VanEck Semiconductor Correlations

Etfs . USA . 
Etf . VanEck Semiconductor ETF
SMH Etf  USD 242.13  3.88  1.63%   
The current 90-days correlation between VanEck Semiconductor ETF and iShares Semiconductor ETF is 0.98 (i.e., Almost no diversification). The correlation of VanEck Semiconductor 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.

VanEck Semiconductor Correlation With Market

Very weak diversification

The correlation between VanEck Semiconductor ETF and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Semiconductor ETF 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 VanEck Semiconductor ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with VanEck Etf

  0.79VGT Vanguard InformationPairCorr
  0.87XLK Technology Select SectorPairCorr
  0.81IYW iShares Technology ETFPairCorr
  0.8SOXX iShares Semiconductor ETFPairCorr
  0.66CIBR First Trust NASDAQPairCorr
  0.79FTEC Fidelity MSCI InformationPairCorr
  0.79IGM iShares Expanded TechPairCorr
  0.79IYM iShares Basic MaterialsPairCorr
  0.67VTI Vanguard Total StockPairCorr
  0.71HPQ HP IncPairCorr
  0.61DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr
  0.81CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.69AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr

Moving against VanEck Etf

  0.49MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.45JNJ Johnson Johnson Sell-off TrendPairCorr

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   
XLI
+ 0.93
XLK
XLY
+ 0.91
XLF
XLI
+ 0.91
XLY
XLI
+ 0.88
XLF
XLY
+ 0.81
XLK
XLF
+ 0.76
XLK
  
High negative correlations   
XLF
- 0.18
SOXX
XLY
- 0.06
SOXX

VanEck Semiconductor Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Semiconductor 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 VanEck Semiconductor'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.

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