WBI Power Correlations

WBIY Etf

USD 30.37 0.01 0.03%

The current 90-days correlation between WBI Power Factor and Franklin Templeton ETF is 0.26 (i.e., Modest diversification). The correlation of WBI Power 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.

WBI Power Correlation With Market

Weak diversification

The correlation between WBI Power Factor and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding WBI Power Factor and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in WBI Power Factor. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with WBI Etf

0.98	VOE	Vanguard Mid Cap	Pair Corr
0.91	SDY	SPDR SP Dividend	Pair Corr
0.93	IWS	iShares Russell Mid	Pair Corr
0.97	SPYD	SPDR Portfolio SP	Pair Corr
0.91	COWZ	Pacer Cash Cows	Pair Corr
0.8	IJJ	iShares SP Mid	Pair Corr
0.88	DON	WisdomTree MidCap	Pair Corr
0.75	RPV	Invesco SP 500	Pair Corr
0.96	PEY	Invesco High Yield	Pair Corr
0.84	PKW	Invesco BuyBack Achievers	Pair Corr
0.67	URNM	Sprott Uranium Miners	Pair Corr

Moving against WBI Etf

0.44	FNGS	MicroSectors FANG ETN	Pair Corr
0.41	FNGO	MicroSectors FANG Index	Pair Corr
0.4	FNGU	MicroSectors FANG Index	Pair Corr
0.71	FBGX	UBS	Pair Corr
0.5	TFLO	iShares Treasury Floating	Pair Corr
0.47	YEAR	AB Ultra Short	Pair Corr
0.44	JAAA	Janus Detroit Street	Pair Corr
0.39	XDEC	First Trust Exchange	Pair Corr
0.36	STK	Columbia Seligman Premium	Pair Corr
0.31	GDXD	MicroSectors Gold Miners	Pair Corr
0.53	ICSH	iShares Ultra Short	Pair Corr
0.53	BILS	SPDR Series Trust	Pair Corr
0.51	GSG	iShares SP GSCI	Pair Corr
0.48	QYLD	Global X NASDAQ	Pair Corr
0.38	FLDR	Fidelity Low Duration	Pair Corr
0.36	BCD	abrdn Bloomberg All	Pair Corr

Related Correlations Analysis

	DIEM	DIVD	DIVG	DIVI	DIVL	DIVO	DIVP	DIVY	MDPL
DIEM		0.73	0.29	0.9	0.34	0.05	0.45	0.51	0.4	DIEM
DIVD	0.73		0.76	0.85	0.78	0.39	0.89	0.77	0.8	DIVD
DIVG	0.29	0.76		0.41	0.99	0.8	0.97	0.84	0.96	DIVG
DIVI	0.9	0.85	0.41		0.46	0.15	0.59	0.62	0.52	DIVI
DIVL	0.34	0.78	0.99	0.46		0.82	0.97	0.84	0.96	DIVL
DIVO	0.05	0.39	0.8	0.15	0.82		0.69	0.73	0.77	DIVO
DIVP	0.45	0.89	0.97	0.59	0.97	0.69		0.85	0.95	DIVP
DIVY	0.51	0.77	0.84	0.62	0.84	0.73	0.85		0.87	DIVY
MDPL	0.4	0.8	0.96	0.52	0.96	0.77	0.95	0.87		MDPL
	DIEM	DIVD	DIVG	DIVI	DIVL	DIVO	DIVP	DIVY	MDPL

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

WBI Power Constituents Risk-Adjusted Indicators

There is a big difference between WBI Etf performing well and WBI Power 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 WBI Power'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
DIEM	0.64	(0.10)	0.00	(0.33)	0.00	0.00	1.32	(1.96)	5.07
DIVD	0.48	(0.08)	0.00	(0.32)	0.00	0.00	0.72	(0.98)	3.36
DIVG	0.56	(0.02)	0.00	(0.06)	0.00	0.00	1.12	(1.12)	4.32
DIVI	0.57	(0.10)	0.00	(0.53)	0.00	0.00	1.13	(1.48)	3.80
DIVL	0.54	(0.02)	0.00	(0.06)	0.00	0.00	1.12	(0.97)	4.62
DIVO	0.46	(0.01)	(0.03)	0.00	0.59	(0.51)	0.94	(0.70)	4.86
DIVP	0.50	(0.04)	0.00	(0.13)	0.00	0.00	0.84	(0.93)	3.98
DIVY	0.58	(0.04)	0.00	(0.38)	0.00	0.00	1.18	(1.22)	5.22
MDPL	0.58	(0.09)	0.00	(0.29)	0.00	0.00	0.99	(1.40)	4.90

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC