OneAscent Small Correlations
OASC Etf | 26.87 0.40 1.51% |
The current 90-days correlation between OneAscent Small Cap and Dimensional ETF Trust is 0.46 (i.e., Very weak diversification). The correlation of OneAscent Small 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.
OneAscent Small Correlation With Market
Poor diversification
The correlation between OneAscent Small Cap and DJI is 0.68 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OneAscent Small Cap and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with OneAscent Etf
0.99 | VB | Vanguard Small Cap | PairCorr |
1.0 | IJR | iShares Core SP | PairCorr |
0.99 | IWM | iShares Russell 2000 | PairCorr |
0.99 | VRTIX | Vanguard Russell 2000 | PairCorr |
0.99 | VTWO | Vanguard Russell 2000 | PairCorr |
0.99 | FNDA | Schwab Fundamental Small | PairCorr |
1.0 | SPSM | SPDR Portfolio SP | PairCorr |
1.0 | DFAS | Dimensional Small Cap | PairCorr |
1.0 | VIOO | Vanguard SP Small | PairCorr |
0.99 | PRFZ | Invesco FTSE RAFI | PairCorr |
0.9 | DFEN | Direxion Daily Aerospace | PairCorr |
0.72 | MSTY | YieldMax MSTR Option | PairCorr |
0.81 | GRW | TCW Compounders ETF | PairCorr |
0.61 | IBM | International Business | PairCorr |
0.62 | CVX | Chevron Corp | PairCorr |
Moving against OneAscent Etf
0.84 | WTID | UBS ETRACS | PairCorr |
0.37 | SHNY | Microsectors Gold | PairCorr |
0.52 | MCD | McDonalds | PairCorr |
0.4 | TRV | The Travelers Companies | PairCorr |
Related Correlations Analysis
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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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OneAscent Small Competition Risk-Adjusted Indicators
There is a big difference between OneAscent Etf performing well and OneAscent Small 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 OneAscent Small'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 | 1.47 | 0.27 | 0.25 | 0.41 | 0.82 | 3.99 | 10.48 | |||
MSFT | 0.84 | 0.33 | 0.36 | 0.63 | 0.00 | 2.33 | 8.85 | |||
UBER | 1.60 | 0.05 | 0.05 | 0.25 | 1.44 | 4.19 | 10.87 | |||
F | 1.29 | 0.10 | 0.04 | 0.33 | 1.40 | 2.69 | 7.46 | |||
T | 1.00 | (0.02) | (0.12) | 0.14 | 1.30 | 2.35 | 5.71 | |||
A | 1.53 | (0.10) | 0.02 | 0.14 | 1.77 | 2.82 | 14.01 | |||
CRM | 1.30 | (0.17) | (0.04) | 0.09 | 1.64 | 2.95 | 9.31 | |||
JPM | 0.88 | 0.19 | 0.16 | 0.40 | 0.54 | 2.25 | 6.03 | |||
MRK | 1.40 | (0.08) | (0.04) | 0.13 | 1.82 | 2.90 | 10.58 | |||
XOM | 1.10 | (0.01) | (0.10) | 0.16 | 1.39 | 2.18 | 6.28 |