Roundhill ETF Correlations

Etfs . USA . 
Etf . Roundhill ETF Trust
TSLW Etf   34.71  0.04  0.12%   
The current 90-days correlation between Roundhill ETF Trust and Tidal Trust II is -0.39 (i.e., Very good diversification). The correlation of Roundhill ETF 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.

Roundhill ETF Correlation With Market

Modest diversification

The correlation between Roundhill ETF Trust 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 Roundhill ETF Trust and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Roundhill Etf
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Roundhill ETF 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 bureau of economic analysis.

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   
MSFT
+ 0.97
META
JPM
+ 0.95
MSFT
JPM
+ 0.93
META
A
+ 0.92
META
JPM
+ 0.89
F
F
+ 0.88
UBER
  
High negative correlations   
MRK
- 0.33
CRM
XOM
- 0.21
CRM

Roundhill ETF Competition Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill ETF 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 Roundhill ETF'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 
(1.79)
 3.99 
(2.00)
 10.48 
MSFT  0.84  0.33  0.36  0.63  0.00 
(1.04)
 2.33 
(1.03)
 8.85 
UBER  1.60  0.05  0.05  0.25  1.44 
(1.99)
 4.19 
(2.54)
 10.87 
F  1.29  0.10  0.04  0.33  1.40 
(1.40)
 2.69 
(2.33)
 7.46 
T  1.00 (0.02)(0.12) 0.14  1.30 
(1.05)
 2.35 
(2.35)
 5.71 
A  1.53 (0.10) 0.02  0.14  1.77 
(1.61)
 2.82 
(2.89)
 14.01 
CRM  1.30 (0.17)(0.04) 0.09  1.64 
(1.29)
 2.95 
(3.19)
 9.31 
JPM  0.88  0.19  0.16  0.40  0.54 
(1.01)
 2.25 
(1.31)
 6.03 
MRK  1.40 (0.08)(0.04) 0.13  1.82 
(1.38)
 2.90 
(3.31)
 10.58 
XOM  1.10 (0.01)(0.10) 0.16  1.39 
(1.07)
 2.18 
(2.58)
 6.28 

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