ETF Managers Correlations

BWET Etf

11.50 0.43 3.88%

The current 90-days correlation between ETF Managers Group and Okeanis Eco Tankers is 0.15 (i.e., Average diversification). The correlation of ETF Managers 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.

ETF Managers Correlation With Market

Significant diversification

The correlation between ETF Managers Group and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETF Managers Group 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 ETF Managers Group. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with ETF Etf

0.85

Coca Cola Sell-off Trend

Pair Corr

Moving against ETF Etf

0.75	ATMP	Barclays ETN Select Low Volatility	Pair Corr
0.7	YCS	ProShares UltraShort Yen	Pair Corr
0.67	SGG	Barclays Capital	Pair Corr
0.66	TBT	ProShares UltraShort	Pair Corr
0.6	AMZA	InfraCap MLP ETF	Pair Corr
0.53	MLPR	ETRACS Quarterly Pay	Pair Corr
0.49	DIG	ProShares Ultra Oil	Pair Corr
0.41	USD	ProShares Ultra Semi	Pair Corr
0.37	DBA	Invesco DB Agriculture	Pair Corr
0.81	BAC	Bank of America Aggressive Push	Pair Corr
0.81	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.76	WMT	Walmart Aggressive Push	Pair Corr
0.71	DIS	Walt Disney Aggressive Push	Pair Corr
0.69	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.67	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.62	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.61	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.59	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.54	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.28	0.56	0.02	0.58	0.03	0.65	0.28	-0.54	0.71	META
MSFT	0.28		0.23	0.14	0.19	-0.02	0.03	-0.13	0.11	-0.19	MSFT
UBER	0.56	0.23		-0.04	-0.02	0.27	0.01	-0.13	0.06	0.35	UBER
F	0.02	0.14	-0.04		0.14	-0.4	0.44	0.67	-0.31	0.32	F
T	0.58	0.19	-0.02	0.14		-0.51	0.77	0.56	-0.78	0.37	T
A	0.03	-0.02	0.27	-0.4	-0.51		-0.48	-0.64	0.64	-0.01	A
CRM	0.65	0.03	0.01	0.44	0.77	-0.48		0.85	-0.92	0.66	CRM
JPM	0.28	-0.13	-0.13	0.67	0.56	-0.64	0.85		-0.83	0.49	JPM
MRK	-0.54	0.11	0.06	-0.31	-0.78	0.64	-0.92	-0.83		-0.56	MRK
XOM	0.71	-0.19	0.35	0.32	0.37	-0.01	0.66	0.49	-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	+ 0.77	T
XOM	+ 0.71	META
JPM	+ 0.67	F
XOM	+ 0.66	CRM
CRM	+ 0.65	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.64	A
XOM	- 0.56	MRK
MRK	- 0.54	META

ETF Managers Competition Risk-Adjusted Indicators

There is a big difference between ETF Etf performing well and ETF Managers 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 ETF Managers' 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	0.21	1.39	(1.15)	2.62	(3.15)	8.02
MSFT	0.90	(0.03)	(0.04)	0.07	1.49	(0.86)	2.09	(1.85)	8.19
UBER	1.62	(0.13)	(0.05)	0.00	2.26	(1.79)	2.69	(2.53)	20.10
F	1.43	(0.15)	(0.04)	0.02	2.24	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(9.48)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.14	(0.13)	0.00	(0.12)	0.00	0.00	2.29	(2.42)	9.02
CRM	1.29	0.26	0.22	0.36	0.91	(1.53)	3.18	(1.91)	9.09
JPM	1.12	(0.01)	0.06	0.12	1.42	(1.19)	2.05	(2.00)	15.87
MRK	0.89	(0.23)	0.00	(0.76)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.02	(0.06)	(0.09)	0.00	1.34	(1.07)	2.10	(2.09)	5.74

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