Saba Capital Correlations

BRW Etf

USD 7.84 0.07 0.90%

The current 90-days correlation between Saba Capital Income and Federated Premier Municipal is 0.01 (i.e., Significant diversification). The correlation of Saba Capital 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.

Saba Capital Correlation With Market

Average diversification

The correlation between Saba Capital Income and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Saba Capital Income and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Saba Capital Income. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Saba Etf

0.93	ARKW	ARK Next Generation	Pair Corr
0.68	WTMF	WisdomTree Managed	Pair Corr
0.82	EWC	iShares MSCI Canada	Pair Corr
0.77	BST	BlackRock Science Tech	Pair Corr
0.91	BTC	Grayscale Bitcoin Mini	Pair Corr
0.84	HHH	Howard Hughes	Pair Corr
0.8	QYLD	Global X NASDAQ	Pair Corr
0.79	XLE	Energy Select Sector	Pair Corr
0.96	ARKQ	ARK Autonomous Technology Low Volatility	Pair Corr
0.74	MDIV	First Trust Multi	Pair Corr
0.82	VGT	Vanguard Information	Pair Corr
0.86	VONG	Vanguard Russell 1000	Pair Corr
0.88	JBBB	Janus Detroit Street	Pair Corr
0.74	NBFC	Neuberger Berman ETF	Pair Corr
0.92	XHLF	Bondbloxx ETF Trust	Pair Corr
0.85	VYM	Vanguard High Dividend	Pair Corr
0.85	ETH	Grayscale Ethereum Mini	Pair Corr
0.87	TGRW	T Rowe Price	Pair Corr
0.86	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.88	SCHB	Schwab Broad Market	Pair Corr
0.88	ITOT	iShares Core SP	Pair Corr
0.83	QQEW	First Trust NASDAQ	Pair Corr
0.86	SCHD	Schwab Dividend Equity	Pair Corr
0.87	SMCF	Themes Small Cap	Pair Corr
0.83	BXMX	Nuveen SP 500	Pair Corr
0.86	DDM	ProShares Ultra Dow30	Pair Corr

Moving against Saba Etf

0.52	IRET	Tidal Trust II	Pair Corr
0.43	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.41	TSLQ	AXS TSLA Bear Trending	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

Saba Capital Competition Risk-Adjusted Indicators

There is a big difference between Saba Etf performing well and Saba Capital 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 Saba Capital'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
META	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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