Exchange Listed Correlations

SSPY Etf  USD 80.33  0.36  0.45%   
The current 90-days correlation between Exchange Listed Funds and ProShares SP 500 is 0.71 (i.e., Poor diversification). The correlation of Exchange Listed 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.

Exchange Listed Correlation With Market

ExchangeDowDiversified AwayExchangeDowDiversified Away100%

Very weak diversification

The correlation between Exchange Listed Funds and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Exchange Listed Funds 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 Exchange Listed Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Exchange Etf

  0.91VTV Vanguard Value IndexPairCorr
  0.89VYM Vanguard High DividendPairCorr
  0.96IWD iShares Russell 1000PairCorr
  0.96DGRO iShares Core DividendPairCorr
  0.91IVE iShares SP 500PairCorr
  0.9DVY iShares Select DividendPairCorr
  0.91SPYV SPDR Portfolio SPPairCorr
  0.88FVD First Trust ValuePairCorr
  0.91IUSV iShares Core SPPairCorr
  0.85NOBL ProShares SP 500PairCorr
  0.81UPRO ProShares UltraPro SP500PairCorr
  0.73TRV The Travelers CompaniesPairCorr
  0.7JNJ Johnson JohnsonPairCorr
  0.68DD Dupont De NemoursPairCorr
  0.91HD Home DepotPairCorr
  0.75CAT CaterpillarPairCorr
  0.71CVX Chevron CorpPairCorr

Moving against Exchange Etf

  0.36BA BoeingPairCorr

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   
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QARPSPXE
SHYLQARP
SHYLSPXE
  
High negative correlations   
SPVMSHYL

Exchange Listed Constituents Risk-Adjusted Indicators

There is a big difference between Exchange Etf performing well and Exchange Listed 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 Exchange Listed'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.