Deka IBoxx Correlations

EFQ8 Etf

EUR 99.91 0.39 0.39%

The current 90-days correlation between Deka iBoxx EUR and Deka Deutsche Brse is 0.4 (i.e., Very weak diversification). The correlation of Deka IBoxx 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.

Deka IBoxx Correlation With Market

Average diversification

The correlation between Deka iBoxx EUR and DJI is 0.16 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Deka iBoxx EUR and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Deka IBoxx could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Deka IBoxx when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Deka IBoxx - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Deka iBoxx EUR to buy it.

Moving together with Deka Etf

0.79	UIM5	UBS Fund Solutions	Pair Corr
0.72	XDJP	Xtrackers Nikkei 225	Pair Corr
0.71	SXRZ	iShares VII PLC	Pair Corr
0.74	VUSA	Vanguard Funds Public	Pair Corr
0.64	EXX7	iShares Nikkei 225	Pair Corr
0.74	SXR8	iShares Core SP	Pair Corr
0.73	GGUE	UBS ETF Public	Pair Corr
0.69	DAVV	VanEck Crypto	Pair Corr
0.7	ETLZ	Legal General UCITS	Pair Corr
0.81	SC0I	Invesco MSCI Japan	Pair Corr
0.84	E908	Lyxor 1	Pair Corr
0.75	DBPE	Xtrackers LevDAX	Pair Corr

Moving against Deka Etf

0.84	DBPD	Xtrackers ShortDAX	Pair Corr
0.39	EL4G	Deka EURO STOXX	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.42	-0.28	-0.21	0.51	0.28	0.65	0.43	-0.4	0.02	META
MSFT	0.42		-0.49	-0.08	0.36	0.16	0.29	0.17	0.1	-0.72	MSFT
UBER	-0.28	-0.49		0.09	-0.7	0.11	-0.59	-0.46	0.4	0.47	UBER
F	-0.21	-0.08	0.09		0.18	-0.47	0.26	0.51	-0.32	0.33	F
T	0.51	0.36	-0.7	0.18		-0.29	0.88	0.85	-0.72	-0.17	T
A	0.28	0.16	0.11	-0.47	-0.29		-0.26	-0.46	0.57	-0.08	A
CRM	0.65	0.29	-0.59	0.26	0.88	-0.26		0.92	-0.83	0.03	CRM
JPM	0.43	0.17	-0.46	0.51	0.85	-0.46	0.92		-0.87	0.11	JPM
MRK	-0.4	0.1	0.4	-0.32	-0.72	0.57	-0.83	-0.87		-0.25	MRK
XOM	0.02	-0.72	0.47	0.33	-0.17	-0.08	0.03	0.11	-0.25		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	+ 0.92	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
CRM	+ 0.65	META
MRK	+ 0.57	A
T	+ 0.51	META

High negative correlations

MRK	- 0.87	JPM
MRK	- 0.83	CRM
MRK	- 0.72	T
XOM	- 0.72	MSFT
T	- 0.7	UBER
CRM	- 0.59	UBER

Deka IBoxx Competition Risk-Adjusted Indicators

There is a big difference between Deka Etf performing well and Deka IBoxx 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 Deka IBoxx'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	1.15	0.21	0.11	0.55	1.25	(1.33)	3.22	(1.87)	8.02
MSFT	0.84	0.02	(0.01)	0.12	1.45	(0.79)	1.83	(1.57)	8.14
UBER	1.83	(0.28)	0.00	(0.13)	0.00	0.00	2.69	(5.35)	20.41
F	1.36	(0.13)	(0.04)	0.00	2.10	(1.41)	2.53	(2.79)	11.21
T	0.97	0.15	0.06	2.52	1.02	(1.08)	2.36	(1.99)	6.74
A	1.22	0.00	(0.04)	0.09	1.46	(1.30)	2.71	(2.41)	9.02
CRM	1.47	0.40	0.29	0.38	1.04	(1.72)	3.59	(1.93)	13.87
JPM	1.01	0.08	0.13	0.13	0.94	(1.19)	1.73	(1.42)	15.87
MRK	0.96	(0.20)	0.00	(0.82)	0.00	0.00	2.00	(2.17)	5.18
XOM	0.89	(0.02)	(0.07)	0.02	1.18	(0.97)	1.83	(1.96)	6.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in Deka IBoxx without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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