Tortoise Global Correlations
| TBLU Etf | USD 47.75 0.09 0.19% |
The current 90-days correlation between Tortoise Global Water and Mast Global Battery is 0.61 (i.e., Poor diversification). The correlation of Tortoise Global 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.
Tortoise Global Correlation With Market
Very weak diversification
The correlation between Tortoise Global Water and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tortoise Global Water and DJI in the same portfolio, assuming nothing else is changed.
Tortoise |
Moving together with Tortoise Etf
| 0.78 | PHO | Invesco Water Resources | PairCorr |
| 0.82 | FIW | First Trust Water | PairCorr |
| 0.8 | MAPP | Harbor ETF Trust | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Tortoise Global Constituents Risk-Adjusted Indicators
There is a big difference between Tortoise Etf performing well and Tortoise Global 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 Tortoise Global'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| EV | 1.33 | 0.06 | 0.02 | 0.61 | 1.57 | 3.34 | 7.99 | |||
| XLB | 0.68 | (0.17) | 0.00 | (0.22) | 0.00 | 1.24 | 4.91 | |||
| VAW | 0.67 | (0.15) | 0.00 | (0.16) | 0.00 | 1.25 | 5.34 | |||
| XME | 1.16 | (0.12) | 0.00 | (0.06) | 0.00 | 2.23 | 11.87 | |||
| PHO | 0.67 | (0.10) | 0.00 | (0.09) | 0.00 | 1.21 | 6.04 | |||
| FXZ | 0.95 | (0.23) | 0.00 | (0.21) | 0.00 | 1.54 | 7.34 | |||
| FIW | 0.66 | (0.10) | 0.00 | (0.10) | 0.00 | 1.24 | 5.94 | |||
| URNM | 1.67 | 0.00 | 0.00 | 0.03 | 1.87 | 3.81 | 10.31 | |||
| IYM | 0.72 | (0.18) | 0.00 | (0.21) | 0.00 | 1.19 | 5.38 |