Vident International Correlations

VIDI Etf

USD 26.73 0.06 0.22%

The current 90-days correlation between Vident International and Vident Core Equity is 0.64 (i.e., Poor diversification). The correlation of Vident International 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 International Correlation With Market

Very weak diversification

The correlation between Vident International Equity and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Vident International Equity 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 International Equity. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Vident Etf

0.94	EFV	iShares MSCI EAFE	Pair Corr
0.98	FNDF	Schwab Fundamental	Pair Corr
0.98	VYMI	Vanguard International	Pair Corr
0.95	IDV	iShares International	Pair Corr
0.97	DFIV	Dimensional International	Pair Corr
0.96	IVLU	iShares Edge MSCI	Pair Corr
0.97	RODM	Hartford Multifactor	Pair Corr
0.98	PXF	Invesco FTSE RAFI	Pair Corr
0.96	HDEF	Xtrackers MSCI EAFE	Pair Corr
0.93	PID	Invesco International	Pair Corr
0.91	BABX	GraniteShares 175x Long	Pair Corr
0.92	GDXU	MicroSectors Gold Miners	Pair Corr
0.95	XPP	ProShares Ultra FTSE	Pair Corr
0.92	JNUG	Direxion Daily Junior	Pair Corr
0.75	TRV	The Travelers Companies	Pair Corr
0.77	MMM	3M Company	Pair Corr
0.76	IBM	International Business	Pair Corr
0.71	INTC	Intel Sell-off Trend	Pair Corr
0.73	CVX	Chevron Corp	Pair Corr
0.65	CSCO	Cisco Systems	Pair Corr
0.85	KO	Coca Cola Sell-off Trend	Pair Corr
0.72	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Moving against Vident Etf

0.49	WTID	UBS ETRACS Upward Rally	Pair Corr
0.44	BAC	Bank of America Aggressive Push	Pair Corr
0.62	MRK	Merck Company	Pair Corr
0.6	DIS	Walt Disney	Pair Corr
0.58	AA	Alcoa Corp	Pair Corr
0.54	CAT	Caterpillar	Pair Corr
0.52	HPQ	HP Inc	Pair Corr
0.5	AXP	American Express	Pair Corr

Related Correlations Analysis

	VUSE	VBND	CRBN	ZFM	IFV
VUSE		-0.27	0.91	-0.12	-0.24	VUSE
VBND	-0.27		0.03	0.93	0.86	VBND
CRBN	0.91	0.03		0.14	0.14	CRBN
ZFM	-0.12	0.93	0.14		0.83	ZFM
IFV	-0.24	0.86	0.14	0.83		IFV
	VUSE	VBND	CRBN	ZFM	IFV

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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

ZFM	+ 0.93	VBND
CRBN	+ 0.91	VUSE
IFV	+ 0.86	VBND
IFV	+ 0.83	ZFM
ZFM	+ 0.14	CRBN
IFV	+ 0.14	CRBN

High negative correlations

VBND	- 0.27	VUSE
IFV	- 0.24	VUSE
ZFM	- 0.12	VUSE

Vident International Constituents Risk-Adjusted Indicators

There is a big difference between Vident Etf performing well and Vident International 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 International'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
VUSE	0.81	(0.07)	0.00	(0.07)	0.00	0.00	1.34	(1.91)	4.37
VBND	0.28	0.01	0.01	1.39	0.31	(0.30)	0.57	(0.58)	1.63
CRBN	0.71	(0.03)	0.00	(0.03)	0.00	0.00	1.39	(1.57)	4.45
ZFM	0.30	0.02	0.06	0.76	0.28	(0.38)	0.68	(0.67)	1.78
IFV	0.57	0.06	0.06	0.13	0.80	(0.57)	1.24	(1.12)	4.57

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