Two Roads Correlations

DYLD Etf

USD 22.78 0.06 0.26%

The current 90-days correlation between Two Roads Shared and BlackRock High Yield is 0.62 (i.e., Poor diversification). The correlation of Two Roads 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.

Two Roads Correlation With Market

Average diversification

The correlation between Two Roads Shared 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 Two Roads Shared and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Two Roads Shared. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with Two Etf

0.86	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.76	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.72	DEED	First Trust TCW	Pair Corr
0.76	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.94	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.78	JPIE	JP Morgan Exchange	Pair Corr
0.84	MUSI	American Century Mul	Pair Corr
0.72	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.65	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against Two Etf

0.43	NVDL	GraniteShares 15x Long	Pair Corr
0.43	NVDX	T Rex 2X	Pair Corr
0.43	NVDU	Direxion Daily NVDA	Pair Corr
0.42	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	HYMU	HSRT	OBND	AQUI	LBHIX	MSTSX	ABHYX	SCAXF	VIASP	RRTLX
HYMU		-0.04	0.78	0.0	0.45	0.16	0.91	-0.31	0.12	0.42	HYMU
HSRT	-0.04		-0.37	0.0	0.63	0.53	-0.07	-0.65	0.66	0.48	HSRT
OBND	0.78	-0.37		0.0	0.27	0.1	0.75	0.15	-0.26	0.38	OBND
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
LBHIX	0.45	0.63	0.27	0.0		0.69	0.56	-0.38	0.3	0.77	LBHIX
MSTSX	0.16	0.53	0.1	0.0	0.69		0.27	-0.07	-0.01	0.86	MSTSX
ABHYX	0.91	-0.07	0.75	0.0	0.56	0.27		-0.14	-0.08	0.44	ABHYX
SCAXF	-0.31	-0.65	0.15	0.0	-0.38	-0.07	-0.14		-0.83	-0.23	SCAXF
VIASP	0.12	0.66	-0.26	0.0	0.3	-0.01	-0.08	-0.83		0.16	VIASP
RRTLX	0.42	0.48	0.38	0.0	0.77	0.86	0.44	-0.23	0.16		RRTLX
	HYMU	HSRT	OBND	AQUI	LBHIX	MSTSX	ABHYX	SCAXF	VIASP	RRTLX

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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

ABHYX	+ 0.91	HYMU
RRTLX	+ 0.86	MSTSX
OBND	+ 0.78	HYMU
RRTLX	+ 0.77	LBHIX
ABHYX	+ 0.75	OBND
MSTSX	+ 0.69	LBHIX

High negative correlations

VIASP	- 0.83	SCAXF
SCAXF	- 0.65	HSRT
SCAXF	- 0.38	LBHIX
OBND	- 0.37	HSRT
SCAXF	- 0.31	HYMU
VIASP	- 0.26	OBND

Two Roads Constituents Risk-Adjusted Indicators

There is a big difference between Two Etf performing well and Two Roads 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 Two Roads' 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
HYMU	0.22	0.03	(0.28)	(0.21)	0.29	(0.25)	0.44	(0.48)	1.83
HSRT	0.07	0.00	(1.13)	0.00	0.00	(0.09)	0.23	(0.13)	0.44
OBND	0.15	0.01	(0.56)	0.36	0.12	(0.17)	0.35	(0.31)	1.04
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
LBHIX	0.12	0.01	(0.44)	0.51	0.00	(0.28)	0.24	(0.24)	0.96
MSTSX	0.49	(0.03)	(0.12)	0.08	0.50	(0.60)	1.21	(1.02)	2.80
ABHYX	0.18	0.03	(0.23)	(0.15)	0.24	(0.24)	0.34	(0.33)	1.91
SCAXF	0.70	(0.37)	0.00	(19.66)	0.00	0.00	0.00	0.00	23.47
VIASP	0.75	0.08	(0.04)	(1.44)	1.13	(0.82)	2.28	(1.20)	7.18
RRTLX	0.23	(0.02)	(0.30)	0.07	0.23	(0.25)	0.48	(0.56)	1.36

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