Texas Capital Correlations

MMKT Etf

100.22 0.00 0.00%

The current 90-days correlation between Texas Capital Funds and Simplify Exchange Traded is 0.28 (i.e., Modest diversification). The correlation of Texas Capital 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.

Texas Capital Correlation With Market

Average diversification

The correlation between Texas Capital Funds and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Texas Capital Funds and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Texas Etf

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

Moving together with Texas Etf

0.68	AMPD	Tidal ETF Services	Pair Corr
0.74	PMBS	PIMCO Mortgage Backed	Pair Corr
0.96	ITDD	iShares Trust	Pair Corr
0.95	RFEM	First Trust RiverFront	Pair Corr
0.95	EPP	iShares MSCI Pacific	Pair Corr
0.93	WTMU	WisdomTree Core Laddered	Pair Corr
0.97	DEXC	Dimensional ETF Trust	Pair Corr
0.98	FTRI	First Trust Indxx	Pair Corr
0.99	FTSM	First Trust Enhanced	Pair Corr
0.95	SCHX	Schwab Large Cap	Pair Corr
0.95	BKUI	BNY Mellon ETF	Pair Corr
0.92	IWS	iShares Russell Mid	Pair Corr
0.96	PFM	Invesco Dividend Ach	Pair Corr
0.96	EEMA	iShares MSCI Emerging	Pair Corr
0.96	VEGA	AdvisorShares STAR Global	Pair Corr
0.93	WBIF	WBI BullBear Value	Pair Corr
0.91	DEUS	Xtrackers Russell	Pair Corr
0.91	IJS	iShares SP Small	Pair Corr
0.78	FLJP	Franklin FTSE Japan	Pair Corr
0.69	IMST	Bitwise Funds Trust	Pair Corr
0.95	SIXD	AIM ETF Products	Pair Corr
0.88	ASHR	Xtrackers Harvest CSI Aggressive Push	Pair Corr
0.95	DFUS	Dimensional Equity ETF	Pair Corr
0.87	CGIE	Capital Group Intern	Pair Corr
0.94	DIVP	Advisors Inner	Pair Corr
0.9	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.74	CMDY	iShares Bloomberg Roll	Pair Corr
0.97	ITA	iShares Aerospace Defense	Pair Corr
0.97	SOXX	iShares Semiconductor ETF	Pair Corr
0.93	ARMH	Precidian ETFs Trust	Pair Corr
0.99	VNLA	Janus Henderson Short	Pair Corr
0.91	KLDW	Knowledge Leaders	Pair Corr
0.95	PEXL	Pacer Export Leaders	Pair Corr
0.99	GBIL	Goldman Sachs Access	Pair Corr
0.97	PWRD	TCW Transform Systems Symbol Change	Pair Corr
0.96	HAUZ	Xtrackers International	Pair Corr
0.65	IBTJ	iShares iBonds Dec	Pair Corr

Moving against Texas Etf

0.48

KBAB

KraneShares 2x Long

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.56	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.55	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.5	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.72	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.22	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.67	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.11	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.64	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.55	MRK
XOM	0.56	0.55	0.5	0.72	0.22	0.67	-0.11	0.64	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	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.11	CRM

Texas Capital Competition Risk-Adjusted Indicators

There is a big difference between Texas Etf performing well and Texas Capital 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 Texas Capital'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	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.05	(0.04)	0.41	1.36	(1.15)	2.40	(2.58)	5.84

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