VanEck Semiconductor Correlations

SMGB Etf

33.11 0.94 2.92%

The current 90-days correlation between VanEck Semiconductor and Leverage Shares 3x is 0.3 (i.e., Weak diversification). The correlation of VanEck Semiconductor 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.

VanEck Semiconductor Correlation With Market

Significant diversification

The correlation between VanEck Semiconductor UCITS and DJI is 0.09 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Semiconductor UCITS and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to VanEck Semiconductor could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace VanEck Semiconductor 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 VanEck Semiconductor - 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 VanEck Semiconductor UCITS to buy it.

Moving together with VanEck Etf

0.67

AASG

Amundi Index Solutions

Pair Corr

Related Correlations Analysis

	3ARE	3PLT	3BID	VILX	3LNG	3CON	NVD3	SGBP	COI1	QQQ5
3ARE		0.98	-0.58	-0.89	-0.47	0.91	0.39	0.8	0.94	0.89	3ARE
3PLT	0.98		-0.58	-0.85	-0.52	0.9	0.43	0.86	0.94	0.88	3PLT
3BID	-0.58	-0.58		0.64	0.64	-0.66	-0.44	-0.66	-0.67	-0.43	3BID
VILX	-0.89	-0.85	0.64		0.38	-0.82	-0.25	-0.62	-0.83	-0.76	VILX
3LNG	-0.47	-0.52	0.64	0.38		-0.49	-0.67	-0.59	-0.54	-0.55	3LNG
3CON	0.91	0.9	-0.66	-0.82	-0.49		0.59	0.86	0.98	0.79	3CON
NVD3	0.39	0.43	-0.44	-0.25	-0.67	0.59		0.64	0.59	0.55	NVD3
SGBP	0.8	0.86	-0.66	-0.62	-0.59	0.86	0.64		0.91	0.69	SGBP
COI1	0.94	0.94	-0.67	-0.83	-0.54	0.98	0.59	0.91		0.82	COI1
QQQ5	0.89	0.88	-0.43	-0.76	-0.55	0.79	0.55	0.69	0.82		QQQ5
	3ARE	3PLT	3BID	VILX	3LNG	3CON	NVD3	SGBP	COI1	QQQ5

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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

3PLT	+ 0.98	3ARE
COI1	+ 0.98	3CON
COI1	+ 0.94	3ARE
COI1	+ 0.94	3PLT
3CON	+ 0.91	3ARE
COI1	+ 0.91	SGBP

High negative correlations

VILX	- 0.89	3ARE
VILX	- 0.85	3PLT
COI1	- 0.83	VILX
3CON	- 0.82	VILX
QQQ5	- 0.76	VILX
NVD3	- 0.67	3LNG

VanEck Semiconductor Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Semiconductor 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 VanEck Semiconductor'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
3ARE	4.47	1.24	0.21	1.03	4.80	(4.65)	9.36	(8.88)	40.25
3PLT	8.16	3.67	0.42	(1.63)	6.20	(9.78)	19.87	(13.77)	76.95
3BID	6.25	0.48	0.04	(0.53)	8.47	(6.15)	15.94	(13.81)	42.56
VILX	4.68	(0.13)	0.00	0.15	0.00	0.00	10.83	(8.37)	42.70
3LNG	7.02	0.05	0.00	0.40	8.07	(7.80)	18.62	(11.68)	42.75
3CON	12.11	2.77	0.21	1.21	12.16	(13.89)	29.54	(17.60)	99.07
NVD3	5.64	0.41	0.06	0.56	6.75	(5.53)	12.69	(9.93)	28.35
SGBP	0.33	0.07	(0.06)	(1.62)	0.16	(0.40)	0.98	(0.58)	2.11
COI1	4.01	1.08	0.21	1.12	4.02	(4.57)	8.54	(5.34)	33.22
QQQ5	3.05	0.57	0.12	0.50	4.08	(3.42)	7.05	(5.30)	25.86

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Our tools can tell you how much better you can do entering a position in VanEck Semiconductor 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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