DEUTSCHE MID Correlations

SMCAX Etf

USD 9.18 0.02 0.22%

The current 90-days correlation between DEUTSCHE MID CAP and DEUTSCHE MID CAP is 0.97 (i.e., Almost no diversification). The correlation of DEUTSCHE MID 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.

DEUTSCHE MID Correlation With Market

Weak diversification

The correlation between DEUTSCHE MID CAP and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding DEUTSCHE MID CAP 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 DEUTSCHE MID CAP. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with DEUTSCHE Etf

0.68	JCRAX	Alps/corecommodity	Pair Corr
0.67	JCRCX	Alps/corecommodity	Pair Corr
0.92	SMCMX	Alpssmith Short Duration	Pair Corr
1.0	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.9	AXSAX	Axonic Strategic Income	Pair Corr
0.9	AXSIX	Axonic Strategic Income	Pair Corr
0.86	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.87	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.94	DEED	First Trust TCW	Pair Corr
0.8	JPIE	JP Morgan Exchange	Pair Corr
0.9	AFIF	Anfield Universal Fixed	Pair Corr
0.98	MUSI	American Century Mul	Pair Corr
0.94	BND	Vanguard Total Bond	Pair Corr
0.9	VEA	Vanguard FTSE Developed	Pair Corr
0.63	BBEM	JP Morgan Exchange	Pair Corr
0.77	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.79	JGH	Nuveen Global High	Pair Corr
0.76	BNGE	First Trust S	Pair Corr
0.8	EEMX	SPDR MSCI Emerging	Pair Corr
0.77	GDXU	MicroSectors Gold Miners	Pair Corr
0.85	GHMS	Goose Hollow Multi	Pair Corr
0.94	ACWV	iShares MSCI Global	Pair Corr
0.82	LIAE	Stone Ridge 2050	Pair Corr

Moving against DEUTSCHE Etf

0.74	INFCX	Alpskotak India Growth	Pair Corr
0.73	INAAX	Alpskotak India Growth	Pair Corr
0.73	INDIX	Alpskotak India Growth	Pair Corr
0.42	VUG	Vanguard Growth Index	Pair Corr
0.4	VB	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	SMCAX	SMCCX	TIPSX	DHDG	Z	MBCC	MBBB	BZDYF
SMCAX		1.0	0.96	0.04	0.07	0.25	0.96	0.0	SMCAX
SMCCX	1.0		0.95	0.07	0.1	0.28	0.96	0.0	SMCCX
TIPSX	0.96	0.95		-0.16	-0.08	0.06	0.96	0.0	TIPSX
DHDG	0.04	0.07	-0.16		0.84	0.94	-0.07	0.0	DHDG
Z	0.07	0.1	-0.08	0.84		0.83	-0.04	0.0	Z
MBCC	0.25	0.28	0.06	0.94	0.83		0.13	0.0	MBCC
MBBB	0.96	0.96	0.96	-0.07	-0.04	0.13		0.0	MBBB
BZDYF	0.0	0.0	0.0	0.0	0.0	0.0	0.0		BZDYF
	SMCAX	SMCCX	TIPSX	DHDG	Z	MBCC	MBBB	BZDYF

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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

SMCCX	+ 1.0	SMCAX
TIPSX	+ 0.96	SMCAX
MBBB	+ 0.96	SMCAX
MBBB	+ 0.96	SMCCX
MBBB	+ 0.96	TIPSX
TIPSX	+ 0.95	SMCCX

High negative correlations

DHDG	- 0.16	TIPSX
Z	- 0.08	TIPSX
MBBB	- 0.07	DHDG
MBBB	- 0.04	Z
BZDYF	- 0.0	MBBB
BZDYF	- 0.0	MBCC

DEUTSCHE MID Constituents Risk-Adjusted Indicators

There is a big difference between DEUTSCHE Etf performing well and DEUTSCHE MID 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 DEUTSCHE MID'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
SMCAX	0.15	0.01	0.32	0.05	0.11	(0.22)	0.33	(0.33)	0.99
SMCCX	0.15	0.00	0.28	0.00	0.15	(0.20)	0.33	(0.33)	1.00
TIPSX	0.22	0.02	0.32	0.58	0.15	(0.27)	0.52	(0.42)	1.24
DHDG	0.43	(0.02)	0.00	(0.12)	0.00	0.00	0.87	(0.94)	2.86
Z	1.90	(0.05)	0.00	(0.10)	0.00	0.00	3.23	(4.38)	14.24
MBCC	0.76	(0.02)	0.00	(0.09)	0.00	0.00	1.34	(2.25)	4.26
MBBB	0.25	0.01	0.24	0.10	0.26	(0.27)	0.52	(0.51)	1.48
BZDYF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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