VanEck CEF Correlations

XMPT Etf

USD 21.75 0.10 0.46%

The current 90-days correlation between VanEck CEF Municipal and VanEck Long Muni is 0.69 (i.e., Poor diversification). The correlation of VanEck CEF 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.

VanEck CEF Correlation With Market

Significant diversification

The correlation between VanEck CEF Municipal and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck CEF Municipal 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 VanEck CEF Municipal. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with VanEck Etf

0.82	HYD	VanEck High Yield	Pair Corr
0.88	SHYD	VanEck Short High	Pair Corr
0.92	FMHI	First Trust Municipal	Pair Corr
0.81	FLMI	Franklin Liberty Int	Pair Corr
0.67	FXY	Invesco CurrencyShares	Pair Corr
0.61	PMBS	PIMCO Mortgage Backed	Pair Corr
0.73	JMST	JPMorgan Ultra Short	Pair Corr
0.62	EEMX	SPDR MSCI Emerging	Pair Corr
0.74	MLPB	UBS AG London	Pair Corr
0.72	SPIB	SPDR Barclays Interm	Pair Corr
0.76	ACWV	iShares MSCI Global	Pair Corr
0.74	LIAE	Stone Ridge 2050	Pair Corr
0.78	GHMS	Goose Hollow Multi	Pair Corr

Moving against VanEck Etf

0.75	AMPD	Tidal Trust II	Pair Corr
0.4	WGMI	Valkyrie Bitcoin Miners	Pair Corr

Related Correlations Analysis

	MLN	SHYD	HYMB	HYD	SMB
MLN		0.41	0.66	0.64	0.3	MLN
SHYD	0.41		0.91	0.83	0.89	SHYD
HYMB	0.66	0.91		0.91	0.8	HYMB
HYD	0.64	0.83	0.91		0.85	HYD
SMB	0.3	0.89	0.8	0.85		SMB
	MLN	SHYD	HYMB	HYD	SMB

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VanEck CEF Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck CEF 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 VanEck CEF'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
MLN	0.29	(0.02)	0.00	(0.36)	0.00	0.00	0.57	(0.63)	1.42
SHYD	0.20	0.02	0.35	0.27	0.12	(0.24)	0.40	(0.35)	0.98
HYMB	0.23	0.02	0.24	0.22	0.27	(0.24)	0.47	(0.47)	1.49
HYD	0.20	0.02	0.25	0.39	0.23	(0.20)	0.44	(0.52)	1.40
SMB	0.08	0.01	0.47	(0.60)	0.00	(0.10)	0.18	(0.17)	0.70

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