Kelly Strategic Correlations
| HOTL Etf | USD 15.18 0.04 0.26% |
The current 90-days correlation between Kelly Strategic Mana and Kelly Strategic Management is 0.37 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Kelly Strategic moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Kelly Strategic Management moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
Kelly Strategic Correlation With Market
Significant diversification
The correlation between Kelly Strategic Management and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Kelly Strategic Management and DJI in the same portfolio, assuming nothing else is changed.
Kelly |
Moving together with Kelly Etf
| 0.72 | XLY | Consumer Discretionary | PairCorr |
| 0.7 | VCR | Vanguard Consumer | PairCorr |
| 0.71 | FDIS | Fidelity MSCI Consumer | PairCorr |
| 0.67 | IYC | iShares Consumer Dis | PairCorr |
| 0.68 | VUG | Vanguard Growth Index | PairCorr |
| 0.75 | PDBA | Invesco Agriculture | PairCorr |
| 0.62 | ETHE | Grayscale Ethereum Trust Downward Rally | PairCorr |
| 0.74 | AMZU | Direxion Daily AMZN | PairCorr |
| 0.72 | BULZ | MicroSectors Solactive | PairCorr |
| 0.67 | BUFQ | FT Cboe Vest | PairCorr |
| 0.72 | PGRO | Putnam Focused Large | PairCorr |
Moving against Kelly Etf
| 0.69 | ITB | iShares Home Construction Sell-off Trend | PairCorr |
| 0.6 | XHB | SPDR SP Homebuilders | PairCorr |
| 0.39 | RCD | Invesco SP 500 | PairCorr |
| 0.43 | VEA | Vanguard FTSE Developed | PairCorr |
| 0.36 | VWO | Vanguard FTSE Emerging | PairCorr |
Related Correlations Analysis
| -0.01 | -0.06 | -0.3 | 0.1 | XDNA | ||
| -0.01 | 0.98 | 0.74 | -0.38 | CRUZ | ||
| -0.06 | 0.98 | 0.74 | -0.35 | BEDZ | ||
| -0.3 | 0.74 | 0.74 | -0.23 | JRNY | ||
| 0.1 | -0.38 | -0.35 | -0.23 | HGER | ||
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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
| High negative correlations
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Kelly Strategic Constituents Risk-Adjusted Indicators
There is a big difference between Kelly Etf performing well and Kelly Strategic 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 Kelly Strategic'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| XDNA | 1.56 | 0.03 | 0.00 | 0.14 | 1.88 | 3.03 | 8.41 | |||
| CRUZ | 0.86 | 0.27 | 0.24 | 5.38 | 0.70 | 2.28 | 7.15 | |||
| BEDZ | 0.82 | 0.18 | 0.12 | 1.00 | 0.96 | 1.79 | 8.29 | |||
| JRNY | 1.06 | 0.12 | 0.04 | 1.41 | 1.48 | 2.36 | 8.59 | |||
| HGER | 0.66 | 0.00 | (0.05) | 0.02 | 0.79 | 1.24 | 3.59 |
Kelly Strategic 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 Kelly Strategic etf to make a market-neutral strategy. Peer analysis of Kelly Strategic could also be used in its relative valuation, which is a method of valuing Kelly Strategic by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |