HANetf ICAV Correlations

T3KE Etf

EUR 14.08 0.12 0.85%

The current 90-days correlation between HANetf ICAV and HANetf ICAV is 0.37 (i.e., Weak diversification). The correlation of HANetf ICAV 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.

HANetf ICAV Correlation With Market

Very weak diversification

The correlation between HANetf ICAV and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding HANetf ICAV and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with HANetf Etf

0.65	UIM5	UBS Fund Solutions	Pair Corr
0.7	GQ9	SPDR Gold Shares	Pair Corr
0.95	VUSA	Vanguard Funds Public	Pair Corr
0.96	SXR8	iShares Core SP	Pair Corr
0.95	XBAK	Xtrackers MSCI Pakistan	Pair Corr
0.71	EXV1	iShares STOXX Europe	Pair Corr
0.71	TRDX	Invesco Treasury Bond	Pair Corr
0.78	DFEN	VanEck Defense ETF	Pair Corr
0.93	V80A	Vanguard Funds PLC	Pair Corr
0.94	XDWT	Xtrackers MSCI World	Pair Corr
0.84	DBX4	Xtrackers MSCI	Pair Corr
0.93	VLUS	BNP Paribas Easy	Pair Corr
0.91	C101	Lyxor Fed Funds	Pair Corr
0.95	SYBJ	SSgA SPDR ETFs	Pair Corr
0.92	VGWL	Vanguard FTSE All	Pair Corr
0.94	US9L	WisdomTree SP 500	Pair Corr
0.95	OUFE	Ossiam Irl Icav	Pair Corr
0.85	TRDS	Invesco Us Treasury	Pair Corr
0.96	DBPG	Xtrackers SP	Pair Corr
0.96	VWCE	Vanguard FTSE All	Pair Corr
0.94	GERD	LG Gerd Kommer	Pair Corr
0.94	UBU9	UBS plc	Pair Corr
0.77	E908	Lyxor 1	Pair Corr
0.66	DBPE	Xtrackers LevDAX	Pair Corr

Moving against HANetf Etf

0.74	DES2	LG DAX Daily	Pair Corr
0.73	LYQL	LYXOR DAILY SHORTDAX	Pair Corr
0.72	DBPD	Xtrackers ShortDAX	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	-0.54	-0.41	0.45	0.27	0.57	0.3	-0.22	-0.51	META
MSFT	0.66		-0.62	-0.2	0.48	0.1	0.53	0.36	-0.13	-0.76	MSFT
UBER	-0.54	-0.62		0.36	-0.71	0.17	-0.76	-0.56	0.57	0.69	UBER
F	-0.41	-0.2	0.36		0.09	-0.28	0.03	0.34	-0.12	0.54	F
T	0.45	0.48	-0.71	0.09		-0.34	0.88	0.85	-0.71	-0.37	T
A	0.27	0.1	0.17	-0.28	-0.34		-0.32	-0.51	0.68	0.09	A
CRM	0.57	0.53	-0.76	0.03	0.88	-0.32		0.88	-0.79	-0.42	CRM
JPM	0.3	0.36	-0.56	0.34	0.85	-0.51	0.88		-0.83	-0.23	JPM
MRK	-0.22	-0.13	0.57	-0.12	-0.71	0.68	-0.79	-0.83		0.19	MRK
XOM	-0.51	-0.76	0.69	0.54	-0.37	0.09	-0.42	-0.23	0.19		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.88	T
JPM	+ 0.88	CRM
JPM	+ 0.85	T
XOM	+ 0.69	UBER
MRK	+ 0.68	A
MSFT	+ 0.66	META

High negative correlations

MRK	- 0.83	JPM
MRK	- 0.79	CRM
CRM	- 0.76	UBER
XOM	- 0.76	MSFT
MRK	- 0.71	T
T	- 0.71	UBER

HANetf ICAV Competition Risk-Adjusted Indicators

There is a big difference between HANetf Etf performing well and HANetf ICAV 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 HANetf ICAV'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
META	1.16	0.07	0.03	0.45	1.43	(1.27)	2.62	(3.15)	7.43
MSFT	0.86	(0.01)	(0.01)	0.00	1.62	(0.78)	1.78	(2.23)	8.14
UBER	1.72	(0.26)	0.00	(0.27)	0.00	0.00	2.67	(5.35)	20.41
F	1.44	(0.12)	0.00	(0.68)	0.00	0.00	2.53	(2.90)	11.21
T	0.95	0.10	0.07	0.48	1.12	(1.01)	1.93	(1.99)	7.95
A	1.24	(0.08)	0.00	(0.29)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.49	0.36	0.23	0.29	1.31	(1.70)	3.18	(2.88)	14.80
JPM	1.04	0.20	0.14	(1.99)	1.08	(1.20)	1.99	(1.44)	15.87
MRK	0.98	(0.25)	0.00	(0.99)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.90	(0.12)	0.00	(0.37)	0.00	0.00	1.83	(2.14)	6.06

Be your own money manager

Our tools can tell you how much better you can do entering a position in HANetf ICAV 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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