Cabana Target Correlations

TDSC Etf

USD 25.42 0.26 1.03%

The correlation of Cabana Target 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.

Cabana Target Correlation With Market

Poor diversification

The correlation between Cabana Target Drawdown and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cabana Target Drawdown 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 Cabana Target Drawdown. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Cabana Etf

0.85	YYY	Amplify High Income	Pair Corr
0.8	TDSB	Cabana Target Drawdown	Pair Corr
0.83	GMOM	Cambria Global Momentum	Pair Corr
0.78	TACK	Fairlead Tactical Sector	Pair Corr
0.79	NFLX	Netflix	Pair Corr
0.63	IBM	International Business	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.62	CVX	Chevron Corp	Pair Corr
0.75	CSCO	Cisco Systems	Pair Corr
0.72	MMM	3M Company	Pair Corr

Moving against Cabana Etf

0.43	FNGD	MicroSectors FANG Index Downward Rally	Pair Corr
0.7	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	TCHC	PTEC	TACT	SRCE	STEL
TCHC		0.0	0.0	0.0	0.0	TCHC
PTEC	0.0		-0.04	0.87	0.49	PTEC
TACT	0.0	-0.04		-0.05	0.2	TACT
SRCE	0.0	0.87	-0.05		0.5	SRCE
STEL	0.0	0.49	0.2	0.5		STEL
	TCHC	PTEC	TACT	SRCE	STEL

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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

SRCE	+ 0.87	PTEC
STEL	+ 0.5	SRCE
STEL	+ 0.49	PTEC
STEL	+ 0.2	TACT
PTEC	+ 0.0	TCHC
TACT	+ 0.0	TCHC

High negative correlations

SRCE	- 0.05	TACT
TACT	- 0.04	PTEC
STEL	- 0.0	TCHC
SRCE	- 0.0	TCHC
TACT	- 0.0	TCHC
PTEC	- 0.0	TCHC

Cabana Target Constituents Risk-Adjusted Indicators

There is a big difference between Cabana Etf performing well and Cabana Target 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 Cabana Target'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
TCHC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PTEC	1.07	(0.02)	0.02	0.06	1.31	(1.22)	2.49	(2.16)	6.50
TACT	1.66	(0.06)	0.00	(0.10)	0.00	0.00	3.33	(3.55)	10.91
SRCE	1.19	0.02	0.00	(0.02)	0.00	0.00	2.77	(2.95)	11.24
STEL	1.14	(0.18)	0.00	0.84	0.00	0.00	2.26	(3.10)	7.75

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