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.
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OneAscent Small Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with OneAscent Etf

  0.99VB Vanguard Small CapPairCorr
  1.0IJR iShares Core SPPairCorr
  0.99IWM iShares Russell 2000PairCorr
  0.99VRTIX Vanguard Russell 2000PairCorr
  0.99VTWO Vanguard Russell 2000PairCorr
  0.99FNDA Schwab Fundamental SmallPairCorr
  1.0SPSM SPDR Portfolio SPPairCorr
  1.0DFAS Dimensional Small CapPairCorr
  1.0VIOO Vanguard SP SmallPairCorr
  0.99PRFZ Invesco FTSE RAFIPairCorr
  0.9DFEN Direxion Daily AerospacePairCorr
  0.72MSTY YieldMax MSTR OptionPairCorr
  0.81GRW TCW Compounders ETFPairCorr
  0.61IBM International BusinessPairCorr
  0.62CVX Chevron CorpPairCorr

Moving against OneAscent Etf

  0.84WTID UBS ETRACSPairCorr
  0.37SHNY Microsectors GoldPairCorr
  0.52MCD McDonaldsPairCorr
  0.4TRV The Travelers CompaniesPairCorr

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   
MSFTMETA
JPMMSFT
JPMMETA
AMETA
JPMF
FUBER
  
High negative correlations   
MRKCRM
XOMCRM

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum 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