MicroSectors Big Correlations
| BNKU Etf | USD 30.47 1.00 3.18% |
The correlation of MicroSectors Big 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MicroSectors Big moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MicroSectors Big Banks moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Poor diversification
The correlation between MicroSectors Big Banks and NYA is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors Big Banks and NYA in the same portfolio, assuming nothing else is changed.
MicroSectors |
The ability to find closely correlated positions to MicroSectors Big could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace MicroSectors Big 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 MicroSectors Big - 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 MicroSectors Big Banks to buy it.
Moving together with MicroSectors Etf
| 0.74 | UYG | ProShares Ultra Fina | PairCorr |
| 0.66 | EWC | iShares MSCI Canada | PairCorr |
| 0.79 | AXP | American Express Financial Report 19th of July 2024 | PairCorr |
Moving against MicroSectors Etf
| 0.55 | INTC | Intel Financial Report 25th of July 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
|
MicroSectors Big Constituents Risk-Adjusted Indicators
There is a big difference between MicroSectors Etf performing well and MicroSectors Big 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 MicroSectors Big'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| BULZ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NRGU | 2.49 | 0.05 | 0.03 | 0.05 | 3.42 | 5.43 | 18.53 | |||
| DPST | 3.14 | (0.23) | 0.00 | (0.04) | 0.00 | 7.87 | 25.45 | |||
| WEBL | 2.32 | (0.22) | 0.00 | (0.06) | 0.00 | 5.07 | 16.48 | |||
| HIBL | 2.60 | (0.21) | 0.00 | (0.02) | 0.00 | 4.19 | 15.06 |
Additional Information and Resources on Investing in MicroSectors Etf
When determining whether MicroSectors Big Banks is a good investment, qualitative aspects like company management, corporate governance, and ethical practices play a significant role. A comparison with peer companies also provides context and helps to understand if MicroSectors Etf is undervalued or overvalued. This multi-faceted approach, blending both quantitative and qualitative analysis, forms a solid foundation for making an informed investment decision about Microsectors Big Banks Etf. Highlighted below are key reports to facilitate an investment decision about Microsectors Big Banks Etf:Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in MicroSectors Big Banks. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in industry. You can also try the FinTech Suite module to use AI to screen and filter profitable investment opportunities.
The market value of MicroSectors Big Banks is measured differently than its book value, which is the value of MicroSectors that is recorded on the company's balance sheet. Investors also form their own opinion of MicroSectors Big's value that differs from its market value or its book value, called intrinsic value, which is MicroSectors Big's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because MicroSectors Big's market value can be influenced by many factors that don't directly affect MicroSectors Big's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between MicroSectors Big's value and its price as these two are different measures arrived at by different means. Investors typically determine if MicroSectors Big is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, MicroSectors Big's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.