Elkhorn Correlations

A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Elkhorn moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Elkhorn moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

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Related Correlations Analysis

	BILL	GTLB	MNDY	DDOG	FROG	BL	MANH	AZPN	DV	ANSS
BILL		0.34	-0.43	0.86	-0.5	0.9	0.81	-0.67	0.41	0.81	BILL
GTLB	0.34		0.46	0.43	0.55	0.36	-0.07	0.29	0.7	0.65	GTLB
MNDY	-0.43	0.46		-0.11	0.69	-0.29	-0.47	0.59	0.38	-0.06	MNDY
DDOG	0.86	0.43	-0.11		-0.45	0.9	0.78	-0.6	0.58	0.73	DDOG
FROG	-0.5	0.55	0.69	-0.45		-0.5	-0.74	0.8	0.26	-0.04	FROG
BL	0.9	0.36	-0.29	0.9	-0.5		0.72	-0.53	0.44	0.74	BL
MANH	0.81	-0.07	-0.47	0.78	-0.74	0.72		-0.92	0.21	0.57	MANH
AZPN	-0.67	0.29	0.59	-0.6	0.8	-0.53	-0.92		-0.04	-0.34	AZPN
DV	0.41	0.7	0.38	0.58	0.26	0.44	0.21	-0.04		0.62	DV
ANSS	0.81	0.65	-0.06	0.73	-0.04	0.74	0.57	-0.34	0.62		ANSS
	BILL	GTLB	MNDY	DDOG	FROG	BL	MANH	AZPN	DV	ANSS

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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

BL	+ 0.9	BILL
BL	+ 0.9	DDOG
DDOG	+ 0.86	BILL
MANH	+ 0.81	BILL
ANSS	+ 0.81	BILL
AZPN	+ 0.8	FROG

High negative correlations

AZPN	- 0.92	MANH
MANH	- 0.74	FROG
AZPN	- 0.67	BILL
AZPN	- 0.6	DDOG
AZPN	- 0.53	BL
BL	- 0.5	FROG

Elkhorn Constituents Risk-Adjusted Indicators

There is a big difference between Elkhorn Etf performing well and Elkhorn 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 Elkhorn'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
BILL	2.76	(0.70)	0.00	(0.40)	0.00	0.00	4.99	(6.58)	41.32
GTLB	2.95	(0.18)	0.00	(0.25)	0.00	0.00	6.71	(5.73)	21.90
MNDY	3.13	0.10	0.00	(0.06)	0.00	0.00	6.35	(7.61)	35.81
DDOG	1.86	(0.65)	0.00	(0.91)	0.00	0.00	2.66	(4.42)	15.08
FROG	1.79	0.21	0.12	0.16	1.95	(2.17)	4.07	(3.06)	11.31
BL	1.58	(0.25)	0.00	(0.39)	0.00	0.00	2.60	(3.10)	23.23
MANH	2.09	(0.67)	0.00	(0.77)	0.00	0.00	3.03	(3.98)	27.65
AZPN	0.51	0.08	0.23	1.13	0.65	(0.59)	1.12	(0.87)	6.87
DV	2.17	(0.45)	0.00	1.12	0.00	0.00	3.85	(3.23)	40.25
ANSS	0.86	(0.04)	0.00	(0.19)	0.00	0.00	1.55	(2.14)	5.76

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Elkhorn Correlations

Related Correlations Analysis

Correlation Matchups

Elkhorn Constituents Risk-Adjusted Indicators

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