Bank Of Montreal Correlations
| BNKD Etf | USD 18.23 0.00 0.00% |
The current 90-days correlation between Bank Of Montreal and Bank Of Montreal is 0.41 (i.e., Very weak diversification). The correlation of Bank Of Montreal 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.
Bank Of Montreal Correlation With Market
Good diversification
The correlation between Bank Of Montreal and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank Of Montreal and DJI in the same portfolio, assuming nothing else is changed.
Bank |
Moving together with Bank Etf
| 0.72 | RWM | ProShares Short Russ | PairCorr |
| 0.64 | DOG | ProShares Short Dow30 Potential Growth | PairCorr |
| 0.74 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.65 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.74 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
Moving against Bank Etf
| 0.73 | VB | Vanguard Small Cap | PairCorr |
| 0.67 | VO | Vanguard Mid Cap | PairCorr |
| 0.64 | VTI | Vanguard Total Stock | PairCorr |
| 0.63 | VUG | Vanguard Growth Index | PairCorr |
| 0.6 | SPY | SPDR SP 500 Aggressive Push | PairCorr |
| 0.6 | IVV | iShares Core SP | PairCorr |
| 0.56 | VTV | Vanguard Value Index | PairCorr |
| 0.81 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.7 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.69 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.62 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
| 0.55 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.54 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.43 | HD | Home Depot | PairCorr |
| 0.34 | HPQ | HP Inc | PairCorr |
Related Correlations Analysis
| -0.1 | -0.66 | -0.66 | -0.62 | NRGD | ||
| -0.1 | -0.42 | -0.53 | -0.57 | BNKU | ||
| -0.66 | -0.42 | 0.91 | 0.9 | HIBS | ||
| -0.66 | -0.53 | 0.91 | 0.98 | FNGD | ||
| -0.62 | -0.57 | 0.9 | 0.98 | WEBS | ||
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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
| High negative correlations
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Bank Of Montreal Constituents Risk-Adjusted Indicators
There is a big difference between Bank Etf performing well and Bank Of Montreal 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 Bank Of Montreal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| NRGD | 2.23 | 0.38 | 0.07 | (0.89) | 2.55 | 5.46 | 19.02 | |||
| BNKU | 2.19 | 0.28 | 0.06 | 2.25 | 2.49 | 4.63 | 11.11 | |||
| HIBS | 2.90 | 0.08 | 0.00 | 0.11 | 0.00 | 5.93 | 21.82 | |||
| FNGD | 2.93 | (0.19) | 0.00 | 0.19 | 0.00 | 8.37 | 21.85 | |||
| WEBS | 2.22 | (0.48) | 0.00 | 0.29 | 0.00 | 5.06 | 16.49 |
Bank Of Montreal Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Bank Of Montreal etf to make a market-neutral strategy. Peer analysis of Bank Of Montreal could also be used in its relative valuation, which is a method of valuing Bank Of Montreal by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |