VanEck Defense Correlations

DFNG Etf

43.26 0.03 0.07%

The correlation of VanEck Defense 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.

VanEck Defense Correlation With Market

Average diversification

The correlation between VanEck Defense ETF and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Defense ETF and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to VanEck Defense could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace VanEck Defense 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 VanEck Defense - 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 VanEck Defense ETF to buy it.

Moving together with VanEck Etf

0.66	TSM3	Leverage Shares 3x	Pair Corr
0.93	QQQ5	Leverage Shares 5x	Pair Corr
0.93	5QQE	Leverage Shares 5x	Pair Corr
0.62	5QQQ	Leverage Shares 5x	Pair Corr
0.72	JGRN	JPM Green Social	Pair Corr
0.75	VWCG	Vanguard FTSE Developed	Pair Corr
0.82	EUHD	PowerShares EURO STOXX	Pair Corr
0.68	CESG	FIRST TRUST GLOBAL	Pair Corr
0.89	CBND	Goldman Sachs Access	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.81	0.54	0.92	0.25	0.93	0.23	0.54	META
MSFT	0.98		0.86	0.84	0.5	0.88	0.25	0.95	0.24	0.53	MSFT
UBER	0.84	0.86		0.9	0.4	0.8	0.52	0.88	0.21	0.48	UBER
F	0.81	0.84	0.9		0.39	0.84	0.24	0.91	0.43	0.7	F
T	0.54	0.5	0.4	0.39		0.51	0.15	0.49	0.27	0.21	T
A	0.92	0.88	0.8	0.84	0.51		0.16	0.89	0.33	0.66	A
CRM	0.25	0.25	0.52	0.24	0.15	0.16		0.19	-0.27	-0.14	CRM
JPM	0.93	0.95	0.88	0.91	0.49	0.89	0.19		0.3	0.6	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.33	-0.27	0.3		0.55	MRK
XOM	0.54	0.53	0.48	0.7	0.21	0.66	-0.14	0.6	0.55		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

MSFT	+ 0.98	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.27	CRM
XOM	- 0.14	CRM

VanEck Defense Competition Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck Defense 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 VanEck Defense'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	1.50	0.30	0.24	0.36	1.02	(1.80)	3.99	(2.35)	10.48
MSFT	0.89	0.31	0.27	0.48	0.52	(1.06)	2.33	(1.08)	8.85
UBER	1.63	0.19	0.12	0.32	1.40	(2.06)	4.19	(2.54)	10.87
F	1.29	0.20	0.10	0.41	1.39	(1.42)	2.69	(2.33)	7.46
T	1.03	(0.05)	(0.09)	0.02	1.34	(1.08)	2.35	(2.35)	5.71
A	1.46	0.18	0.00	(0.42)	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.14)	(0.05)	0.04	1.71	(1.31)	2.95	(3.19)	9.31
JPM	0.90	0.35	0.18	(2.74)	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.38	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.06	(0.03)	0.46	1.38	(1.13)	2.40	(2.58)	6.28

Be your own money manager

Our tools can tell you how much better you can do entering a position in VanEck Defense 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.

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