Xtrackers California Related Correlations

CA Etf  USD 24.84  0.12  0.48%   
Generate correlation matrix for Xtrackers California and other related equities to check the degree to which Xtrackers California Municipal price movement is correlated to its related entities. Use comma (,) to separate each symbol. If not specified, the peers will be provided automatically based on Macroaxis sector classification standards for Xtrackers California Municipal. To filter out specific equities, please toggle its corresponding legend item. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Xtrackers California Municipal. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in nation.
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The market value of Xtrackers California is measured differently than its book value, which is the value of Xtrackers that is recorded on the company's balance sheet. Investors also form their own opinion of Xtrackers California's value that differs from its market value or its book value, called intrinsic value, which is Xtrackers California'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 Xtrackers California's market value can be influenced by many factors that don't directly affect Xtrackers California'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 Xtrackers California's value and its price as these two are different measures arrived at by different means. Investors typically determine if Xtrackers California is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Xtrackers California'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.

Correlations

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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   
IVVVTI
VOVTI
VOIVV
SPYVTI
VUGVTI
IVVSPY
  
High negative correlations   
VWOBND
VUGBND
BNDIVV
BNDSPY
VTVBND
BNDVTI

Xtrackers California Constituents Risk-Adjusted Indicators

There is a big difference between Xtrackers Etf performing well and Xtrackers California 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 Xtrackers California'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
VTI  0.59 (0.02)(0.01) 0.06  0.66 
 1.11 
 3.42 
SPY  0.56  0.03 (0.03) 0.20  0.61 
 1.08 
 3.45 
IVV  0.57 (0.01)(0.01) 0.07  0.59 
 1.04 
 3.49 
BND  0.29 (0.06) 0.00 (0.14) 0.00 
 0.47 
 1.77 
VTV  0.45  0.06  0.01  0.28  0.47 
 0.88 
 2.89 
VUG  0.78 (0.03)(0.02) 0.05  0.87 
 1.63 
 5.06 
VO  0.58 (0.03)(0.02) 0.05  0.73 
 1.19 
 3.11 
VEA  0.48  0.03 (0.05) 0.22  0.63 
 1.10 
 2.98 
VB  0.80  0.01 (0.03) 0.11  1.12 
 1.56 
 4.35 
VWO  0.57  0.00 (0.01) 0.08  0.72 
 1.29 
 4.40