Texas Capital Correlations

TXS Etf

34.78 0.11 0.32%

The current 90-days correlation between Texas Capital Funds and Freedom Day Dividend is 0.81 (i.e., Very poor diversification). The correlation of Texas Capital 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.

Texas Capital Correlation With Market

Very poor diversification

The correlation between Texas Capital Funds and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Texas Capital Funds and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Texas Capital Funds. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Texas Etf

0.96	VO	Vanguard Mid Cap	Pair Corr
0.98	VXF	Vanguard Extended Market	Pair Corr
0.96	IJH	iShares Core SP	Pair Corr
0.98	IWR	iShares Russell Mid Sell-off Trend	Pair Corr
0.95	MDY	SPDR SP MIDCAP	Pair Corr
0.89	FV	First Trust Dorsey	Pair Corr
0.96	IVOO	Vanguard SP Mid	Pair Corr
0.96	JHMM	John Hancock Multifactor	Pair Corr
0.98	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.95	REGL	ProShares SP MidCap Low Volatility	Pair Corr
0.94	VTI	Vanguard Total Stock	Pair Corr
0.92	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.92	IVV	iShares Core SP	Pair Corr
0.88	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.93	VUG	Vanguard Growth Index	Pair Corr
0.98	VB	Vanguard Small Cap	Pair Corr
0.71	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.7	HD	Home Depot Sell-off Trend	Pair Corr
0.9	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.86	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.93	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.76	T	ATT Inc Aggressive Push	Pair Corr
0.77	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.94	BAC	Bank of America Aggressive Push	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.91	DIS	Walt Disney Aggressive Push	Pair Corr
0.86	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr

Moving against Texas Etf

0.72	BND	Vanguard Total Bond	Pair Corr
0.66	VEA	Vanguard FTSE Developed	Pair Corr
0.85	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.85	KO	Coca Cola Sell-off Trend	Pair Corr
0.83	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.71	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI
MBOX		0.27	0.3	-0.56	0.64	0.81	0.06	0.81	-0.31	MBOX
DIEM	0.27		0.9	-0.34	0.03	0.37	0.48	0.2	0.31	DIEM
MCHI	0.3	0.9		-0.56	0.29	0.54	0.09	0.4	-0.06	MCHI
DIPS	-0.56	-0.34	-0.56		-0.76	-0.86	0.39	-0.8	0.68	DIPS
DISO	0.64	0.03	0.29	-0.76		0.81	-0.57	0.87	-0.79	DISO
DIVB	0.81	0.37	0.54	-0.86	0.81		-0.21	0.96	-0.62	DIVB
DIVD	0.06	0.48	0.09	0.39	-0.57	-0.21		-0.29	0.86	DIVD
DIVG	0.81	0.2	0.4	-0.8	0.87	0.96	-0.29		-0.69	DIVG
DIVI	-0.31	0.31	-0.06	0.68	-0.79	-0.62	0.86	-0.69		DIVI
	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG	DIVI

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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

DIVG	+ 0.96	DIVB
MCHI	+ 0.9	DIEM
DIVG	+ 0.87	DISO
DIVI	+ 0.86	DIVD
DIVB	+ 0.81	MBOX
DIVG	+ 0.81	MBOX

High negative correlations

DIVB	- 0.86	DIPS
DIVG	- 0.8	DIPS
DIVI	- 0.79	DISO
DISO	- 0.76	DIPS
DIVI	- 0.69	DIVG
DIVI	- 0.62	DIVB

Texas Capital Constituents Risk-Adjusted Indicators

There is a big difference between Texas Etf performing well and Texas Capital 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 Texas Capital'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
MBOX	0.60	(0.05)	(0.08)	0.06	0.63	(0.71)	1.25	(1.29)	3.49
DIEM	0.84	(0.05)	(0.11)	(0.02)	1.15	(0.85)	1.97	(2.01)	7.08
MCHI	1.91	0.16	0.02	1.03	2.53	(2.15)	5.40	(3.25)	19.77
DIPS	1.55	(0.11)	0.00	0.27	0.00	0.00	2.54	(3.20)	13.88
DISO	0.81	0.18	0.11	0.59	0.73	(0.97)	1.67	(1.33)	7.68
DIVB	0.53	0.01	(0.02)	0.13	0.32	(0.67)	1.04	(0.81)	3.81
DIVD	0.49	(0.09)	0.00	(0.06)	0.00	0.00	0.91	(0.98)	2.20
DIVG	0.48	0.02	(0.04)	0.15	0.40	(0.53)	1.10	(0.86)	3.07
DIVI	0.63	(0.16)	0.00	(0.31)	0.00	0.00	1.02	(1.58)	3.95

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