ETRACS 2xMonthly Correlations

Etfs . USA . 
Etf . ETRACS 2xMonthly Pay
SMHB Etf  USD 5.00  0.03  0.60%   
The current 90-days correlation between ETRACS 2xMonthly Pay and ETRACS Monthly Pay is 0.51 (i.e., Very weak diversification). The correlation of ETRACS 2xMonthly 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.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ETRACS 2xMonthly Pay. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with ETRACS Etf

  0.7UYG ProShares Ultra FinaPairCorr
  0.62EWC iShares MSCI CanadaPairCorr
  0.69IRET iREIT MarketVectorPairCorr
  0.71CSCO Cisco SystemsPairCorr
  0.63GE GE AerospacePairCorr

Moving against ETRACS Etf

  0.58MRK Merck CompanyPairCorr

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   
JPM
+ 0.9
META
CRM
+ 0.89
MSFT
T
+ 0.8
UBER
CRM
+ 0.79
A
A
+ 0.69
MSFT
JPM
+ 0.62
A
  
High negative correlations   
MRK
- 0.85
UBER
T
- 0.79
MSFT
MRK
- 0.75
META
CRM
- 0.71
T
MRK
- 0.65
T
MRK
- 0.63
JPM

ETRACS 2xMonthly Competition Risk-Adjusted Indicators

There is a big difference between ETRACS Etf performing well and ETRACS 2xMonthly 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 ETRACS 2xMonthly'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  1.59  0.02  0.00 (0.05) 0.00 
 0.00 
 2.57 
(3.73)
 8.90 
MSFT  1.12 (0.15) 0.00 (0.28) 0.00 
 0.00 
 2.58 
(2.14)
 10.31 
UBER  1.88  0.41  0.19  0.74  2.06 
(2.04)
 4.72 
(3.13)
 12.75 
F  1.47  0.07  0.03  0.00  2.22 
(1.39)
 2.71 
(2.89)
 10.14 
T  1.04  0.26  0.16  0.40  1.61 
(1.11)
 1.90 
(1.75)
 11.66 
A  1.15 (0.15) 0.00 (0.23) 0.00 
 0.00 
 2.92 
(2.59)
 9.03 
CRM  1.38 (0.27) 0.00 (0.31) 0.00 
 0.00 
 2.72 
(3.81)
 8.88 
JPM  1.10  0.09  0.05  0.02  1.74 
(1.04)
 1.99 
(3.35)
 6.85 
MRK  1.17 (0.11) 0.00  1.52  0.00 
 0.00 
 2.07 
(1.80)
 11.58 
XOM  1.06  0.11  0.10  0.17  1.39 
(1.08)
 2.55 
(2.36)
 5.89 

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