Bank Of Montreal Correlations
| NRGU Etf | USD 502.48 0.00 0.00% |
The current 90-days correlation between Bank Of Montreal and ProShares Ultra SP500 is 0.06 (i.e., Significant diversification). The correlation of Bank Of Montreal 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.
Bank Of Montreal Correlation With Market
Good diversification
The correlation between Bank Of Montreal and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Bank Of Montreal and DJI in the same portfolio, assuming nothing else is changed.
Bank |
Moving together with Bank Etf
| 0.62 | BND | Vanguard Total Bond | PairCorr |
| 0.69 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
| 0.64 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
Moving against Bank Etf
| 0.75 | TECL | Direxion Daily Technology | PairCorr |
| 0.72 | SPY | SPDR SP 500 Aggressive Push | PairCorr |
| 0.72 | IVV | iShares Core SP | PairCorr |
| 0.71 | SSO | ProShares Ultra SP500 | PairCorr |
| 0.71 | QLD | ProShares Ultra QQQ | PairCorr |
| 0.71 | VUG | Vanguard Growth Index | PairCorr |
| 0.7 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.7 | UPRO | ProShares UltraPro SP500 | PairCorr |
| 0.69 | FNGU | MicroSectors FANG Index | PairCorr |
| 0.69 | VTI | Vanguard Total Stock | PairCorr |
| 0.66 | VO | Vanguard Mid Cap | PairCorr |
| 0.65 | VTV | Vanguard Value Index | PairCorr |
| 0.56 | VB | Vanguard Small Cap | PairCorr |
| 0.56 | VWO | Vanguard FTSE Emerging | PairCorr |
| 0.53 | UYG | ProShares Ultra Fina | PairCorr |
| 0.32 | GUSH | Direxion Daily SP | PairCorr |
| 0.76 | CSCO | Cisco Systems Aggressive Push | PairCorr |
| 0.75 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.74 | HD | Home Depot | PairCorr |
| 0.74 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
| 0.69 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.65 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.64 | XOM | Exxon Mobil Corp Sell-off Trend | PairCorr |
| 0.56 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.55 | IBM | International Business Sell-off Trend | PairCorr |
| 0.49 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Bank Of Montreal Constituents Risk-Adjusted Indicators
There is a big difference between Bank Etf performing well and Bank Of Montreal 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 Bank Of Montreal'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SSO | 1.08 | 0.03 | 0.06 | 0.13 | 1.43 | 2.17 | 7.58 | |||
| SPXL | 1.61 | 0.04 | 0.08 | 0.13 | 2.19 | 3.24 | 11.38 | |||
| QLD | 1.52 | 0.04 | 0.05 | 0.13 | 2.12 | 3.15 | 10.27 | |||
| FNGU | 3.06 | 0.27 | 0.10 | 0.20 | 4.36 | 7.14 | 20.09 | |||
| UYG | 1.46 | 0.06 | 0.14 | 0.14 | 1.27 | 2.77 | 15.62 |
Bank Of Montreal Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Bank Of Montreal etf to make a market-neutral strategy. Peer analysis of Bank Of Montreal could also be used in its relative valuation, which is a method of valuing Bank Of Montreal by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |