ACGR Correlations

ACGR Etf

65.12 0.93 1.41%

The current 90-days correlation between ACGR and Diamond Hill Funds is 0.22 (i.e., Modest diversification). The correlation of ACGR 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.

ACGR Correlation With Market

Modest diversification

The correlation between ACGR and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ACGR and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ACGR Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ACGR. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with ACGR Etf

0.98	VUG	Vanguard Growth Index	Pair Corr
0.99	IWF	iShares Russell 1000	Pair Corr
0.81	IVW	iShares SP 500	Pair Corr
0.8	SPYG	SPDR Portfolio SP	Pair Corr
0.75	IUSG	iShares Core SP	Pair Corr
0.99	VONG	Vanguard Russell 1000	Pair Corr
0.99	MGK	Vanguard Mega Cap	Pair Corr
0.99	VRGWX	Vanguard Russell 1000	Pair Corr
0.77	QQQM	Invesco NASDAQ 100	Pair Corr
0.99	IWY	iShares Russell Top	Pair Corr

Moving against ACGR Etf

0.44

Coca Cola Aggressive Push

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.32	-0.39	0.37	-0.35	-0.49	0.36	-0.04	-0.08	0.03	META
MSFT	0.32		0.35	-0.18	0.27	-0.04	-0.05	-0.1	-0.81	-0.68	MSFT
UBER	-0.39	0.35		-0.42	0.39	0.54	0.0	-0.03	-0.55	-0.39	UBER
F	0.37	-0.18	-0.42		-0.65	-0.24	0.1	0.26	0.44	0.47	F
T	-0.35	0.27	0.39	-0.65		0.62	-0.16	-0.21	-0.34	-0.55	T
A	-0.49	-0.04	0.54	-0.24	0.62		-0.14	0.06	-0.06	-0.34	A
CRM	0.36	-0.05	0.0	0.1	-0.16	-0.14		0.74	0.16	-0.24	CRM
JPM	-0.04	-0.1	-0.03	0.26	-0.21	0.06	0.74		0.35	-0.05	JPM
MRK	-0.08	-0.81	-0.55	0.44	-0.34	-0.06	0.16	0.35		0.68	MRK
XOM	0.03	-0.68	-0.39	0.47	-0.55	-0.34	-0.24	-0.05	0.68		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

JPM	+ 0.74	CRM
XOM	+ 0.68	MRK
A	+ 0.62	T
A	+ 0.54	UBER
XOM	+ 0.47	F
MRK	+ 0.44	F

High negative correlations

MRK	- 0.81	MSFT
XOM	- 0.68	MSFT
T	- 0.65	F
XOM	- 0.55	T
MRK	- 0.55	UBER
A	- 0.49	META

ACGR Competition Risk-Adjusted Indicators

There is a big difference between ACGR Etf performing well and ACGR 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 ACGR'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
META	1.49	0.17	0.12	0.22	1.28	(1.79)	3.43	(2.47)	6.38
MSFT	1.24	(0.29)	0.00	(1.12)	0.00	0.00	1.85	(2.70)	4.90
UBER	1.50	(0.30)	0.00	(0.34)	0.00	0.00	2.46	(3.82)	10.23
F	1.25	0.05	0.04	0.09	1.22	(1.52)	3.38	(2.35)	7.16
T	0.82	(0.05)	0.00	(0.10)	0.00	0.00	1.43	(1.54)	3.77
A	1.20	(0.22)	0.00	(0.11)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.58	(0.36)	0.00	(0.30)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.11	0.04	(0.01)	(0.50)	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.26	0.30	0.21	0.47	1.14	(1.53)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.18	0.45	0.96	(1.23)	2.38	(1.51)	5.82

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