REX VolMAXX Correlations

VMAX Etf   46.50  0.60  1.27%   
The current 90-days correlation between REX VolMAXX Long and FT Vest Equity is 0.65 (i.e., Poor diversification). The correlation of REX VolMAXX 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. If the correlation is 0, the equities are not correlated; they are entirely random.

REX VolMAXX Correlation With Market

Very weak diversification

The correlation between REX VolMAXX Long and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding REX VolMAXX Long 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 REX VolMAXX Long. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with REX Etf

  0.63VTV Vanguard Value IndexPairCorr
  0.74VYM Vanguard High DividendPairCorr
  0.81DVY iShares Select DividendPairCorr
  0.73GE GE AerospacePairCorr
  0.63AXP American ExpressPairCorr
  0.66WMT WalmartPairCorr
  0.7BA BoeingPairCorr
  0.88JPM JPMorgan ChasePairCorr
  0.62CSCO Cisco SystemsPairCorr
  0.69MMM 3M CompanyPairCorr

Moving against REX Etf

  0.48WTID UBS ETRACSPairCorr
  0.62MRK Merck CompanyPairCorr

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   
DJUNDJUL
VVDJUL
VVDJUN
DJULDHDG
VVDHDG
DJUNDHDG
  
High negative correlations   
VVSH
SHDJUN
SHDJUL
SHDHDG
SHDJAN
SHMBCC

REX VolMAXX Constituents Risk-Adjusted Indicators

There is a big difference between REX Etf performing well and REX VolMAXX 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 REX VolMAXX'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.