Two Roads Correlations

Etfs . USA . 
Etf . Two Roads Shared
SQEW Etf  USD 31.82  0.08  0.25%   
The current 90-days correlation between Two Roads Shared and LeaderSharesTM AlphaFactor Core is 0.93 (i.e., Almost no diversification). The correlation of Two Roads 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.

Two Roads Correlation With Market

Very poor diversification

The correlation between Two Roads Shared and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Two Roads Shared 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 Two Roads Shared. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with Two Etf

  0.89VO Vanguard Mid CapPairCorr
  0.93VXF Vanguard Extended Market Sell-off TrendPairCorr
  0.98IJH iShares Core SPPairCorr
  0.92IWR iShares Russell MidPairCorr
  0.98MDY SPDR SP MIDCAPPairCorr
  0.98FV First Trust DorseyPairCorr
  0.98IVOO Vanguard SP MidPairCorr
  0.98JHMM John Hancock MultifactorPairCorr
  0.99BBMC JPMorgan BetaBuilders MidPairCorr
  0.97XMMO Invesco SP MidCapPairCorr
  0.88SIXD AIM ETF ProductsPairCorr
  0.71CEFD ETRACS Monthly PayPairCorr
  0.84BAC Bank of America Sell-off TrendPairCorr
  0.88AXP American Express Sell-off TrendPairCorr
  0.64WMT Walmart Aggressive PushPairCorr
  0.62DIS Walt DisneyPairCorr
  0.69BA BoeingPairCorr
  0.75HD Home DepotPairCorr
  0.65HPQ HP IncPairCorr

Moving against Two Etf

  0.79ULE ProShares Ultra EuroPairCorr
  0.68PMBS PIMCO Mortgage BackedPairCorr
  0.65YCL ProShares Ultra YenPairCorr
  0.64FXY Invesco CurrencySharesPairCorr
  0.55TRV The Travelers CompaniesPairCorr
  0.42KO Coca ColaPairCorr
  0.41MCD McDonaldsPairCorr
  0.32T ATT Inc Earnings Call This WeekPairCorr

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   
LSAT
+ 0.92
LSAF
UMAR
+ 0.8
SIXL
UMAR
+ 0.77
LSAF
UMAR
+ 0.69
LSAT
SIXL
+ 0.55
LSAF
SIXL
+ 0.53
LSAT
  
High negative correlations   
WWJD
- 0.34
LSAF
LSAT
- 0.29
WWJD

Two Roads Constituents Risk-Adjusted Indicators

There is a big difference between Two Etf performing well and Two Roads 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 Two Roads' 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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