Starboard Investment Correlations

RHRX Etf

USD 16.77 0.02 0.12%

The current 90-days correlation between Starboard Investment and Series Portfolios Trust is -0.19 (i.e., Good diversification). The correlation of Starboard Investment 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.

Starboard Investment Correlation With Market

Very poor diversification

The correlation between Starboard Investment Trust and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Starboard Investment Trust and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Starboard Etf

0.99	TDSC	Cabana Target Drawdown	Pair Corr
0.98	YYY	Amplify High Income	Pair Corr
0.99	FVC	First Trust Dorsey	Pair Corr
0.97	TDSB	Cabana Target Drawdown	Pair Corr
0.93	GMOM	Cambria Global Momentum	Pair Corr
0.95	AGOX	Adaptive Alpha Oppor	Pair Corr
0.98	TACK	Fairlead Tactical Sector	Pair Corr
0.99	DALI	First Trust Dorsey	Pair Corr
1.0	UPRO	ProShares UltraPro SP500	Pair Corr
0.99	QTJA	Innovator ETFs Trust	Pair Corr
0.98	QTOC	Innovator ETFs Trust	Pair Corr
0.99	XTOC	Innovator ETFs Trust	Pair Corr
0.98	QTAP	Innovator Growth 100	Pair Corr
0.98	XTJA	Innovator ETFs Trust	Pair Corr
0.99	XTAP	Innovator Equity Acc	Pair Corr
0.82	KGRN	KraneShares MSCI China	Pair Corr
0.77	INTC	Intel Earnings Call This Week	Pair Corr
0.98	MSFT	Microsoft	Pair Corr
0.92	MMM	3M Company	Pair Corr
0.97	AXP	American Express	Pair Corr
0.83	CVX	Chevron Corp	Pair Corr
0.62	XOM	Exxon Mobil Corp	Pair Corr
0.9	DD	Dupont De Nemours	Pair Corr
0.94	IBM	International Business Earnings Call This Week	Pair Corr
0.98	CAT	Caterpillar	Pair Corr

Moving against Starboard Etf

0.68	MCD	McDonalds	Pair Corr
0.57	KO	Coca Cola Earnings Call This Week	Pair Corr
0.51	PG	Procter Gamble	Pair Corr
0.38	VZ	Verizon Communications Earnings Call This Week	Pair Corr

Related Correlations Analysis

	ADPV	NVBW	RDVI	BOEG	FBDC	IGME	TMFC	BESF	VBK	ABEQ
ADPV		0.64	0.6	-0.17	-0.43	0.05	0.61	-0.19	0.61	0.48	ADPV
NVBW	0.64		0.97	-0.38	-0.44	-0.04	1.0	-0.55	0.99	0.89	NVBW
RDVI	0.6	0.97		-0.33	-0.47	-0.04	0.97	-0.5	0.97	0.83	RDVI
BOEG	-0.17	-0.38	-0.33		-0.19	-0.1	-0.36	0.24	-0.33	-0.46	BOEG
FBDC	-0.43	-0.44	-0.47	-0.19		-0.12	-0.42	-0.17	-0.41	-0.48	FBDC
IGME	0.05	-0.04	-0.04	-0.1	-0.12		-0.04	0.19	-0.05	-0.06	IGME
TMFC	0.61	1.0	0.97	-0.36	-0.42	-0.04		-0.54	0.99	0.88	TMFC
BESF	-0.19	-0.55	-0.5	0.24	-0.17	0.19	-0.54		-0.53	-0.61	BESF
VBK	0.61	0.99	0.97	-0.33	-0.41	-0.05	0.99	-0.53		0.86	VBK
ABEQ	0.48	0.89	0.83	-0.46	-0.48	-0.06	0.88	-0.61	0.86		ABEQ
	ADPV	NVBW	RDVI	BOEG	FBDC	IGME	TMFC	BESF	VBK	ABEQ

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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

TMFC	+ 1.0	NVBW
VBK	+ 0.99	NVBW
VBK	+ 0.99	TMFC
RDVI	+ 0.97	NVBW
TMFC	+ 0.97	RDVI
VBK	+ 0.97	RDVI

High negative correlations

ABEQ	- 0.61	BESF
BESF	- 0.55	NVBW
BESF	- 0.54	TMFC
VBK	- 0.53	BESF
BESF	- 0.5	RDVI
ABEQ	- 0.48	FBDC

Starboard Investment Constituents Risk-Adjusted Indicators

There is a big difference between Starboard Etf performing well and Starboard Investment 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 Starboard Investment'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
ADPV	0.64	0.25	0.13	(1.47)	0.24	(0.81)	1.85	(1.17)	4.56
NVBW	0.28	0.05	(0.06)	0.26	0.10	(0.32)	0.81	(0.50)	2.13
RDVI	0.68	0.21	0.07	(1.50)	0.60	(0.80)	2.08	(1.52)	4.62
BOEG	2.82	1.16	0.48	2.82	1.71	(3.96)	7.23	(3.76)	15.65
FBDC	0.61	0.39	0.00	22.75	0.00	0.00	1.44	(0.93)	2.37
IGME	2.13	(0.55)	0.00	(26.55)	0.00	0.00	2.58	(3.83)	21.98
TMFC	0.78	0.14	0.13	0.27	0.68	(0.89)	2.39	(1.25)	5.15
BESF	0.95	0.29	0.13	7.22	0.93	(1.06)	2.18	(1.94)	4.43
VBK	0.86	0.12	0.11	0.24	0.80	(0.95)	2.50	(1.49)	6.72
ABEQ	0.45	0.00	(0.17)	0.14	0.42	(0.51)	0.81	(0.82)	2.51

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