Vident International Correlations
VIDI Etf | USD 25.72 0.21 0.81% |
The current 90-days correlation between Vident International and Vident Core Equity is 0.51 (i.e., Very weak 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
Significant diversification
The correlation between Vident International Equity and DJI is 0.03 (i.e., Significant 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.
Vident |
Moving together with Vident Etf
0.95 | EFV | iShares MSCI EAFE Low Volatility | PairCorr |
0.93 | FNDF | Schwab Fundamental | PairCorr |
0.93 | VYMI | Vanguard International | PairCorr |
0.95 | IDV | iShares International Low Volatility | PairCorr |
0.9 | DFIV | Dimensional International | PairCorr |
0.91 | IVLU | iShares Edge MSCI | PairCorr |
0.96 | RODM | Hartford Multifactor | PairCorr |
0.96 | PXF | Invesco FTSE RAFI | PairCorr |
0.94 | HDEF | Xtrackers MSCI EAFE | PairCorr |
0.74 | PID | Invesco International | PairCorr |
0.69 | WMT | Walmart Aggressive Push | PairCorr |
0.87 | T | ATT Inc Aggressive Push | PairCorr |
0.79 | KO | Coca Cola Aggressive Push | PairCorr |
0.74 | JPM | JPMorgan Chase | PairCorr |
0.78 | GE | GE Aerospace | PairCorr |
0.82 | IBM | International Business | PairCorr |
0.75 | MCD | McDonalds | PairCorr |
0.68 | MMM | 3M Company | PairCorr |
0.78 | JNJ | Johnson Johnson | PairCorr |
Moving against Vident Etf
0.47 | URNM | Sprott Uranium Miners | PairCorr |
0.34 | USD | ProShares Ultra Semi | PairCorr |
0.76 | MRK | Merck Company Aggressive Push | PairCorr |
Related Correlations Analysis
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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 | 0.65 | (0.02) | 0.05 | 0.07 | 0.93 | 1.28 | 3.98 | |||
VBND | 0.29 | 0.03 | 0.24 | 0.41 | 0.25 | 0.81 | 1.75 | |||
CRBN | 0.55 | 0.03 | 0.06 | (0.01) | 0.85 | 1.06 | 3.42 | |||
ZFM | 0.31 | 0.06 | 0.32 | 0.48 | 0.17 | 0.81 | 1.78 | |||
IFV | 0.60 | 0.04 | 0.08 | 0.05 | 0.84 | 1.21 | 4.20 |