Zillow Group Correlations
| Z Etf | USD 42.29 0.37 0.88% |
The correlation of Zillow Group 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 Zillow Group moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Zillow Group Class 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 Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zillow Group Class. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in nation. Zillow |
The ability to find closely correlated positions to Zillow Group could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Zillow Group 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 Zillow Group - 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 Zillow Group Class to buy it.
Moving together with Zillow Etf
| + | 0.9 | OB | Outbrain | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.72 | TC | TuanChe ADR | PairCorr | ||
| + | 0.67 | WB | Weibo Corp | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.78 | DOYU | DouYu International | Financial Report 18th of March 2024 | PairCorr | |
| + | 0.93 | IAC | IAC Inc | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.69 | ROI | RiskOn International | Symbol Change | PairCorr | |
| + | 0.83 | SLE | Super League Enterprise | Symbol Change | PairCorr | |
| + | 0.83 | GENI | Genius Sports | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.76 | GROM | Grom Social Enterprises | Fiscal Quarter End 31st of December 2023 | PairCorr |
Moving against Zillow Etf
| - | 0.78 | EVER | EverQuote Class A | Upward Rally | PairCorr | |
| - | 0.74 | YY | YY Inc Class | Financial Report 20th of March 2024 | PairCorr | |
| - | 0.74 | MAX | MediaAlpha | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.54 | TME | Tencent Music Entert | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| - | 0.55 | META | Meta Platforms | Fiscal Quarter End 31st of December 2023 | PairCorr |
Related Correlations Analysis
META | MSFT | UBER | F | T | A | CRM | JPM | MRK | XOM | ||
META | 0.82 | 0.77 | -0.56 | 0.71 | 0.2 | 0.41 | 0.63 | -0.68 | -0.61 | META | |
MSFT | 0.82 | 0.86 | -0.78 | 0.81 | 0.26 | 0.58 | 0.55 | -0.49 | -0.73 | MSFT | |
UBER | 0.77 | 0.86 | -0.44 | 0.64 | 0.54 | 0.78 | 0.78 | -0.3 | -0.41 | UBER | |
F | -0.56 | -0.78 | -0.44 | -0.77 | 0.19 | -0.08 | -0.04 | 0.63 | 0.86 | F | |
T | 0.71 | 0.81 | 0.64 | -0.77 | 0.0 | 0.22 | 0.37 | -0.64 | -0.63 | T | |
A | 0.2 | 0.26 | 0.54 | 0.19 | 0.0 | 0.72 | 0.73 | 0.27 | 0.04 | A | |
CRM | 0.41 | 0.58 | 0.78 | -0.08 | 0.22 | 0.72 | 0.7 | 0.2 | -0.07 | CRM | |
JPM | 0.63 | 0.55 | 0.78 | -0.04 | 0.37 | 0.73 | 0.7 | -0.09 | -0.14 | JPM | |
MRK | -0.68 | -0.49 | -0.3 | 0.63 | -0.64 | 0.27 | 0.2 | -0.09 | 0.54 | MRK | |
XOM | -0.61 | -0.73 | -0.41 | 0.86 | -0.63 | 0.04 | -0.07 | -0.14 | 0.54 | XOM | |
META | MSFT | UBER | F | T | A | CRM | JPM | MRK | XOM |
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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 |
Zillow Group Competition Risk-Adjusted Indicators
There is a big difference between Zillow Etf performing well and Zillow Group 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 Zillow Group'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.36 | 0.26 | 0.14 | 0.26 | 1.52 | 0.15 | (1.45) | 2.91 | (2.92) | 7.66 | |
| MSFT | 1.02 | 0.25 | 0.17 | 0.42 | 1.14 | 0.19 | (1.08) | 2.35 | (2.40) | 6.82 | |
| UBER | 1.65 | 0.37 | 0.17 | 0.22 | 1.90 | 0.18 | (1.72) | 3.60 | (4.09) | 8.97 | |
| F | 1.48 | (0.19) | 0.00 | (0.10) | 0.00 | (0.08) | 0.00 | 2.32 | (2.45) | 15.06 | |
| T | 1.14 | 0.23 | 0.18 | 0.33 | 1.05 | 0.15 | (1.31) | 3.00 | (2.17) | 9.36 | |
| A | 1.36 | 0.06 | 0.04 | 0.07 | 1.61 | 0.0337 | (1.40) | 2.80 | (2.78) | 9.99 | |
| CRM | 0.96 | 0.10 | 0.07 | 0.11 | 1.16 | 0.08 | (1.01) | 2.13 | (2.07) | 6.49 | |
| JPM | 0.73 | 0.06 | 0.06 | 0.08 | 0.93 | 0.06 | (0.77) | 1.54 | (1.36) | 5.54 | |
| MRK | 0.73 | (0.14) | 0.00 | (0.45) | 0.00 | (0.16) | 0.00 | 1.36 | (1.93) | 4.82 | |
| XOM | 1.13 | (0.05) | 0.00 | (0.08) | 0.00 | (0.0368) | 0.00 | 3.18 | (1.91) | 7.07 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Zillow Group 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 Zillow Group Class?
The danger of trading Zillow Group Class 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 Zillow Group 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 Zillow Group. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Zillow Group Class 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.
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Zillow Group Class. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in nation. For more information on how to buy Zillow Etf please use our How to Invest in Zillow Group guide.Note that the Zillow Group Class information on this page should be used as a complementary analysis to other Zillow Group's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Portfolio Backtesting module to avoid under-diversification and over-optimization by backtesting your portfolios.
Complementary Tools for Zillow Etf analysis
When running Zillow Group's price analysis, check to measure Zillow Group'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 Zillow Group is operating at the current time. Most of Zillow Group's value examination focuses on studying past and present price action to predict the probability of Zillow Group's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Zillow Group's price. Additionally, you may evaluate how the addition of Zillow Group to your portfolios can decrease your overall portfolio volatility.
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The market value of Zillow Group Class is measured differently than its book value, which is the value of Zillow that is recorded on the company's balance sheet. Investors also form their own opinion of Zillow Group's value that differs from its market value or its book value, called intrinsic value, which is Zillow Group'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 Zillow Group's market value can be influenced by many factors that don't directly affect Zillow Group'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 Zillow Group's value and its price as these two are different measures arrived at by different means. Investors typically determine if Zillow Group is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Zillow Group'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.