Exchange Traded Correlations

OPPX Etf

USD 23.55 0.00 0.00%

The current 90-days correlation between Exchange Traded Concepts and First Trust Exchange Traded is -0.21 (i.e., Very good diversification). The correlation of Exchange Traded 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.

Exchange Traded Correlation With Market

Good diversification

The correlation between Exchange Traded Concepts and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Exchange Traded Concepts and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Exchange Etf

0.87	VUG	Vanguard Growth Index	Pair Corr
0.84	IWF	iShares Russell 1000	Pair Corr
0.83	IVW	iShares SP 500	Pair Corr
0.83	SPYG	SPDR Portfolio SP	Pair Corr
0.83	IUSG	iShares Core SP	Pair Corr
0.84	VONG	Vanguard Russell 1000	Pair Corr
0.83	MGK	Vanguard Mega Cap	Pair Corr
0.86	VRGWX	Vanguard Russell 1000	Pair Corr
0.85	QQQM	Invesco NASDAQ 100	Pair Corr
0.83	IWY	iShares Russell Top	Pair Corr
0.68	NVDL	GraniteShares 15x Long Buyout Trend	Pair Corr
0.68	NVDX	T Rex 2X Buyout Trend	Pair Corr
0.68	NVDU	Direxion Daily NVDA	Pair Corr
0.87	FNGU	MicroSectors FANG Index Buyout Trend	Pair Corr
0.89	WEBL	Direxion Daily Dow	Pair Corr
0.82	BITX	Volatility Shares Trust Buyout Trend	Pair Corr
0.62	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.83	WMT	Walmart	Pair Corr
0.81	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.79	DIS	Walt Disney Sell-off Trend	Pair Corr
0.81	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.64	HD	Home Depot	Pair Corr
0.85	T	ATT Inc Sell-off Trend	Pair Corr

Moving against Exchange Etf

0.46	WTID	UBS ETRACS	Pair Corr
0.88	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.84	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.45	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.43	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.36	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	MMLG	QPX	NWLG	LCG	MBCC
MMLG		0.93	0.99	0.9	0.91	MMLG
QPX	0.93		0.92	0.9	0.96	QPX
NWLG	0.99	0.92		0.86	0.89	NWLG
LCG	0.9	0.9	0.86		0.94	LCG
MBCC	0.91	0.96	0.89	0.94		MBCC
	MMLG	QPX	NWLG	LCG	MBCC

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Exchange Traded Constituents Risk-Adjusted Indicators

There is a big difference between Exchange Etf performing well and Exchange Traded 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 Exchange Traded'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
MMLG	0.72	0.24	0.11	11.20	0.75	(0.76)	2.12	(1.40)	4.98
QPX	0.56	0.08	0.05	0.23	0.50	(0.63)	1.42	(1.18)	3.70
NWLG	0.71	0.21	0.08	13.15	0.78	(0.73)	1.80	(1.52)	5.41
LCG	0.90	0.09	0.08	0.21	0.95	(0.98)	1.89	(1.74)	6.09
MBCC	0.50	0.03	(0.02)	0.15	0.48	(0.53)	1.05	(0.97)	3.36

Exchange Traded 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 Exchange Traded etf to make a market-neutral strategy. Peer analysis of Exchange Traded could also be used in its relative valuation, which is a method of valuing Exchange Traded by comparing valuation metrics with similar companies.

First Trust Exchange Traded AdvisorShares Q Dynamic Nuveen Winslow Large Cap Sterling Capital Focus Northern Lights American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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