United States Correlations

Etfs . USA . 
Etf . United States Commodity
USCI Etf  USD 69.47  0.02  0.03%   
The current 90-days correlation between United States Commodity and KraneShares Bosera MSCI is -0.05 (i.e., Good 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

Significant diversification

The correlation between United States Commodity and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United States Commodity 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 Commodity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with United Etf

  0.92PDBC Invesco Optimum YieldPairCorr
  0.96FTGC First Trust GlobalPairCorr
  0.92DBC Invesco DB CommodityPairCorr
  0.89COMT iShares GSCI CommodityPairCorr
  0.89GSG iShares SP GSCIPairCorr
  0.96DJP iPath Bloomberg CommodityPairCorr
  0.96BCI abrdn Bloomberg AllPairCorr
  0.96CMDY iShares Bloomberg RollPairCorr
  0.96COMB GraniteShares BloombergPairCorr
  0.93GCC WisdomTree ContinuousPairCorr
  0.71BST BlackRock Science TechPairCorr
  0.61KO Coca ColaPairCorr
  0.85CSCO Cisco SystemsPairCorr
  0.86MMM 3M CompanyPairCorr
  0.67T ATT Inc Aggressive PushPairCorr
  0.71IBM International Business Sell-off TrendPairCorr
  0.83JPM JPMorgan ChasePairCorr

Moving against United Etf

  0.56IRET iREIT MarketVectorPairCorr
  0.43WTMF WisdomTree ManagedPairCorr
  0.61DIS Walt DisneyPairCorr
  0.5TRV The Travelers CompaniesPairCorr
  0.47HPQ HP IncPairCorr
  0.32XOM Exxon Mobil CorpPairCorr

Related Correlations Analysis

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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   
DJP
+ 0.92
GCC
SYLD
+ 0.07
KBA
JJG
+ 0.0
KBA
JJG
+ 0.0
GCC
JJG
+ 0.0
DJP
JJG
+ 0.0
SYLD
  
High negative correlations   
SYLD
- 0.44
DJP
SYLD
- 0.34
GCC
GCC
- 0.05
KBA
DJP
- 0.01
KBA
JJG
- 0.0
SYLD
JJG
- 0.0
DJP

United States Constituents 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.

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