ALPS Electrification Correlations

ELFY Etf

33.03 0.35 1.07%

The current 90-days correlation between ALPS Electrification and Vanguard Total Stock is 0.75 (i.e., Poor diversification). The correlation of ALPS Electrification 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.

ALPS Electrification Correlation With Market

Poor diversification

The correlation between ALPS Electrification Infrastru and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ALPS Electrification Infrastru and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ALPS Etf

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

Moving together with ALPS Etf

0.99	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.73	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.73	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.72	VTV	Vanguard Value Index	Pair Corr
0.73	VUG	Vanguard Growth Index	Pair Corr
0.71	VO	Vanguard Mid Cap	Pair Corr
0.75	VEA	Vanguard FTSE Developed	Pair Corr
0.71	VB	Vanguard Small Cap	Pair Corr
0.69	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.71	XOVR	ERShares Private Public Symbol Change	Pair Corr
0.89	GAICX	GATEWAY INTERNATIONAL	Pair Corr
0.99	HBTA	Horizon Funds	Pair Corr
0.89	AAIAX	AMERICAN BEACON INTE	Pair Corr
0.92	FDV	First Trust Capital	Pair Corr
0.98	BCHP	EGSHARES BLUE CHIP	Pair Corr
0.73	BUFD	FT Cboe Vest	Pair Corr
0.64	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.96	AXP	American Express	Pair Corr
0.82	CVX	Chevron Corp	Pair Corr
0.96	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.97	CAT	Caterpillar	Pair Corr
0.98	BAC	Bank of America	Pair Corr
0.94	BA	Boeing	Pair Corr
0.98	MSFT	Microsoft	Pair Corr
0.91	MMM	3M Company	Pair Corr
0.97	CSCO	Cisco Systems	Pair Corr
0.75	INTC	Intel Earnings Call This Week	Pair Corr
0.91	AA	Alcoa Corp	Pair Corr
0.89	DD	Dupont De Nemours	Pair Corr

Moving against ALPS Etf

0.65	MCD	McDonalds	Pair Corr
0.58	KO	Coca Cola Earnings Call This Week	Pair Corr
0.5	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	VTI	SPY	IVV	BND	VTV	VUG	VO	VEA	VB	VWO
VTI		0.76	0.75	0.43	0.75	0.75	0.74	0.78	0.74	0.72	VTI
SPY	0.76		1.0	0.58	0.98	1.0	0.99	0.97	0.99	0.98	SPY
IVV	0.75	1.0		0.59	0.98	1.0	0.99	0.97	0.99	0.98	IVV
BND	0.43	0.58	0.59		0.65	0.55	0.56	0.61	0.53	0.56	BND
VTV	0.75	0.98	0.98	0.65		0.97	0.98	0.95	0.98	0.96	VTV
VUG	0.75	1.0	1.0	0.55	0.97		0.99	0.97	0.98	0.98	VUG
VO	0.74	0.99	0.99	0.56	0.98	0.99		0.96	0.99	0.97	VO
VEA	0.78	0.97	0.97	0.61	0.95	0.97	0.96		0.93	0.96	VEA
VB	0.74	0.99	0.99	0.53	0.98	0.98	0.99	0.93		0.97	VB
VWO	0.72	0.98	0.98	0.56	0.96	0.98	0.97	0.96	0.97		VWO
	VTI	SPY	IVV	BND	VTV	VUG	VO	VEA	VB	VWO

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ALPS Electrification Constituents Risk-Adjusted Indicators

There is a big difference between ALPS Etf performing well and ALPS Electrification 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 ALPS Electrification'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
VTI	0.67	0.12	0.12	0.25	0.56	(0.77)	2.06	(1.18)	5.09
SPY	0.61	0.33	0.29	(4.31)	0.00	(0.75)	2.08	(0.84)	4.99
IVV	0.60	0.32	0.30	(5.13)	0.00	(0.75)	2.05	(0.82)	4.98
BND	0.24	0.02	(0.37)	(1.27)	0.22	(0.25)	0.47	(0.50)	1.18
VTV	0.56	0.20	0.07	(1.14)	0.33	(0.64)	1.49	(0.80)	4.05
VUG	0.76	0.42	0.43	17.31	0.00	(0.99)	2.51	(1.01)	5.66
VO	0.59	0.29	0.19	(1.87)	0.31	(0.72)	1.69	(0.82)	4.85
VEA	0.52	0.20	0.08	(1.52)	0.36	(0.59)	1.32	(1.00)	3.22
VB	0.79	0.31	0.18	(1.94)	0.59	(0.98)	2.32	(1.10)	6.49
VWO	0.55	0.24	0.16	(200.03)	0.26	(0.66)	1.57	(1.16)	4.17

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