Cambria Tax Correlations

TAX Etf

USD 22.50 0.43 1.88%

The current 90-days correlation between Cambria Tax Aware and FT Vest Equity is 0.8 (i.e., Very poor diversification). The correlation of Cambria Tax 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.

Cambria Tax Correlation With Market

Poor diversification

The correlation between Cambria Tax Aware and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cambria Tax Aware 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 Cambria Tax Aware. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Cambria Etf

0.64	AXP	American Express	Pair Corr
0.81	BA	Boeing	Pair Corr
0.68	JPM	JPMorgan Chase	Pair Corr

Moving against Cambria Etf

0.49	BND	Vanguard Total Bond	Pair Corr
0.47	PMBS	PIMCO Mortgage Backed	Pair Corr
0.44	FXY	Invesco CurrencyShares	Pair Corr
0.54	TRV	The Travelers Companies	Pair Corr
0.46	VZ	Verizon Communications	Pair Corr
0.31	XOM	Exxon Mobil Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.32	0.7	-0.49	0.56	0.26	-0.04	0.89	-0.8	0.16	META
MSFT	-0.32		-0.66	0.49	-0.74	0.56	0.87	-0.2	0.58	-0.05	MSFT
UBER	0.7	-0.66		-0.47	0.81	-0.22	-0.56	0.65	-0.84	0.38	UBER
F	-0.49	0.49	-0.47		-0.29	0.23	0.4	-0.39	0.67	0.34	F
T	0.56	-0.74	0.81	-0.29		-0.48	-0.63	0.4	-0.71	0.31	T
A	0.26	0.56	-0.22	0.23	-0.48		0.65	0.49	0.15	0.09	A
CRM	-0.04	0.87	-0.56	0.4	-0.63	0.65		0.02	0.41	-0.02	CRM
JPM	0.89	-0.2	0.65	-0.39	0.4	0.49	0.02		-0.71	0.21	JPM
MRK	-0.8	0.58	-0.84	0.67	-0.71	0.15	0.41	-0.71		-0.14	MRK
XOM	0.16	-0.05	0.38	0.34	0.31	0.09	-0.02	0.21	-0.14		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	META
CRM	+ 0.87	MSFT
T	+ 0.81	UBER
UBER	+ 0.7	META
MRK	+ 0.67	F
JPM	+ 0.65	UBER

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.8	META
T	- 0.74	MSFT
MRK	- 0.71	JPM
MRK	- 0.71	T
UBER	- 0.66	MSFT

Cambria Tax Competition Risk-Adjusted Indicators

There is a big difference between Cambria Etf performing well and Cambria Tax 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 Cambria Tax'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	1.51	0.13	0.07	0.03	1.98	(1.42)	2.49	(2.76)	8.65
MSFT	1.07	(0.12)	0.00	(0.34)	0.00	0.00	2.56	(2.14)	10.31
UBER	2.00	0.06	0.05	0.03	2.99	(1.97)	4.72	(4.21)	12.75
F	1.44	0.02	0.00	(0.11)	0.00	0.00	2.71	(2.89)	10.14
T	1.04	0.23	0.16	0.28	1.64	(1.07)	1.90	(2.12)	11.66
A	1.13	(0.13)	0.00	(0.28)	0.00	0.00	2.80	(2.59)	9.03
CRM	1.36	(0.26)	0.00	(0.39)	0.00	0.00	2.21	(3.53)	8.88
JPM	1.07	0.04	0.00	(0.09)	0.00	0.00	1.97	(3.35)	6.85
MRK	1.22	(0.11)	0.00	2.59	0.00	0.00	2.15	(2.24)	11.57
XOM	1.01	(0.02)	0.00	(0.17)	0.00	0.00	2.07	(2.36)	5.89

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