Sprott Junior Correlations

COPJ Etf

23.74 0.29 1.24%

The current 90-days correlation between Sprott Junior Copper and Sprott Lithium Miners is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Sprott Junior moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Sprott Junior Copper moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Sprott Junior Correlation With Market

Modest diversification

The correlation between Sprott Junior Copper and DJI is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Sprott Junior Copper and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Sprott Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Sprott Junior Copper. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Sprott Etf

0.73	XLB	Materials Select Sector	Pair Corr
0.74	VAW	Vanguard Materials Index	Pair Corr
0.86	XME	SPDR SP Metals	Pair Corr
0.74	PHO	Invesco Water Resources	Pair Corr
0.8	MOO	VanEck Agribusiness ETF	Pair Corr
0.72	FXZ	First Trust Materials	Pair Corr
0.73	FIW	First Trust Water	Pair Corr
0.81	URNM	Sprott Uranium Miners	Pair Corr
0.77	IYM	iShares Basic Materials	Pair Corr
0.68	JNUG	Direxion Daily Junior	Pair Corr
0.8	CGIE	Capital Group Intern	Pair Corr
0.73	WTMF	WisdomTree Managed	Pair Corr
0.81	IPAC	iShares Core MSCI	Pair Corr
0.83	EURL	Direxion Daily FTSE	Pair Corr
0.78	DVQQ	WEBs Defined Volatility	Pair Corr
0.79	AGEM	abrdn Emerging Markets	Pair Corr
0.79	DCPE	DoubleLine Shiller CAPE	Pair Corr
0.67	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.7	OBND	SSGA Active Trust	Pair Corr
0.75	QGRW	WisdomTree Trust	Pair Corr
0.75	GSIG	Goldman Sachs Access	Pair Corr
0.75	FMAY	First Trust Exchange	Pair Corr
0.76	IHY	VanEck International High	Pair Corr
0.77	BLLD	JPMorgan	Pair Corr
0.78	PWRD	Perfect World Symbol Change	Pair Corr
0.79	GLOF	iShares MSCI Global	Pair Corr
0.62	ARKB	ARK 21Shares Bitcoin	Pair Corr

Moving against Sprott Etf

0.73	EV	NEOS Investment Mana	Pair Corr
0.68	ARKC	ARK 21Shares Active Low Volatility	Pair Corr
0.62	WTID	UBS ETRACS	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.91	0.74	0.81	0.47	0.67	0.53	0.9	-0.17	0.13	META
MSFT	0.91		0.89	0.84	0.54	0.37	0.43	0.94	-0.47	-0.17	MSFT
UBER	0.74	0.89		0.89	0.46	0.26	0.61	0.91	-0.51	-0.19	UBER
F	0.81	0.84	0.89		0.49	0.56	0.7	0.9	-0.21	0.17	F
T	0.47	0.54	0.46	0.49		0.25	0.14	0.58	-0.17	0.13	T
A	0.67	0.37	0.26	0.56	0.25		0.6	0.47	0.55	0.7	A
CRM	0.53	0.43	0.61	0.7	0.14	0.6		0.54	0.17	0.31	CRM
JPM	0.9	0.94	0.91	0.9	0.58	0.47	0.54		-0.38	0.03	JPM
MRK	-0.17	-0.47	-0.51	-0.21	-0.17	0.55	0.17	-0.38		0.72	MRK
XOM	0.13	-0.17	-0.19	0.17	0.13	0.7	0.31	0.03	0.72		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	+ 0.94	MSFT
MSFT	+ 0.91	META
JPM	+ 0.91	UBER
JPM	+ 0.9	META
JPM	+ 0.9	F
UBER	+ 0.89	MSFT

High negative correlations

MRK	- 0.51	UBER
MRK	- 0.47	MSFT
MRK	- 0.38	JPM
MRK	- 0.21	F
XOM	- 0.19	UBER
MRK	- 0.17	T

Sprott Junior Competition Risk-Adjusted Indicators

There is a big difference between Sprott Etf performing well and Sprott Junior 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 Sprott Junior'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	2.11	0.23	0.08	0.16	2.52	(2.36)	4.23	(4.29)	21.50
MSFT	1.23	0.32	0.20	0.33	1.19	(1.34)	2.40	(2.36)	13.79
UBER	1.90	0.22	0.09	0.18	2.28	(2.09)	4.19	(3.48)	16.18
F	1.69	0.10	0.04	0.12	2.24	(1.72)	2.90	(3.84)	13.07
T	1.15	0.06	0.03	0.22	1.77	(1.16)	2.01	(2.62)	8.83
A	1.78	(0.08)	0.00	(0.05)	0.00	0.00	2.76	(4.15)	14.45
CRM	1.59	(0.12)	0.00	(0.08)	0.00	0.00	3.01	(3.64)	13.13
JPM	1.32	0.24	0.11	0.23	1.95	(1.38)	2.75	(2.12)	11.14
MRK	1.62	(0.25)	0.00	(0.34)	0.00	0.00	2.55	(4.72)	10.58
XOM	1.28	0.00	0.00	0.02	2.24	(1.20)	2.62	(2.77)	10.53

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