Multi Units Correlations
| CB5 Etf | 4,044 16.25 0.40% |
The current 90-days correlation between Multi Units Luxembourg and Multi Units Luxembourg is 0.08 (i.e., Significant diversification). The correlation of Multi Units 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.
Multi Units Correlation With Market
Weak diversification
The correlation between Multi Units Luxembourg and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Multi Units Luxembourg and DJI in the same portfolio, assuming nothing else is changed.
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The ability to find closely correlated positions to Multi Units could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Multi Units 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 Multi Units - 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 Multi Units Luxembourg to buy it.
Moving together with Multi Etf
| 0.96 | VWCG | Vanguard FTSE Developed | PairCorr |
| 0.92 | AASG | Amundi Index Solutions | PairCorr |
| 0.93 | AASU | Amundi Index Solutions | PairCorr |
| 0.94 | 1AMZ | LS 1x Amazon | PairCorr |
| 0.81 | 2GOO | Leverage Shares 2x | PairCorr |
| 0.84 | 2AMD | Leverage Shares 2x | PairCorr |
| 0.98 | EUHD | PowerShares EURO STOXX | PairCorr |
| 0.9 | SMH3 | Leverage Shares 3x | PairCorr |
| 0.85 | CESG | FIRST TRUST GLOBAL | PairCorr |
| 0.97 | HPUD | HSBC MSCI USA | PairCorr |
| 0.96 | JPCT | JPM Carbon Transition | PairCorr |
| 0.96 | XCTU | Xtrackers MSCI Japan | PairCorr |
| 0.96 | BRLA | BlackRock Latin American | PairCorr |
| 0.62 | EHYB | Invesco Euro Corporate | PairCorr |
| 0.96 | 5QQQ | Leverage Shares 5x | PairCorr |
| 0.93 | NATP | HANetf ICAV | PairCorr |
| 0.89 | SMTC | Multi Units Luxembourg | PairCorr |
| 0.8 | LALU | WisdomTree Aluminium | PairCorr |
| 0.7 | ZINC | WisdomTree Zinc | PairCorr |
| 0.61 | JGRN | JPM Green Social | PairCorr |
| 0.95 | AIQG | GLOBAL X ETFS | PairCorr |
| 0.72 | GIN | SPDR Morningstar Multi | PairCorr |
| 0.92 | YIEL | Amundi EUR High | PairCorr |
| 0.89 | 3LVP | GraniteShares 3x Long | PairCorr |
| 0.74 | OIHV | VanEck Oil Services | PairCorr |
| 0.9 | NVD3 | Leverage Shares 3x | PairCorr |
| 0.9 | CBND | Goldman Sachs Access | PairCorr |
| 0.93 | MSF2 | Leverage Shares 2x | PairCorr |
| 0.84 | SEML | iShares JP Morgan | PairCorr |
| 0.95 | IEDY | iShares EM Dividend | PairCorr |
| 0.86 | REUG | VanEck Circular Economy | PairCorr |
| 0.95 | HSPX | HSBC SP 500 | PairCorr |
| 0.89 | TSM3 | Leverage Shares 3x | PairCorr |
| 0.84 | 3NFE | Leverage Shares 3x | PairCorr |
| 0.84 | 3NFL | Leverage Shares 3x | PairCorr |
| 0.66 | ARCG | ARK Genomic Revolution | PairCorr |
| 0.94 | EXUS | Xtrackers MSCI World | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
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Multi Units Constituents Risk-Adjusted Indicators
There is a big difference between Multi Etf performing well and Multi Units 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 Multi Units' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SMTC | 0.02 | 0.01 | (2.82) | 1.82 | 0.00 | 0.08 | 0.14 | |||
| CECD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| 0XCK | 0.58 | 0.26 | 0.24 | 3.30 | 0.00 | 1.75 | 3.83 | |||
| CB5 | 0.86 | 0.21 | 0.11 | 0.66 | 0.78 | 2.00 | 5.57 | |||
| DISW | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| THAG | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| INRL | 0.70 | 0.08 | (0.07) | (2.00) | 0.81 | 1.60 | 6.71 | |||
| LAUS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CH5 | 0.89 | (0.02) | (0.10) | 0.08 | 1.06 | 1.64 | 4.34 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Multi Units 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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