Vident Core Correlations

VBND Etf

USD 43.65 0.05 0.11%

The current 90-days correlation between Vident Core Bond and Vident Core Equity is 0.12 (i.e., Average diversification). The correlation of Vident Core 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.

Vident Core Correlation With Market

Average diversification

The correlation between Vident Core Bond and DJI is 0.13 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vident Core Bond 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 Vident Core Bond. 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 Vident Etf

0.99	IUSB	iShares Core Total Sell-off Trend	Pair Corr
0.99	FIXD	First Trust TCW	Pair Corr
0.99	FBND	Fidelity Total Bond Sell-off Trend	Pair Corr
0.98	TOTL	SPDR DoubleLine Total	Pair Corr
0.91	HTRB	Hartford Total Return	Pair Corr
0.99	GTO	Invesco Total Return	Pair Corr
0.91	EUSB	iShares Trust	Pair Corr
0.91	JCPB	JPMorgan Core Plus	Pair Corr
0.99	CGCP	Capital Group Core	Pair Corr
0.66	MLPR	ETRACS Quarterly Pay	Pair Corr
0.7	T	ATT Inc Earnings Call This Week	Pair Corr
0.69	TRV	The Travelers Companies	Pair Corr
0.77	VZ	Verizon Communications	Pair Corr
0.68	KO	Coca Cola	Pair Corr
0.75	PG	Procter Gamble	Pair Corr

Moving against Vident Etf

0.67	USD	ProShares Ultra Semi	Pair Corr
0.53	CAT	Caterpillar	Pair Corr
0.52	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.51	FNGO	MicroSectors FANG Index	Pair Corr
0.48	HPQ	HP Inc	Pair Corr
0.47	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.56	AA	Alcoa Corp	Pair Corr
0.53	AXP	American Express Sell-off Trend	Pair Corr
0.48	MSFT	Microsoft	Pair Corr
0.39	HD	Home Depot	Pair Corr
0.32	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

Vident Core Competition Risk-Adjusted Indicators

There is a big difference between Vident Etf performing well and Vident Core 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 Vident Core'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
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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