United States Correlations

UNG Etf

USD 20.84 0.33 1.56%

The current 90-days correlation between United States Natural and Invesco DB Agriculture is 0.05 (i.e., Significant diversification). The correlation of United States 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.

United States Correlation With Market

Good diversification

The correlation between United States Natural and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United States Natural 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 United States Natural. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with United Etf

0.81	GLD	SPDR Gold Shares	Pair Corr
0.81	IAU	iShares Gold Trust	Pair Corr
0.75	SLV	iShares Silver Trust Potential Growth	Pair Corr
0.81	GLDM	SPDR Gold MiniShares	Pair Corr
0.81	SGOL	abrdn Physical Gold	Pair Corr
0.79	GLTR	abrdn Physical Precious	Pair Corr
0.75	SIVR	abrdn Physical Silver Potential Growth	Pair Corr
0.81	IAUM	iShares Gold Trust	Pair Corr
0.8	T	ATT Inc Earnings Call Today	Pair Corr
0.65	MCD	McDonalds	Pair Corr
0.67	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.61	MMM	3M Company	Pair Corr
0.86	JNJ	Johnson Johnson	Pair Corr
0.78	VZ	Verizon Communications	Pair Corr
0.63	IBM	International Business	Pair Corr
0.62	GE	GE Aerospace	Pair Corr

Moving against United Etf

0.78	NAIL	Direxion Daily Homeb Downward Rally	Pair Corr
0.72	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.7	TECL	Direxion Daily Technology	Pair Corr
0.69	FNGO	MicroSectors FANG Index	Pair Corr
0.63	USD	ProShares Ultra Semi	Pair Corr
0.6	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.59	SPXL	Direxion Daily SP500 Sell-off Trend	Pair Corr
0.58	UPRO	ProShares UltraPro SP500	Pair Corr
0.38	DUSL	Direxion Daily Indus	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr
0.66	CAT	Caterpillar	Pair Corr
0.56	AXP	American Express Sell-off Trend	Pair Corr
0.54	HPQ	HP Inc	Pair Corr
0.5	MRK	Merck Company	Pair Corr
0.45	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		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	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

United States Competition Risk-Adjusted Indicators

There is a big difference between United Etf performing well and United States 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 United States' 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	1.59	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

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