Satrix 40 Correlations

STX40 Etf

7,651 21.00 0.27%

The current 90-days correlation between Satrix 40 ETF and Satrix MSCI World is -0.11 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Satrix 40 moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Satrix 40 ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Satrix 40 Correlation With Market

Significant diversification

The correlation between Satrix 40 ETF and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Satrix 40 ETF and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Satrix 40 could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Satrix 40 when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Satrix 40 - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Satrix 40 ETF to buy it.

Moving together with Satrix Etf

0.97	STXSWX	Satrix Swix Top	Pair Corr
0.65	APACXJ	Coreshares Index Tracker	Pair Corr
0.97	STXCAP	Indexco Limited	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.69	-0.51	-0.41	0.48	0.27	0.58	0.3	-0.22	-0.44	META
MSFT	0.69		-0.6	-0.31	0.44	0.09	0.49	0.28	-0.08	-0.76	MSFT
UBER	-0.51	-0.6		0.39	-0.7	0.17	-0.75	-0.52	0.56	0.67	UBER
F	-0.41	-0.31	0.39		0.05	-0.28	0.01	0.34	-0.11	0.61	F
T	0.48	0.44	-0.7	0.05		-0.32	0.88	0.85	-0.72	-0.35	T
A	0.27	0.09	0.17	-0.28	-0.32		-0.32	-0.51	0.67	0.03	A
CRM	0.58	0.49	-0.75	0.01	0.88	-0.32		0.89	-0.8	-0.38	CRM
JPM	0.3	0.28	-0.52	0.34	0.85	-0.51	0.89		-0.84	-0.16	JPM
MRK	-0.22	-0.08	0.56	-0.11	-0.72	0.67	-0.8	-0.84		0.15	MRK
XOM	-0.44	-0.76	0.67	0.61	-0.35	0.03	-0.38	-0.16	0.15		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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	+ 0.89	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
MSFT	+ 0.69	META
XOM	+ 0.67	UBER
MRK	+ 0.67	A

High negative correlations

MRK	- 0.84	JPM
MRK	- 0.8	CRM
XOM	- 0.76	MSFT
CRM	- 0.75	UBER
MRK	- 0.72	T
T	- 0.7	UBER

Satrix 40 Competition Risk-Adjusted Indicators

There is a big difference between Satrix Etf performing well and Satrix 40 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 Satrix 40'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
META	1.16	0.06	0.03	0.15	1.43	(1.27)	2.62	(3.15)	7.43
MSFT	0.87	(0.02)	(0.02)	(0.01)	1.63	(0.78)	1.78	(2.23)	8.14
UBER	1.71	(0.32)	0.00	(0.34)	0.00	0.00	2.67	(5.35)	20.41
F	1.44	(0.15)	0.00	(0.08)	0.00	0.00	2.53	(2.90)	11.21
T	0.96	0.11	0.08	0.52	1.12	(1.02)	1.93	(1.99)	7.95
A	1.24	(0.09)	0.00	(0.16)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.48	0.37	0.23	0.30	1.30	(1.66)	3.18	(2.88)	14.80
JPM	1.04	0.16	0.14	0.11	1.08	(1.20)	1.99	(1.44)	15.87
MRK	0.96	(0.27)	0.00	(1.10)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.90	(0.14)	0.00	(0.43)	0.00	0.00	1.83	(2.14)	6.06

Satrix 40 Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Satrix 40 etf to make a market-neutral strategy. Peer analysis of Satrix 40 could also be used in its relative valuation, which is a method of valuing Satrix 40 by comparing valuation metrics with similar companies.

Satrix MSCI World Satrix Swix Top Satrix 40 ETF Satrix MSCI EM Satrix Resi ETF Satrix MSCI China Satrix Property ETF Satrix Divi Plus Satrix Indi ETF American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

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