2023 EFT Correlations

BUSA Etf

33.93 0.02 0.06%

The current 90-days correlation between 2023 EFT Series and FT Vest Equity is 0.55 (i.e., Very weak diversification). The correlation of 2023 EFT 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.

2023 EFT Correlation With Market

Almost no diversification

The correlation between 2023 EFT Series and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 2023 EFT Series 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 2023 EFT Series. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with 2023 Etf

0.94	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.84	VYM	Vanguard High Dividend	Pair Corr
0.97	IWD	iShares Russell 1000	Pair Corr
0.91	DGRO	iShares Core Dividend Sell-off Trend	Pair Corr
0.96	DVY	iShares Select Dividend	Pair Corr
0.97	IUSV	iShares Core SP	Pair Corr
0.68	NOBL	ProShares SP 500	Pair Corr
0.84	XOP	SPDR SP Oil	Pair Corr
0.93	IYC	iShares Consumer Dis	Pair Corr
0.94	VTI	Vanguard Total Stock	Pair Corr
0.87	VBK	Vanguard Small Cap	Pair Corr
0.68	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.77	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.64	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.73	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.82	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Moving against 2023 Etf

0.61	KO	Coca Cola Sell-off Trend	Pair Corr
0.57	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.55	0.02	0.55	0.04	0.64	0.28	-0.53	0.72	META
MSFT	0.27		0.22	0.17	0.18	-0.01	0.03	-0.12	0.12	-0.19	MSFT
UBER	0.55	0.22		-0.08	-0.06	0.27	-0.01	-0.14	0.08	0.35	UBER
F	0.02	0.17	-0.08		0.16	-0.49	0.42	0.61	-0.31	0.2	F
T	0.55	0.18	-0.06	0.16		-0.5	0.79	0.6	-0.78	0.38	T
A	0.04	-0.01	0.27	-0.49	-0.5		-0.47	-0.62	0.64	-0.01	A
CRM	0.64	0.03	-0.01	0.42	0.79	-0.47		0.85	-0.91	0.65	CRM
JPM	0.28	-0.12	-0.14	0.61	0.6	-0.62	0.85		-0.83	0.48	JPM
MRK	-0.53	0.12	0.08	-0.31	-0.78	0.64	-0.91	-0.83		-0.56	MRK
XOM	0.72	-0.19	0.35	0.2	0.38	-0.01	0.65	0.48	-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	+ 0.85	CRM
CRM	+ 0.79	T
XOM	+ 0.72	META
XOM	+ 0.65	CRM
CRM	+ 0.64	META
MRK	+ 0.64	A

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.62	A
XOM	- 0.56	MRK
MRK	- 0.53	META

2023 EFT Competition Risk-Adjusted Indicators

There is a big difference between 2023 Etf performing well and 2023 EFT 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 2023 EFT'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	1.06	0.06	0.02	0.20	1.40	(1.15)	2.62	(3.15)	8.02
MSFT	0.92	(0.05)	(0.05)	0.05	1.49	(0.89)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.30	(1.74)	2.69	(2.53)	20.10
F	1.43	0.02	(0.04)	0.48	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.28	0.15	(7.88)	0.85	(1.05)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.05)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.34	0.21	0.16	0.30	1.16	(1.53)	3.18	(1.93)	9.09
JPM	1.12	(0.01)	0.06	0.11	1.40	(1.21)	2.05	(2.00)	15.87
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.01	(0.05)	(0.08)	0.02	1.33	(1.07)	2.10	(2.09)	5.74

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