Roundhill Magnificent Correlations

MAGS Etf

USD 55.93 0.50 0.90%

The current 90-days correlation between Roundhill Magnificent and iShares Dividend and is -0.21 (i.e., Very good diversification). The correlation of Roundhill Magnificent 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.

Roundhill Magnificent Correlation With Market

Good diversification

The correlation between Roundhill Magnificent Seven and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Magnificent Seven and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Roundhill Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Roundhill Magnificent Seven. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with Roundhill Etf

0.99	VGT	Vanguard Information	Pair Corr
0.83	XLK	Technology Select Sector	Pair Corr
0.83	IYW	iShares Technology ETF	Pair Corr
0.98	SMH	VanEck Semiconductor ETF	Pair Corr
0.97	SOXX	iShares Semiconductor ETF	Pair Corr
0.98	CIBR	First Trust NASDAQ	Pair Corr
0.83	FTEC	Fidelity MSCI Information	Pair Corr
0.97	IGV	iShares Expanded Tech	Pair Corr
0.99	FDN	First Trust Dow	Pair Corr
0.82	IGM	iShares Expanded Tech	Pair Corr
0.81	USD	ProShares Ultra Semi	Pair Corr
0.69	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.8	FNGO	MicroSectors FANG Index	Pair Corr
0.87	DUSL	Direxion Daily Indus	Pair Corr
0.83	DFEN	Direxion Daily Aerospace	Pair Corr
0.68	DIG	ProShares Ultra Oil	Pair Corr
0.89	SPXL	Direxion Daily SP500	Pair Corr
0.89	UPRO	ProShares UltraPro SP500	Pair Corr
0.82	XB	BondBloxx ETF Trust	Pair Corr
0.83	PHB	Invesco Fundamental High	Pair Corr
0.85	ESGS	Columbia Sustainable	Pair Corr
0.93	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.82	DHSB	Strategy Shares	Pair Corr
0.77	EMPB	Efficient Market Por	Pair Corr
0.77	MSFT	Microsoft	Pair Corr
0.86	DIS	Walt Disney	Pair Corr
0.7	T	ATT Inc	Pair Corr
0.81	JPM	JPMorgan Chase	Pair Corr
0.61	CVX	Chevron Corp	Pair Corr
0.62	HD	Home Depot Sell-off Trend	Pair Corr
0.88	CAT	Caterpillar Sell-off Trend	Pair Corr
0.87	MMM	3M Company	Pair Corr
0.82	AXP	American Express	Pair Corr

Moving against Roundhill Etf

0.34

MCD

McDonalds Sell-off Trend

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.83	0.84	0.63	0.9	0.52	0.94	-0.11	0.33	META
MSFT	0.97		0.9	0.87	0.63	0.82	0.56	0.95	-0.23	0.22	MSFT
UBER	0.83	0.9		0.9	0.55	0.72	0.77	0.91	-0.29	0.16	UBER
F	0.84	0.87	0.9		0.65	0.83	0.66	0.92	-0.05	0.42	F
T	0.63	0.63	0.55	0.65		0.72	0.31	0.67	0.29	0.45	T
A	0.9	0.82	0.72	0.83	0.72		0.49	0.87	0.19	0.61	A
CRM	0.52	0.56	0.77	0.66	0.31	0.49		0.57	-0.18	0.14	CRM
JPM	0.94	0.95	0.91	0.92	0.67	0.87	0.57		-0.13	0.36	JPM
MRK	-0.11	-0.23	-0.29	-0.05	0.29	0.19	-0.18	-0.13		0.55	MRK
XOM	0.33	0.22	0.16	0.42	0.45	0.61	0.14	0.36	0.55		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	+ 0.97	META
JPM	+ 0.95	MSFT
JPM	+ 0.94	META
JPM	+ 0.92	F
JPM	+ 0.91	UBER
A	+ 0.9	META

High negative correlations

MRK	- 0.29	UBER
MRK	- 0.23	MSFT
MRK	- 0.18	CRM
MRK	- 0.13	JPM
MRK	- 0.11	META
MRK	- 0.05	F

Roundhill Magnificent Competition Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill Magnificent 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 Roundhill Magnificent'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	2.05	0.22	0.10	0.24	2.31	(2.34)	4.23	(3.68)	21.50
MSFT	1.20	0.34	0.23	0.45	0.94	(1.38)	2.40	(2.36)	13.79
UBER	1.97	0.28	0.13	0.31	2.17	(2.32)	5.87	(3.48)	16.18
F	1.69	0.19	0.08	0.31	2.21	(1.80)	3.70	(3.74)	13.07
T	1.18	(0.01)	(0.04)	0.07	1.89	(1.11)	2.36	(2.62)	8.47
A	1.76	(0.05)	(0.01)	0.07	2.46	(1.75)	2.76	(4.15)	14.46
CRM	1.57	(0.08)	(0.03)	0.04	2.26	(1.53)	3.01	(3.64)	13.13
JPM	1.26	0.20	0.09	0.29	1.93	(1.30)	2.75	(1.75)	11.14
MRK	1.58	(0.21)	0.00	(0.17)	0.00	0.00	3.35	(4.58)	10.58
XOM	1.41	(0.14)	0.00	(0.08)	0.00	0.00	2.62	(3.04)	10.53

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