VanEck CEF Correlations

XMPT Etf

USD 22.76 0.28 1.25%

The current 90-days correlation between VanEck CEF Municipal and VanEck Long Muni is 0.61 (i.e., Poor diversification). The correlation of VanEck CEF 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 CEF Correlation With Market

Weak diversification

The correlation between VanEck CEF Municipal and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck CEF Municipal and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in VanEck CEF Municipal. 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 VanEck Etf

0.79	HYD	VanEck High Yield	Pair Corr
0.7	FMHI	First Trust Municipal	Pair Corr
0.63	BND	Vanguard Total Bond	Pair Corr
0.73	VEA	Vanguard FTSE Developed	Pair Corr
0.67	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.64	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.67	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.72	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Moving against VanEck Etf

0.35	VB	Vanguard Small Cap	Pair Corr
0.34	MAAX	MAAX	Pair Corr
0.34	VUG	Vanguard Growth Index	Pair Corr
0.31	VO	Vanguard Mid Cap	Pair Corr
0.32	CVX	Chevron Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	MLN	SHYD	HYMB	HYD	SMB
MLN		0.14	0.84	0.9	0.88	MLN
SHYD	0.14		0.41	0.47	0.36	SHYD
HYMB	0.84	0.41		0.95	0.87	HYMB
HYD	0.9	0.47	0.95		0.92	HYD
SMB	0.88	0.36	0.87	0.92		SMB
	MLN	SHYD	HYMB	HYD	SMB

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VanEck CEF Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck CEF 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 CEF'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
MLN	0.28	(0.01)	(0.22)	0.06	0.44	(0.30)	0.56	(0.49)	2.89
SHYD	0.19	0.02	(0.36)	(0.49)	0.16	(0.21)	0.49	(0.44)	1.11
HYMB	0.23	0.00	(0.24)	0.11	0.38	(0.22)	0.50	(0.50)	2.05
HYD	0.19	0.00	(0.28)	0.15	0.32	(0.18)	0.38	(0.44)	1.92
SMB	0.07	(0.01)	(0.71)	(0.20)	0.08	(0.09)	0.17	(0.17)	0.58

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