VanEck CEF Correlations

XMPT Etf

USD 20.61 0.05 0.24%

The current 90-days correlation between VanEck CEF Municipal and VanEck High Yield is 0.73 (i.e., Poor diversification). The correlation of VanEck CEF 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.

VanEck CEF Correlation With Market

Very weak diversification

The correlation between VanEck CEF Municipal and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding VanEck CEF Municipal and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with VanEck Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in VanEck CEF Municipal. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with VanEck Etf

0.73	HYD	VanEck High Yield	Pair Corr
0.72	SHYD	VanEck Short High	Pair Corr
0.89	FMHI	First Trust Municipal	Pair Corr
0.88	FLMI	Franklin Liberty Int	Pair Corr
0.74	SIXD	AIM ETF Products	Pair Corr
0.73	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.75	CEFD	ETRACS Monthly Pay	Pair Corr
0.72	VTWO	Vanguard Russell 2000	Pair Corr
0.71	NBGX	Neuberger Berman ETF	Pair Corr
0.75	AIVL	WisdomTree Trust	Pair Corr
0.71	IPO	Renaissance IPO ETF	Pair Corr
0.71	MBCC	Northern Lights	Pair Corr
0.63	IGF	iShares Global Infra	Pair Corr
0.73	AVSC	American Century ETF	Pair Corr
0.73	IUSV	iShares Core SP	Pair Corr
0.73	IWN	iShares Russell 2000	Pair Corr
0.67	BSJR	Invesco BulletShares 2027	Pair Corr
0.73	VBK	Vanguard Small Cap	Pair Corr
0.7	DWCR	Arrow DWA Tactical	Pair Corr
0.72	EDIV	SPDR SP Emerging	Pair Corr
0.74	PSC	Principal Small Cap	Pair Corr
0.74	PFF	iShares Preferred	Pair Corr
0.68	QQQ	Invesco QQQ Trust Sell-off Trend	Pair Corr
0.69	FLCG	Federated Hermes ETF	Pair Corr
0.7	IVAL	Alpha Architect Inte	Pair Corr
0.69	PSFF	Pacer Funds Trust	Pair Corr

Moving against VanEck Etf

0.7	VXX	iPath Series B	Pair Corr
0.7	VIXY	ProShares VIX Short	Pair Corr
0.63	YCL	ProShares Ultra Yen	Pair Corr

Related Correlations Analysis

	HYD	SHYD	FMHI	FLMI
HYD		0.51	0.83	0.7	HYD
SHYD	0.51		0.75	0.9	SHYD
FMHI	0.83	0.75		0.9	FMHI
FLMI	0.7	0.9	0.9		FLMI
	HYD	SHYD	FMHI	FLMI

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VanEck CEF Constituents Risk-Adjusted Indicators

There is a big difference between VanEck Etf performing well and VanEck CEF 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 VanEck CEF'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
HYD	0.24	(0.03)	0.00	(0.15)	0.00	0.00	0.49	(0.49)	1.28
SHYD	0.25	0.00	(0.30)	0.19	0.32	(0.29)	0.50	(0.45)	2.33
FMHI	0.19	(0.02)	(0.56)	(0.07)	0.22	(0.22)	0.43	(0.43)	1.06
FLMI	0.19	0.01	(0.51)	0.48	0.14	(0.22)	0.54	(0.29)	1.26

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