CHIM Correlations
| CHIM Etf | USD 13.30 0.00 0.00% |
The current 90-days correlation between CHIM and CHII is 0.88 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as CHIM moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if CHIM moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
CHIM Correlation With Market
Good diversification
The correlation between CHIM and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding CHIM and DJI in the same portfolio, assuming nothing else is changed.
CHIM |
Moving together with CHIM Etf
| 0.67 | BITI | ProShares Trust Sell-off Trend | PairCorr |
| 0.84 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.65 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.63 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
Moving against CHIM Etf
| 0.71 | PULS | PGIM Ultra Short | PairCorr |
| 0.69 | SPAQ | Horizon Kinetics SPAC | PairCorr |
| 0.65 | CAPD | Barclays Capital | PairCorr |
| 0.62 | CPST | Calamos ETF Trust | PairCorr |
| 0.58 | DIS | Walt Disney | PairCorr |
| 0.38 | MPAY | Akros Monthly Payout | PairCorr |
| 0.83 | CSCO | Cisco Systems | PairCorr |
| 0.78 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.77 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.75 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.61 | T | ATT Inc Earnings Call This Week | PairCorr |
| 0.58 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.54 | WMT | Walmart | PairCorr |
| 0.33 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
Related Correlations Analysis
| 0.93 | 0.86 | 0.26 | 0.17 | CHII | ||
| 0.93 | 0.79 | 0.23 | 0.18 | CHIE | ||
| 0.86 | 0.79 | 0.47 | 0.34 | CHIX | ||
| 0.26 | 0.23 | 0.47 | 0.96 | CHIQ | ||
| 0.17 | 0.18 | 0.34 | 0.96 | ECNS | ||
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CHIM Constituents Risk-Adjusted Indicators
There is a big difference between CHIM Etf performing well and CHIM 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 CHIM'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| CHII | 0.90 | (0.13) | 0.00 | (0.98) | 0.00 | 1.84 | 5.46 | |||
| CHIE | 1.09 | (0.08) | 0.00 | (0.43) | 0.00 | 2.23 | 6.28 | |||
| CHIX | 1.10 | (0.11) | 0.00 | (0.90) | 0.00 | 2.11 | 8.05 | |||
| CHIQ | 2.45 | 0.33 | 0.10 | 1.75 | 2.89 | 5.93 | 22.16 | |||
| ECNS | 2.48 | 0.33 | 0.09 | 1.24 | 3.27 | 7.12 | 21.73 |
CHIM 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 CHIM etf to make a market-neutral strategy. Peer analysis of CHIM could also be used in its relative valuation, which is a method of valuing CHIM by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |