.48  0.27  2.12%   
The current 90-days correlation between Tuttle Capital Daily and Ultimus Managers Trust is -0.34 (i.e., Very good diversification). The correlation of Tuttle 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.

Tuttle Capital Correlation With Market

Excellent diversification

The correlation between Tuttle Capital Daily and DJI is -0.52 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tuttle Capital Daily 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 Tuttle Capital Daily. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Tuttle Etf

  0.76SH ProShares Short SP500PairCorr
  0.73SPXU ProShares UltraPro ShortPairCorr
  0.74SDS ProShares UltraShort Aggressive PushPairCorr
  0.73SPXS Direxion Daily SP Aggressive PushPairCorr
  0.77RWM ProShares Short RussPairCorr
  0.77SPDN Direxion Daily SPPairCorr
  0.95DOG ProShares Short Dow30PairCorr

Moving against Tuttle Etf

  0.69PFFL ETRACS 2xMonthly PayPairCorr
  0.64CEFD ETRACS Monthly PayPairCorr
  0.61SIXD AIM ETF ProductsPairCorr
  0.61YCL ProShares Ultra Yen Potential GrowthPairCorr
  0.59ULE ProShares Ultra EuroPairCorr
  0.58AA Alcoa CorpPairCorr
  0.57FXY Invesco CurrencySharesPairCorr
  0.48PMBS PIMCO Mortgage BackedPairCorr
  0.79BAC Bank of America Aggressive PushPairCorr
  0.67DD Dupont De NemoursPairCorr
  0.67TRV The Travelers CompaniesPairCorr
  0.66CVX Chevron CorpPairCorr
  0.6CAT CaterpillarPairCorr
  0.57VZ Verizon Communications Sell-off TrendPairCorr
  0.56DIS Walt DisneyPairCorr
  0.42AXP American ExpressPairCorr
  0.41INTC IntelPairCorr
  0.37JNJ Johnson JohnsonPairCorr
  0.35GE GE AerospacePairCorr
  0.31WMT Walmart Aggressive PushPairCorr

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   
JPMMETA
CRMMSFT
TMETA
TUBER
JPMUBER
XOMF
  
High negative correlations   
MRKMETA
MRKJPM
MRKT
MRKUBER
UBERMSFT
FMETA

Tuttle Capital Competition Risk-Adjusted Indicators

There is a big difference between Tuttle Etf performing well and Tuttle 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 Tuttle 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.36  0.28  0.17  0.57  1.44 
 3.22 
 7.11 
MSFT  1.03 (0.05) 0.00 (0.16) 0.00 
 2.20 
 10.31 
UBER  1.95  0.16  0.06  3.78  2.78 
 4.72 
 12.29 
F  1.35 (0.11) 0.00 (0.13) 0.00 
 2.55 
 10.97 
T  0.94  0.30  0.27  0.50  0.88 
 1.90 
 7.94 
A  1.07 (0.03) 0.00 (0.07) 0.00 
 2.81 
 9.03 
CRM  1.45 (0.15) 0.00 (0.22) 0.00 
 2.21 
 15.92 
JPM  0.89  0.14  0.11  0.15  1.16 
 1.97 
 6.85 
MRK  1.26 (0.10) 0.00 (2.54) 0.00 
 2.15 
 11.57 
XOM  0.91 (0.12) 0.00 (0.43) 0.00 
 1.76 
 5.69