VanEck High Correlations

HYD Etf

USD 48.85 0.09 0.18%

The current 90-days correlation between VanEck High Yield and SPDR Nuveen Bloomberg is 0.85 (i.e., Very poor diversification). The correlation of VanEck High 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.

VanEck High Correlation With Market

Weak diversification

The correlation between VanEck High Yield and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck High Yield and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with VanEck Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in VanEck High Yield. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with VanEck Etf

0.83	FMHI	First Trust Municipal	Pair Corr
0.61	PMBS	PIMCO Mortgage Backed	Pair Corr
0.65	PCRB	Putnam ETF Trust	Pair Corr
0.61	LKOR	FlexShares Credit	Pair Corr
0.62	VCLT	Vanguard Long Term	Pair Corr

Moving against VanEck Etf

0.32	VXX	iPath Series B	Pair Corr
0.32	VIXY	ProShares VIX Short	Pair Corr

Related Correlations Analysis

	HYMB	MUB	PZA	ITM	MLN
HYMB		0.84	0.32	0.8	0.43	HYMB
MUB	0.84		0.53	0.88	0.61	MUB
PZA	0.32	0.53		0.2	0.84	PZA
ITM	0.8	0.88	0.2		0.24	ITM
MLN	0.43	0.61	0.84	0.24		MLN
	HYMB	MUB	PZA	ITM	MLN

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VanEck High Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck High 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 High'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
HYMB	0.23	(0.01)	(0.47)	0.02	0.24	(0.25)	0.46	(0.41)	1.19
MUB	0.17	(0.01)	(0.55)	0.04	0.19	(0.18)	0.37	(0.33)	0.86
PZA	0.25	(0.01)	0.00	0.46	0.00	0.00	0.54	(0.58)	1.99
ITM	0.16	0.02	(0.53)	0.77	0.09	(0.17)	0.36	(0.34)	1.12
MLN	0.28	(0.03)	0.00	(0.25)	0.00	0.00	0.66	(0.72)	1.79

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