Esoterica NextG Correlations
WUGI Etf | USD 69.25 0.03 0.04% |
The current 90-days correlation between Esoterica NextG Economy and First Trust NASDAQ is 0.81 (i.e., Very poor diversification). The correlation of Esoterica NextG 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.
Esoterica NextG Correlation With Market
Good diversification
The correlation between Esoterica NextG Economy and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Esoterica NextG Economy and DJI in the same portfolio, assuming nothing else is changed.
Esoterica |
Moving together with Esoterica Etf
0.9 | VGT | Vanguard Information | PairCorr |
0.92 | XLK | Technology Select Sector | PairCorr |
0.92 | IYW | iShares Technology ETF | PairCorr |
0.85 | SMH | VanEck Semiconductor ETF | PairCorr |
0.85 | SOXX | iShares Semiconductor ETF | PairCorr |
0.75 | CIBR | First Trust NASDAQ | PairCorr |
0.9 | FTEC | Fidelity MSCI Information | PairCorr |
0.96 | IGV | iShares Expanded Tech | PairCorr |
0.95 | FDN | First Trust Dow | PairCorr |
0.97 | IGM | iShares Expanded Tech | PairCorr |
0.96 | VTI | Vanguard Total Stock | PairCorr |
0.75 | GBTC | Grayscale Bitcoin Trust | PairCorr |
0.9 | VBK | Vanguard Small Cap | PairCorr |
0.79 | AXP | American Express | PairCorr |
0.8 | JPM | JPMorgan Chase | PairCorr |
0.76 | BAC | Bank of America | PairCorr |
0.7 | WMT | Walmart | PairCorr |
0.74 | BA | Boeing | PairCorr |
0.61 | HPQ | HP Inc | PairCorr |
Moving against Esoterica Etf
0.97 | FNGD | MicroSectors FANG Index | PairCorr |
0.49 | JPST | JPMorgan Ultra Short | PairCorr |
0.55 | TRV | The Travelers Companies | PairCorr |
0.49 | VZ | Verizon Communications | PairCorr |
0.45 | JNJ | Johnson Johnson | PairCorr |
0.42 | MRK | Merck Company | PairCorr |
0.33 | PG | Procter Gamble | PairCorr |
Related Correlations Analysis
0.45 | 0.46 | 0.31 | 0.55 | NXTG | ||
0.45 | 0.99 | 0.93 | 0.98 | BUYZ | ||
0.46 | 0.99 | 0.93 | 0.98 | LRNZ | ||
0.31 | 0.93 | 0.93 | 0.93 | LOUP | ||
0.55 | 0.98 | 0.98 | 0.93 | THNQ | ||
Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Esoterica NextG Constituents Risk-Adjusted Indicators
There is a big difference between Esoterica Etf performing well and Esoterica NextG 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 Esoterica NextG'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 | ||
---|---|---|---|---|---|---|---|---|---|---|
NXTG | 0.74 | 0.02 | 0.08 | (0.82) | 1.01 | 1.50 | 4.67 | |||
BUYZ | 1.12 | (0.12) | 0.00 | 0.55 | 0.00 | 1.92 | 6.46 | |||
LRNZ | 1.63 | (0.16) | 0.00 | 0.72 | 0.00 | 2.63 | 11.67 | |||
LOUP | 1.97 | (0.16) | 0.00 | 0.63 | 0.00 | 3.06 | 11.29 | |||
THNQ | 1.25 | (0.10) | 0.00 | 1.48 | 0.00 | 2.29 | 7.51 |