United States Correlations

Etfs . USA . 
Etf . United States Commodity
USCI Etf  USD 71.00  0.47  0.66%   
The current 90-days correlation between United States Commodity and KraneShares Bosera MSCI is -0.16 (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

  0.87PDBC Invesco Optimum YieldPairCorr
  0.95FTGC First Trust GlobalPairCorr
  0.86DBC Invesco DB CommodityPairCorr
  0.76COMT iShares GSCI CommodityPairCorr
  0.75GSG iShares SP GSCIPairCorr
  0.98DJP iPath Bloomberg CommodityPairCorr
  0.95BCI abrdn Bloomberg AllPairCorr
  0.95CMDY iShares Bloomberg RollPairCorr
  0.98COMB GraniteShares BloombergPairCorr
  0.84GCC WisdomTree ContinuousPairCorr
  0.67VTV Vanguard Value IndexPairCorr
  0.8VEA Vanguard FTSE DevelopedPairCorr
  0.84GDXU MicroSectors Gold MinersPairCorr
  0.65INTC Intel Sell-off TrendPairCorr
  0.68KO Coca ColaPairCorr
  0.74IBM International BusinessPairCorr
  0.74XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.73CSCO Cisco SystemsPairCorr
  0.84MMM 3M CompanyPairCorr

Moving against United Etf

  0.57MSFT Microsoft Aggressive PushPairCorr
  0.41AA Alcoa CorpPairCorr
  0.4DIS Walt DisneyPairCorr
  0.31CAT CaterpillarPairCorr

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
+ 0.77
GCC
DJP
+ 0.36
KBA
SYLD
+ 0.3
GCC
GCC
+ 0.07
KBA
JJG
+ 0.0
KBA
JJG
+ 0.0
GCC
  
High negative correlations   
SYLD
- 0.58
KBA
SYLD
- 0.26
DJP
JJG
- 0.0
SYLD
JJG
- 0.0
DJP
JJG
- 0.0
GCC
JJG
- 0.0
KBA

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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