ZEGA Buy Correlations
| ZHDG Etf | USD 16.99 0.03 0.18% |
The correlation of ZEGA Buy 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 ZEGA Buy moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ZEGA Buy And 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 ZEGA Buy And. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in employment. ZEGA |
The ability to find closely correlated positions to ZEGA Buy could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ZEGA Buy 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 ZEGA Buy - 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 ZEGA Buy And to buy it.
Moving together with ZEGA Etf
| + | 0.95 | VTI | Vanguard Total Stock | PairCorr | ||
| + | 0.96 | SPY | SPDR SP 500 | PairCorr | ||
| + | 0.96 | IVV | IShares Core SP | PairCorr | ||
| + | 0.93 | VIG | Vanguard Dividend | PairCorr | ||
| + | 0.96 | VV | Vanguard Large-Cap Index | PairCorr | ||
| + | 0.85 | RSP | Invesco SP 500 | PairCorr | ||
| + | 0.96 | IWB | IShares Russell 1000 | PairCorr | ||
| + | 0.96 | ESGU | IShares ESG Aware | PairCorr | ||
| + | 0.94 | DFAC | Dimensional US Core | PairCorr | ||
| + | 0.96 | SPLG | SPDR Portfolio SP | PairCorr | ||
| + | 0.74 | ROM | ProShares Ultra Tech | PairCorr | ||
| + | 0.86 | JKE | IShares Morningstar | PairCorr | ||
| + | 0.78 | PZD | Invesco MSCI Sustainable | PairCorr | ||
| + | 0.85 | QLD | ProShares Ultra QQQ | PairCorr | ||
| + | 0.84 | JKK | IShares Morningstar | PairCorr | ||
| + | 0.72 | TECL | Direxion Daily Technology | PairCorr | ||
| + | 0.82 | MMM | 3M Company | Report 24th of October 2023 | PairCorr | |
| + | 0.79 | BAC | Bank Of America | Report 17th of October 2023 | PairCorr |
Related Correlations Analysis
META | MSFT | UBER | F | T | A | CRM | JPM | MRK | XOM | ||
META | 0.24 | 0.54 | 0.04 | -0.34 | 0.25 | 0.52 | 0.62 | -0.7 | -0.06 | META | |
MSFT | 0.24 | 0.33 | 0.64 | 0.11 | 0.24 | 0.8 | 0.19 | 0.15 | -0.57 | MSFT | |
UBER | 0.54 | 0.33 | -0.25 | -0.23 | 0.02 | 0.63 | 0.4 | -0.4 | 0.26 | UBER | |
F | 0.04 | 0.64 | -0.25 | 0.52 | 0.12 | 0.38 | -0.04 | 0.3 | -0.63 | F | |
T | -0.34 | 0.11 | -0.23 | 0.52 | -0.4 | -0.11 | -0.52 | 0.53 | 0.13 | T | |
A | 0.25 | 0.24 | 0.02 | 0.12 | -0.4 | 0.28 | 0.72 | -0.12 | -0.62 | A | |
CRM | 0.52 | 0.8 | 0.63 | 0.38 | -0.11 | 0.28 | 0.39 | -0.21 | -0.37 | CRM | |
JPM | 0.62 | 0.19 | 0.4 | -0.04 | -0.52 | 0.72 | 0.39 | -0.57 | -0.33 | JPM | |
MRK | -0.7 | 0.15 | -0.4 | 0.3 | 0.53 | -0.12 | -0.21 | -0.57 | -0.13 | MRK | |
XOM | -0.06 | -0.57 | 0.26 | -0.63 | 0.13 | -0.62 | -0.37 | -0.33 | -0.13 | 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 |
ZEGA Buy Constituents Risk-Adjusted Indicators
There is a big difference between ZEGA Etf performing well and ZEGA Buy 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 ZEGA Buy'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 At@Risk | Maximum Drawdown | |
|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.52 | 0.12 | 0.07 | 0.08 | 1.73 | 0.06 | (1.67) | 3.25 | (2.73) | 8.08 |
| MSFT | 1.02 | (0.07) | 0.00 | (0.11) | 0.00 | (0.05) | 0.00 | 1.70 | (2.40) | 7.74 |
| UBER | 1.63 | 0.13 | 0.05 | 0.05 | 2.03 | 0.06 | (1.68) | 3.28 | (3.55) | 9.86 |
| F | 1.16 | (0.17) | 0.00 | (0.24) | 0.00 | (0.10) | 0.00 | 1.88 | (2.83) | 8.60 |
| T | 1.13 | (0.03) | 0.00 | (0.06) | 0.00 | (0.0131) | 0.00 | 2.24 | (2.18) | 11.03 |
| A | 1.08 | (0.04) | 0.00 | (0.08) | 0.00 | (0.0276) | 0.00 | 2.05 | (2.61) | 7.68 |
| CRM | 1.09 | (0.01) | 0.00 | (0.03) | 0.00 | (0.0119) | 0.00 | 2.76 | (2.07) | 6.63 |
| JPM | 0.77 | 0.12 | 0.12 | 0.08 | 0.86 | 0.12 | (0.81) | 1.94 | (1.24) | 6.04 |
| MRK | 0.93 | (0.10) | 0.00 | (0.17) | 0.00 | (0.08) | 0.00 | 1.76 | (1.74) | 5.93 |
| XOM | 1.06 | 0.24 | 0.16 | 0.23 | 1.25 | 0.17 | (1.06) | 2.10 | (1.83) | 5.53 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ZEGA Buy 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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The danger of trading ZEGA Buy And 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 ZEGA Buy 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 ZEGA Buy. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile ZEGA Buy And 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 ZEGA Buy And. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in employment. Note that the ZEGA Buy And information on this page should be used as a complementary analysis to other ZEGA Buy'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 Equity Forecasting module to use basic forecasting models to generate price predictions and determine price momentum.
Complementary Tools for ZEGA Etf analysis
When running ZEGA Buy's price analysis, check to measure ZEGA Buy'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 ZEGA Buy is operating at the current time. Most of ZEGA Buy's value examination focuses on studying past and present price action to predict the probability of ZEGA Buy's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ZEGA Buy's price. Additionally, you may evaluate how the addition of ZEGA Buy to your portfolios can decrease your overall portfolio volatility.
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The market value of ZEGA Buy And is measured differently than its book value, which is the value of ZEGA that is recorded on the company's balance sheet. Investors also form their own opinion of ZEGA Buy's value that differs from its market value or its book value, called intrinsic value, which is ZEGA Buy'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 ZEGA Buy's market value can be influenced by many factors that don't directly affect ZEGA Buy'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 ZEGA Buy's value and its price as these two are different measures arrived at by different means. Investors typically determine if ZEGA Buy is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ZEGA Buy'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.