Robo Global Correlations
| HTEC Etf | USD 27.73 0.30 1.07% |
The current 90-days correlation between Robo Global Healthcare and Health Care Select is 0.8 (i.e., Very poor diversification). The correlation of Robo Global 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.
Robo Global Correlation With Market
Very poor diversification
The correlation between Robo Global Healthcare and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Robo Global Healthcare and DJI in the same portfolio, assuming nothing else is changed.
Moving together with Robo Etf
| 0.85 | IBB | iShares Biotechnology ETF | PairCorr |
| 0.86 | XBI | SPDR SP Biotech | PairCorr |
| 0.76 | IHI | iShares Medical Devices | PairCorr |
| 0.87 | ARKG | ARK Genomic Revolution | PairCorr |
| 0.77 | PMBS | PIMCO Mortgage Backed | PairCorr |
| 0.93 | ITDD | iShares Trust | PairCorr |
| 0.81 | EUSB | iShares Trust | PairCorr |
| 0.7 | KGRN | KraneShares MSCI China | PairCorr |
| 0.88 | VBF | Invesco Van Kampen | PairCorr |
| 0.9 | SRLN | SPDR Blackstone Senior | PairCorr |
| 0.92 | BUFD | FT Cboe Vest | PairCorr |
| 0.9 | SPIB | SPDR Barclays Interm | PairCorr |
| 0.82 | HIDE | Alpha Architect High | PairCorr |
| 0.89 | NFLX | Netflix Downward Rally | PairCorr |
| 0.87 | VABS | Virtus Newfleet ABSMBS | PairCorr |
| 0.87 | PFUT | Putnam Sustainable Future | PairCorr |
| 0.92 | CGGO | Capital Group Global | PairCorr |
| 0.9 | QTOC | Innovator ETFs Trust | PairCorr |
Moving against Robo Etf
Related Correlations Analysis
| -0.29 | 0.9 | 0.99 | 0.96 | 0.51 | XLV | ||
| -0.29 | 0.03 | -0.18 | -0.06 | -0.52 | IHI | ||
| 0.9 | 0.03 | 0.93 | 0.96 | 0.27 | IXJ | ||
| 0.99 | -0.18 | 0.93 | 0.98 | 0.43 | IYH | ||
| 0.96 | -0.06 | 0.96 | 0.98 | 0.32 | FHLC | ||
| 0.51 | -0.52 | 0.27 | 0.43 | 0.32 | IHF | ||
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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
| High negative correlations
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Robo Global Constituents Risk-Adjusted Indicators
There is a big difference between Robo Etf performing well and Robo Global 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 Robo Global'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| XLV | 0.89 | (0.19) | 0.00 | (0.08) | 0.00 | 1.42 | 5.48 | |||
| IHI | 0.69 | (0.03) | (0.07) | 0.10 | 0.74 | 2.03 | 4.82 | |||
| IXJ | 0.88 | (0.14) | 0.00 | (0.05) | 0.00 | 1.67 | 4.51 | |||
| IYH | 0.90 | (0.18) | 0.00 | (0.06) | 0.00 | 1.60 | 5.68 | |||
| FHLC | 0.87 | (0.16) | 0.00 | (0.05) | 0.00 | 1.47 | 5.37 | |||
| IHF | 1.18 | (0.51) | 0.00 | (0.33) | 0.00 | 1.51 | 9.08 |