COWZ Etf | | | USD 57.46 1.41 2.52% |
The current 90-days correlation between Pacer Cash Cows and Vanguard Mid Cap Value is 0.9 (i.e., Almost no diversification). The correlation of Pacer Cash 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.
Pacer Cash Correlation With Market
Poor diversification
The correlation between Pacer Cash Cows and DJI 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 Pacer Cash Cows and DJI in the same portfolio, assuming nothing else is changed.
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