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.
  
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

  0.95EFV iShares MSCI EAFE Low VolatilityPairCorr
  0.93FNDF Schwab FundamentalPairCorr
  0.93VYMI Vanguard InternationalPairCorr
  0.95IDV iShares International Low VolatilityPairCorr
  0.9DFIV Dimensional InternationalPairCorr
  0.91IVLU iShares Edge MSCIPairCorr
  0.96RODM Hartford MultifactorPairCorr
  0.96PXF Invesco FTSE RAFIPairCorr
  0.94HDEF Xtrackers MSCI EAFEPairCorr
  0.74PID Invesco InternationalPairCorr
  0.69WMT Walmart Aggressive PushPairCorr
  0.87T ATT Inc Aggressive PushPairCorr
  0.79KO Coca Cola Aggressive PushPairCorr
  0.74JPM JPMorgan ChasePairCorr
  0.78GE GE AerospacePairCorr
  0.82IBM International BusinessPairCorr
  0.75MCD McDonaldsPairCorr
  0.68MMM 3M CompanyPairCorr
  0.78JNJ Johnson JohnsonPairCorr

Moving against Vident Etf

  0.47URNM Sprott Uranium MinersPairCorr
  0.34USD ProShares Ultra SemiPairCorr
  0.76MRK Merck Company Aggressive PushPairCorr

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.