Dimensional Marketwide Correlations

The current 90-days correlation between Dimensional Marketwide and Dimensional Targeted Value is 0.91 (i.e., Almost no diversification). The correlation of Dimensional Marketwide 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.

Dimensional Marketwide Correlation With Market

Poor diversification

The correlation between Dimensional Marketwide Value and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Dimensional Marketwide Value and DJI in the same portfolio, assuming nothing else is changed.

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Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Dimensional Etf

0.88	DGRO	iShares Core Dividend	Pair Corr
0.88	DVY	iShares Select Dividend	Pair Corr
0.88	SPYV	SPDR Portfolio SP	Pair Corr
0.88	IUSV	iShares Core SP	Pair Corr
0.85	NOBL	ProShares SP 500 Low Volatility	Pair Corr

Moving against Dimensional Etf

0.58	MCD	McDonalds	Pair Corr
0.32	WMT	Walmart	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.83	0.8	0.55	0.92	0.22	0.93	0.22	0.52	META
MSFT	0.98		0.86	0.84	0.5	0.86	0.22	0.96	0.27	0.51	MSFT
UBER	0.83	0.86		0.89	0.4	0.79	0.49	0.87	0.23	0.46	UBER
F	0.8	0.84	0.89		0.39	0.81	0.21	0.9	0.41	0.69	F
T	0.55	0.5	0.4	0.39		0.56	0.15	0.48	0.17	0.2	T
A	0.92	0.86	0.79	0.81	0.56		0.19	0.86	0.29	0.64	A
CRM	0.22	0.22	0.49	0.21	0.15	0.19		0.15	-0.28	-0.17	CRM
JPM	0.93	0.96	0.87	0.9	0.48	0.86	0.15		0.32	0.6	JPM
MRK	0.22	0.27	0.23	0.41	0.17	0.29	-0.28	0.32		0.51	MRK
XOM	0.52	0.51	0.46	0.69	0.2	0.64	-0.17	0.6	0.51		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	+ 0.96	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.9	F
F	+ 0.89	UBER

High negative correlations

MRK	- 0.28	CRM
XOM	- 0.17	CRM

Dimensional Marketwide Competition Risk-Adjusted Indicators

There is a big difference between Dimensional Etf performing well and Dimensional Marketwide 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 Dimensional Marketwide'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	1.47	0.31	0.27	0.41	0.82	(1.80)	3.99	(2.00)	10.48
MSFT	0.86	0.33	0.38	0.59	0.00	(1.06)	2.33	(1.03)	8.85
UBER	1.61	0.18	0.12	0.34	1.40	(2.02)	4.19	(2.54)	10.87
F	1.30	0.17	0.08	0.40	1.40	(1.42)	2.69	(2.33)	7.46
T	1.00	(0.02)	(0.10)	0.10	1.30	(1.05)	2.35	(2.35)	5.71
A	1.50	(0.07)	0.02	0.12	1.79	(1.57)	2.58	(2.89)	14.01
CRM	1.30	(0.15)	(0.04)	0.06	1.69	(1.29)	2.95	(3.19)	9.31
JPM	0.87	0.22	0.18	0.42	0.58	(0.99)	2.25	(1.31)	6.03
MRK	1.38	0.11	(0.06)	(0.10)	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.12	0.04	(0.06)	0.32	1.38	(1.11)	2.40	(2.58)	6.28

Dimensional Marketwide Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Dimensional Marketwide etf to make a market-neutral strategy. Peer analysis of Dimensional Marketwide could also be used in its relative valuation, which is a method of valuing Dimensional Marketwide by comparing valuation metrics with similar companies.

Dimensional Targeted Value Dimensional International Value Dimensional Core Equity Dimensional Small Cap Dimensional Equity ETF American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp Home Depot International Business Machines

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