OShares Europe Correlations
| OEUR Etf | USD 27.68 0.04 0.14% |
The correlation of OShares Europe is a statistical measure of how it moves in relation to other equities. 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 OShares Europe moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OShares Europe Quality 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.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OShares Europe Quality. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. OShares |
The ability to find closely correlated positions to OShares Europe could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace OShares Europe 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 OShares Europe - 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 OShares Europe Quality to buy it.
Moving together with OShares Etf
| + | 0.99 | VGK | Vanguard FTSE Europe | PairCorr | ||
| + | 0.98 | EZU | IShares MSCI Eurozone | PairCorr | ||
| + | 0.99 | BBEU | JPMorgan BetaBuilders | PairCorr | ||
| + | 0.99 | IEUR | IShares Core MSCI | PairCorr | ||
| + | 0.97 | FEZ | SPDR EURO STOXX | PairCorr | ||
| + | 0.99 | IEV | IShares Europe ETF | PairCorr | ||
| + | 0.97 | HEDJ | WisdomTree Europe Hedged | PairCorr | ||
| + | 0.95 | DBEU | Xtrackers MSCI Europe | PairCorr | ||
| + | 0.98 | HEZU | IShares Currency Hedged | PairCorr | ||
| + | 0.97 | FEP | First Trust Europe | PairCorr | ||
| + | 0.87 | CEFD | ETRACS Monthly Pay | PairCorr | ||
| + | 0.81 | PFFL | ETRACS 2xMonthly Pay | PairCorr | ||
| + | 0.84 | ULE | ProShares Ultra Euro | PairCorr | ||
| + | 0.84 | FXA | Invesco CurrencyShares | PairCorr | ||
| + | 0.93 | FXB | Invesco CurrencyShares | PairCorr |
Moving against OShares Etf
Related Correlations Analysis
MBCC | DIHP | DJAN | MDLV | DJUL | DJUN | SH | VV | DMAR | ||
MBCC | 0.95 | 0.95 | 0.75 | 0.96 | 0.93 | -0.93 | 0.96 | 0.94 | MBCC | |
DIHP | 0.95 | 0.94 | 0.85 | 0.97 | 0.94 | -0.97 | 0.97 | 0.91 | DIHP | |
DJAN | 0.95 | 0.94 | 0.67 | 0.98 | 0.94 | -0.92 | 0.98 | 0.99 | DJAN | |
MDLV | 0.75 | 0.85 | 0.67 | 0.77 | 0.77 | -0.84 | 0.77 | 0.61 | MDLV | |
DJUL | 0.96 | 0.97 | 0.98 | 0.77 | 0.97 | -0.97 | 1.0 | 0.95 | DJUL | |
DJUN | 0.93 | 0.94 | 0.94 | 0.77 | 0.97 | -0.94 | 0.96 | 0.91 | DJUN | |
SH | -0.93 | -0.97 | -0.92 | -0.84 | -0.97 | -0.94 | -0.98 | -0.88 | SH | |
VV | 0.96 | 0.97 | 0.98 | 0.77 | 1.0 | 0.96 | -0.98 | 0.96 | VV | |
DMAR | 0.94 | 0.91 | 0.99 | 0.61 | 0.95 | 0.91 | -0.88 | 0.96 | DMAR | |
MBCC | DIHP | DJAN | MDLV | DJUL | DJUN | SH | VV | DMAR |
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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 |
OShares Europe Constituents Risk-Adjusted Indicators
There is a big difference between OShares Etf performing well and OShares Europe 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 OShares Europe'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 | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| MBCC | 0.63 | 0.02 | 0.03 | 0.02 | 0.81 | 0.0286 | (0.66) | 1.45 | (1.38) | 3.24 | |
| DIHP | 0.62 | 0.02 | 0.02 | 0.01 | 0.71 | 0.0212 | (0.66) | 1.30 | (1.22) | 3.14 | |
| DJAN | 0.40 | 0.03 | 0.06 | 0.05 | 0.46 | 0.06 | (0.43) | 0.93 | (0.92) | 2.08 | |
| MDLV | 0.58 | (0.01) | 0.00 | (0.02) | 0.00 | (0.0122) | 0.00 | 1.16 | (1.03) | 2.91 | |
| DJUL | 0.35 | 0.01 | 0.03 | 0.01 | 0.43 | 0.0257 | (0.37) | 0.70 | (0.80) | 1.76 | |
| DJUN | 0.38 | 0.01 | 0.03 | 0.08 | 0.45 | 0.0322 | (0.41) | 0.85 | (0.82) | 1.79 | |
| SH | 0.61 | 0.00 | 0.01 | 0.00 | 0.74 | 0.0062 | (0.68) | 1.38 | (1.10) | 3.68 | |
| VV | 0.61 | 0.03 | 0.03 | 0.02 | 0.80 | 0.0315 | (0.59) | 1.25 | (1.39) | 2.72 | |
| DMAR | 0.29 | 0.03 | 0.07 | 0.06 | 0.28 | 0.07 | (0.36) | 0.76 | (0.75) | 1.50 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in OShares Europe without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Already Invested in OShares Europe Quality?
The danger of trading OShares Europe Quality is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of OShares Europe is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than OShares Europe. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile OShares Europe Quality is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether OShares Europe Quality is a strong investment it is important to analyze OShares Europe's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact OShares Europe's future performance. For an informed investment choice regarding OShares Etf, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OShares Europe Quality. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in metropolitan statistical area. You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
Complementary Tools for OShares Etf analysis
When running OShares Europe's price analysis, check to measure OShares Europe's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy OShares Europe is operating at the current time. Most of OShares Europe's value examination focuses on studying past and present price action to predict the probability of OShares Europe's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move OShares Europe's price. Additionally, you may evaluate how the addition of OShares Europe to your portfolios can decrease your overall portfolio volatility.
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The market value of OShares Europe Quality is measured differently than its book value, which is the value of OShares that is recorded on the company's balance sheet. Investors also form their own opinion of OShares Europe's value that differs from its market value or its book value, called intrinsic value, which is OShares Europe'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 OShares Europe's market value can be influenced by many factors that don't directly affect OShares Europe'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 OShares Europe's value and its price as these two are different measures arrived at by different means. Investors typically determine if OShares Europe is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, OShares Europe'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.