Middlefield Global Correlations

MDIV Etf

18.04 0.04 0.22%

The current 90-days correlation between Middlefield Global and Global X Active is 0.22 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Middlefield Global moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Middlefield Global Dividend moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Middlefield Global Correlation With Market

Modest diversification

The correlation between Middlefield Global Dividend and DJI is 0.24 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Middlefield Global Dividend and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Middlefield Global could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Middlefield Global when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Middlefield Global - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Middlefield Global Dividend to buy it.

Moving together with Middlefield Etf

0.91	HAZ	Global X Active	Pair Corr
0.97	ZWG	BMO Global High	Pair Corr
0.95	CYH	iShares Global Monthly	Pair Corr
0.93	XDG	iShares Core MSCI	Pair Corr
0.97	BDIV	Brompton Global Dividend	Pair Corr
0.94	XDGH	iShares Core MSCI	Pair Corr
0.98	TQGD	TD Q Global	Pair Corr
0.9	FHE	First Trust Indxx	Pair Corr

Moving against Middlefield Etf

0.97	HQD	BetaPro NASDAQ 100	Pair Corr
0.97	HIU	BetaPro SP 500	Pair Corr
0.95	HXD	BetaPro SPTSX 60	Pair Corr
0.82	HED	BetaPro SPTSX Capped	Pair Corr

Related Correlations Analysis

	HAB	HAC	HAF	ZUAG-U	XHB	SOLR	PREM	ALA-PA	TKU	ERE-UN
HAB		0.67	0.71	0.44	0.87	0.0	0.54	0.6	0.01	0.07	HAB
HAC	0.67		0.8	0.61	0.89	0.0	0.61	0.95	0.44	0.47	HAC
HAF	0.71	0.8		0.67	0.83	0.0	0.52	0.74	0.2	0.29	HAF
ZUAG-U	0.44	0.61	0.67		0.52	0.0	0.59	0.51	0.27	0.47	ZUAG-U
XHB	0.87	0.89	0.83	0.52		0.0	0.55	0.84	0.16	0.2	XHB
SOLR	0.0	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	SOLR
PREM	0.54	0.61	0.52	0.59	0.55	0.0		0.49	0.27	0.39	PREM
ALA-PA	0.6	0.95	0.74	0.51	0.84	0.0	0.49		0.49	0.44	ALA-PA
TKU	0.01	0.44	0.2	0.27	0.16	0.0	0.27	0.49		0.51	TKU
ERE-UN	0.07	0.47	0.29	0.47	0.2	0.0	0.39	0.44	0.51		ERE-UN
	HAB	HAC	HAF	ZUAG-U	XHB	SOLR	PREM	ALA-PA	TKU	ERE-UN

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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

ALA-PA	+ 0.95	HAC
XHB	+ 0.89	HAC
XHB	+ 0.87	HAB
ALA-PA	+ 0.84	XHB
XHB	+ 0.83	HAF
HAF	+ 0.8	HAC

High negative correlations

ERE-UN	- 0.0	SOLR
TKU	- 0.0	SOLR
ALA-PA	- 0.0	SOLR
PREM	- 0.0	SOLR
SOLR	- 0.0	XHB
SOLR	- 0.0	ZUAG-U

Middlefield Global Constituents Risk-Adjusted Indicators

There is a big difference between Middlefield Etf performing well and Middlefield 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 Middlefield 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
HAB	0.25	0.01	(0.38)	0.04	0.29	(0.31)	0.68	(0.50)	1.87
HAC	0.20	0.07	(0.27)	(4.10)	0.00	(0.24)	0.57	(0.36)	1.15
HAF	0.35	0.02	(0.21)	0.32	0.36	(0.43)	0.86	(0.84)	2.15
ZUAG-U	0.16	0.00	(0.29)	1.26	0.19	(0.30)	0.47	(0.43)	1.61
XHB	0.20	0.02	(0.48)	2.39	0.13	(0.23)	0.46	(0.35)	1.13
SOLR	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
PREM	3.92	0.26	0.03	5.06	4.12	(5.25)	8.33	(6.25)	34.59
ALA-PA	0.58	0.31	0.27	5.60	0.00	(0.74)	1.53	(0.73)	4.74
TKU	7.33	1.93	0.00	3.33	0.00	0.00	50.00	0.00	133.33
ERE-UN	0.77	0.05	(0.08)	4.39	0.74	(1.04)	1.63	(1.59)	4.75

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Our tools can tell you how much better you can do entering a position in Middlefield Global without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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