| BBC Etf | | | USD 27.21 0.37 1.34% |
The current 90-days correlation between Virtus LifeSci Biotech and Technology Select Sector is 0.56 (i.e., Very weak diversification). The correlation of Virtus LifeSci 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.
Virtus LifeSci Correlation With Market
Poor diversification
The correlation between Virtus LifeSci Biotech and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Virtus LifeSci Biotech and DJI in the same portfolio, assuming nothing else is changed.
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