AB High Correlations

Etfs USA . 
Etf . AB High Dividend
HIDV Etf   74.94  0.37  0.50%   
The current 90-days correlation between AB High Dividend and AB Low Volatility is 0.88 (i.e., Very poor diversification). The correlation of AB High 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.

AB High Correlation With Market

Very poor diversification

The correlation between AB High Dividend and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AB High Dividend and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in AB High Dividend. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with HIDV Etf

  0.97VTV Vanguard Value IndexPairCorr
  0.98VYM Vanguard High DividendPairCorr
  0.98IWD iShares Russell 1000PairCorr
  0.97DGRO iShares Core DividendPairCorr
  0.97IVE iShares SP 500PairCorr
  0.93DVY iShares Select DividendPairCorr
  0.97SPYV SPDR Portfolio SPPairCorr
  0.92FVD First Trust ValuePairCorr
  0.97IUSV iShares Core SPPairCorr
  0.77NOBL ProShares SP 500PairCorr
  0.88SHLD Global X FundsPairCorr
  0.97WINN Harbor Long TermPairCorr
  0.86INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.64XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.82HD Home DepotPairCorr
  0.96AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.8HPQ HP IncPairCorr
  0.75T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.82TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.84CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.83DIS Walt Disney Aggressive PushPairCorr
  0.95CSCO Cisco Systems Aggressive PushPairCorr

Moving against HIDV Etf

  0.94FNGD MicroSectors FANG IndexPairCorr
  0.48HUM Humana Inc Fiscal Year End 23rd of January 2025 PairCorr
  0.75JNJ Johnson Johnson Sell-off TrendPairCorr
  0.74KO Coca Cola Fiscal Year End 11th of February 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   
FWD
+ 0.97
LOWV
YEAR
+ 0.78
FWD
YEAR
+ 0.77
LOWV
TAFI
+ 0.47
YEAR
TAFI
+ 0.21
LOWV
TAFI
+ 0.19
FWD
  
High negative correlations   
STIX
- 0.83
FWD
STIX
- 0.76
LOWV
YEAR
- 0.74
STIX
TAFI
- 0.13
STIX

AB High Constituents Risk-Adjusted Indicators

There is a big difference between HIDV Etf performing well and AB High 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 AB High'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.

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