PowerShares Global Correlations

OTC Etfs . USA . 
Etf . PowerShares Global Funds
EWQQF Etf  USD 370.36  0.27  0.07%   
The current 90-days correlation between PowerShares Global Funds and Vanguard Total Stock is 0.56 (i.e., Very weak diversification). The correlation of PowerShares Global 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.

PowerShares Global Correlation With Market

Weak diversification

The correlation between PowerShares Global Funds and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PowerShares Global Funds 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 PowerShares Global Funds. Also, note that the market value of any otc etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with PowerShares OTC Etf

  0.93VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.94SPY SPDR SP 500 Sell-off TrendPairCorr
  0.94IVV iShares Core SP Sell-off TrendPairCorr
  0.71VTV Vanguard Value IndexPairCorr
  0.94VUG Vanguard Growth Index Sell-off TrendPairCorr
  0.88VO Vanguard Mid CapPairCorr
  0.87VB Vanguard Small CapPairCorr
  0.85DSJA DSJAPairCorr
  0.84RSPY Tuttle Capital ManagementPairCorr
  0.78MEME Roundhill InvestmentsPairCorr
  0.8ITDD iShares TrustPairCorr
  0.77DIS Walt DisneyPairCorr
  0.9CSCO Cisco SystemsPairCorr
  0.82WMT WalmartPairCorr
  0.84JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.87AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.85BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.7AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.72HD Home DepotPairCorr
  0.62TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr

Moving against PowerShares OTC Etf

  0.73MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.56BND Vanguard Total BondPairCorr
  0.56VEA Vanguard FTSE DevelopedPairCorr
  0.77KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.33GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr

Related Correlations Analysis

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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

PowerShares Global Competition Risk-Adjusted Indicators

There is a big difference between PowerShares OTC Etf performing well and PowerShares Global OTC 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 PowerShares Global'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum 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 

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Our tools can tell you how much better you can do entering a position in PowerShares Global 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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