Texas Capital Correlations

TXS Etf

31.33 0.15 0.48%

The current 90-days correlation between Texas Capital Funds and Strategy Shares is 0.59 (i.e., Very weak diversification). The correlation of Texas Capital 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.

Texas Capital Correlation With Market

Poor diversification

The correlation between Texas Capital Funds and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Texas Capital 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 Texas Capital 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 interest.

Moving together with Texas Etf

0.91	VO	Vanguard Mid Cap	Pair Corr
0.98	VXF	Vanguard Extended Market	Pair Corr
0.99	IJH	iShares Core SP	Pair Corr
0.95	IWR	iShares Russell Mid	Pair Corr
0.99	MDY	SPDR SP MIDCAP	Pair Corr
0.95	FV	First Trust Dorsey	Pair Corr
0.99	IVOO	Vanguard SP Mid	Pair Corr
0.97	JHMM	John Hancock Multifactor	Pair Corr
0.98	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.98	XMMO	Invesco SP MidCap	Pair Corr
0.85	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.71	BA	Boeing	Pair Corr
0.78	MSFT	Microsoft	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.88	HD	Home Depot	Pair Corr
0.71	DIS	Walt Disney	Pair Corr
0.91	BAC	Bank of America	Pair Corr
0.79	CAT	Caterpillar	Pair Corr
0.75	AA	Alcoa Corp	Pair Corr
0.61	JPM	JPMorgan Chase	Pair Corr

Moving against Texas Etf

0.7	PMBS	PIMCO Mortgage Backed	Pair Corr
0.65	FXY	Invesco CurrencyShares	Pair Corr
0.53	AMPD	Tidal Trust II	Pair Corr
0.41	GDXU	MicroSectors Gold Miners	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr
0.67	JNJ	Johnson Johnson	Pair Corr
0.65	KO	Coca Cola	Pair Corr
0.6	MCD	McDonalds	Pair Corr
0.58	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.13	-0.07	-0.02	0.11	-0.02	-0.1	-0.03	-0.08	DHSB
MBOX	-0.13		0.37	0.16	-0.29	0.42	0.92	0.37	0.85	MBOX
DIEM	-0.07	0.37		0.85	0.11	-0.35	0.52	0.76	0.63	DIEM
MCHI	-0.02	0.16	0.85		0.46	-0.53	0.46	0.92	0.59	MCHI
DIPS	0.11	-0.29	0.11	0.46		-0.53	-0.04	0.51	0.08	DIPS
DISO	-0.02	0.42	-0.35	-0.53	-0.53		0.27	-0.49	0.08	DISO
DIVB	-0.1	0.92	0.52	0.46	-0.04	0.27		0.63	0.95	DIVB
DIVD	-0.03	0.37	0.76	0.92	0.51	-0.49	0.63		0.74	DIVD
DIVG	-0.08	0.85	0.63	0.59	0.08	0.08	0.95	0.74		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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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

DIVG	+ 0.95	DIVB
DIVB	+ 0.92	MBOX
DIVD	+ 0.92	MCHI
DIVG	+ 0.85	MBOX
MCHI	+ 0.85	DIEM
DIVD	+ 0.76	DIEM

High negative correlations

DISO	- 0.53	DIPS
DISO	- 0.53	MCHI
DIVD	- 0.49	DISO
DISO	- 0.35	DIEM
DIPS	- 0.29	MBOX
MBOX	- 0.13	DHSB

Texas Capital Constituents Risk-Adjusted Indicators

There is a big difference between Texas Etf performing well and Texas Capital 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 Texas Capital'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
DHSB	0.37	(0.08)	0.00	(0.48)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.69	0.00	0.00	(0.07)	0.00	0.00	1.08	(1.40)	3.06
DIEM	0.69	0.05	0.09	0.04	0.86	(0.76)	1.43	(1.89)	4.39
MCHI	1.38	0.27	0.20	0.70	1.42	(1.60)	2.63	(2.72)	7.91
DIPS	2.24	0.08	0.08	(0.14)	2.73	(2.40)	5.35	(4.43)	23.78
DISO	0.91	(0.11)	0.00	(0.23)	0.00	0.00	1.47	(2.12)	6.61
DIVB	0.65	0.03	0.00	(0.03)	0.00	0.00	1.15	(1.40)	3.13
DIVD	0.60	0.14	0.23	0.21	0.65	(0.68)	1.39	(0.99)	3.39
DIVG	0.60	0.03	0.08	(0.02)	0.76	(0.62)	1.23	(1.18)	3.05

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