Ocean Park Correlations

DUKH Etf

USD 23.95 0.09 0.38%

The current 90-days correlation between Ocean Park High and BondBloxx ETF Trust is 0.25 (i.e., Modest diversification). The correlation of Ocean Park 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.

Ocean Park Correlation With Market

Poor diversification

The correlation between Ocean Park High and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Ocean Park High and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Ocean Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Ocean Park High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Ocean Etf

0.63	HYG	iShares iBoxx High	Pair Corr
0.69	JNK	SPDR Bloomberg High	Pair Corr
0.68	SHYG	iShares 0 5	Pair Corr
0.63	HYLB	Xtrackers USD High	Pair Corr
0.71	SJNK	SPDR Bloomberg Short	Pair Corr
0.78	ANGL	VanEck Fallen Angel	Pair Corr
0.8	FALN	iShares Fallen Angels	Pair Corr
0.82	ITDD	iShares Trust	Pair Corr

Moving against Ocean Etf

0.82	ULE	ProShares Ultra Euro	Pair Corr
0.82	BWX	SPDR Bloomberg Inter	Pair Corr
0.81	IAUM	iShares Gold Trust Potential Growth	Pair Corr
0.81	GLDM	SPDR Gold MiniShares Potential Growth	Pair Corr
0.7	XTWO	Bondbloxx ETF Trust	Pair Corr
0.6	ZBIO	Zenas BioPharma, Common	Pair Corr
0.5	SLQD	iShares 0 5	Pair Corr
0.38	USAF	Atlas America	Pair Corr
0.33	IDLV	Invesco SP International	Pair Corr
0.81	IAU	iShares Gold Trust Potential Growth	Pair Corr
0.78	RING	iShares MSCI Global	Pair Corr
0.69	UVIX	2x Long VIX	Pair Corr
0.68	STIP	iShares 0 5	Pair Corr
0.54	SMDD	ProShares UltraPro Short	Pair Corr
0.5	IBIG	iShares Trust	Pair Corr
0.42	TYA	Simplify Exchange Traded	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.77	0.19	-0.33	-0.66	0.94	0.95	0.86	0.49	0.17	META
MSFT	0.77		0.36	0.0	-0.5	0.72	0.82	0.76	0.34	0.02	MSFT
UBER	0.19	0.36		0.08	0.34	-0.04	0.05	0.35	-0.24	0.16	UBER
F	-0.33	0.0	0.08		0.43	-0.25	-0.24	-0.3	0.27	0.48	F
T	-0.66	-0.5	0.34	0.43		-0.76	-0.77	-0.49	-0.35	0.29	T
A	0.94	0.72	-0.04	-0.25	-0.76		0.97	0.82	0.62	0.2	A
CRM	0.95	0.82	0.05	-0.24	-0.77	0.97		0.86	0.51	0.11	CRM
JPM	0.86	0.76	0.35	-0.3	-0.49	0.82	0.86		0.25	0.13	JPM
MRK	0.49	0.34	-0.24	0.27	-0.35	0.62	0.51	0.25		0.44	MRK
XOM	0.17	0.02	0.16	0.48	0.29	0.2	0.11	0.13	0.44		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

CRM	+ 0.97	A
CRM	+ 0.95	META
A	+ 0.94	META
JPM	+ 0.86	META
JPM	+ 0.86	CRM
CRM	+ 0.82	MSFT

High negative correlations

CRM	- 0.77	T
A	- 0.76	T
T	- 0.66	META
T	- 0.5	MSFT
JPM	- 0.49	T
MRK	- 0.35	T

Ocean Park Competition Risk-Adjusted Indicators

There is a big difference between Ocean Etf performing well and Ocean Park 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 Ocean Park'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	2.27	0.04	0.00	(0.09)	0.00	0.00	4.00	(4.67)	21.50
MSFT	1.50	0.11	0.05	(0.01)	2.01	(1.50)	3.19	(3.34)	13.79
UBER	2.36	0.55	0.16	0.31	2.83	(2.44)	5.87	(4.21)	16.03
F	1.89	0.20	0.07	0.08	2.64	(1.92)	3.19	(3.88)	13.11
T	1.17	0.26	0.14	0.56	2.24	(1.15)	1.97	(3.02)	9.07
A	1.65	(0.31)	0.00	(0.38)	0.00	0.00	2.80	(5.45)	14.45
CRM	1.79	(0.22)	0.00	(0.30)	0.00	0.00	2.91	(4.51)	13.13
JPM	1.55	(0.07)	0.00	(0.43)	0.00	0.00	2.88	(4.15)	11.14
MRK	1.50	(0.18)	0.00	(0.52)	0.00	0.00	2.43	(4.81)	10.07
XOM	1.39	0.08	0.00	(0.01)	0.00	0.00	2.80	(3.21)	10.54

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