VIIX Correlations
| VIIX Etf | USD 3.50 0.00 0.00% |
The correlation of VIIX 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as VIIX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if VIIX moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between VIIX and NYA is 0.2 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VIIX and NYA in the same portfolio, assuming nothing else is changed.
VIIX |
The ability to find closely correlated positions to VIIX could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace VIIX when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back VIIX - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling VIIX to buy it.
Moving against VIIX Etf
| 0.56 | LUX | Tema Luxury ETF | PairCorr |
| 0.51 | UDN | Invesco DB Dollar | PairCorr |
| 0.51 | WINN | Harbor Long Term | PairCorr |
| 0.49 | VIXM | ProShares VIX Mid | PairCorr |
| 0.48 | SMI | VanEck Vectors ETF | PairCorr |
| 0.47 | VXZ | iPath Series B | PairCorr |
| 0.45 | CEFD | ETRACS Monthly Pay | PairCorr |
| 0.42 | VOO | Vanguard SP 500 | PairCorr |
| 0.69 | IBM | International Business Financial Report 17th of July 2024 | PairCorr |
| 0.67 | HPQ | HP Inc Financial Report 4th of June 2024 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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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VIIX Competition Risk-Adjusted Indicators
There is a big difference between VIIX Etf performing well and VIIX 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 VIIX'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 | 1.91 | 0.18 | 0.08 | 0.20 | 2.33 | 3.27 | 30.88 | |||
| MSFT | 1.04 | (0.04) | (0.03) | 0.03 | 1.21 | 2.22 | 5.87 | |||
| UBER | 1.64 | 0.01 | (0.01) | 0.09 | 1.73 | 2.64 | 18.39 | |||
| F | 1.59 | (0.02) | 0.04 | 0.06 | 1.92 | 4.88 | 10.80 | |||
| T | 0.87 | (0.08) | 0.00 | (0.16) | 0.00 | 1.88 | 4.89 | |||
| A | 1.22 | 0.01 | 0.03 | 0.08 | 1.29 | 2.29 | 6.31 | |||
| CRM | 1.20 | (0.13) | 0.00 | (0.02) | 0.00 | 2.64 | 10.84 | |||
| JPM | 0.77 | 0.10 | 0.04 | 0.27 | 1.28 | 1.94 | 8.65 | |||
| MRK | 0.68 | 0.04 | 0.02 | 0.12 | 0.63 | 1.35 | 6.92 | |||
| XOM | 0.79 | 0.17 | 0.12 | 0.50 | 0.77 | 1.77 | 5.64 |
VIIX Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with VIIX etf to make a market-neutral strategy. Peer analysis of VIIX could also be used in its relative valuation, which is a method of valuing VIIX by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |
Already Invested in VIIX?
The danger of trading VIIX is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of VIIX is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than VIIX. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile VIIX is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether VIIX offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of VIIX's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Viix Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Viix Etf: Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in gross domestic product. You can also try the Equity Valuation module to check real value of public entities based on technical and fundamental data.
The market value of VIIX is measured differently than its book value, which is the value of VIIX that is recorded on the company's balance sheet. Investors also form their own opinion of VIIX's value that differs from its market value or its book value, called intrinsic value, which is VIIX's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because VIIX's market value can be influenced by many factors that don't directly affect VIIX's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between VIIX's value and its price as these two are different measures arrived at by different means. Investors typically determine if VIIX is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, VIIX's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.