Embrace Change Correlations

EMCG Etf

USD 11.95 0.04 0.34%

The current 90-days correlation between Embrace Change Acqui and MFS Investment Grade is -0.13 (i.e., Good diversification). The correlation of Embrace Change 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.

Embrace Change Correlation With Market

Good diversification

The correlation between Embrace Change Acquisition and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Embrace Change Acquisition and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Embrace Change Acquisition. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Embrace Etf

0.67	DB	Deutsche Bank AG	Pair Corr
0.62	LU	Lufax Holding	Pair Corr
0.69	XP	Xp Inc	Pair Corr
0.74	DMYY	dMY Squared Technology	Pair Corr
0.69	DYCQ	DT Cloud Acquisition	Pair Corr
0.81	EMCGU	Embrace Change Acqui	Pair Corr

Moving against Embrace Etf

0.8	LC	LendingClub Corp	Pair Corr
0.74	BX	Blackstone Group Earnings Call This Week	Pair Corr
0.7	CG	Carlyle Group	Pair Corr
0.64	MC	Moelis	Pair Corr
0.54	BN	Brookfield Corp	Pair Corr
0.54	MS	Morgan Stanley	Pair Corr
0.44	DHIL	Diamond Hill Investment	Pair Corr
0.44	GS	Goldman Sachs Group Earnings Call This Week	Pair Corr
0.7	WD	Walker Dunlop	Pair Corr
0.7	WT	WisdomTree	Pair Corr
0.68	PX	P10 Inc	Pair Corr
0.65	SF	Stifel Financial	Pair Corr
0.61	RC	Ready Capital Corp	Pair Corr
0.53	RM	Regional Management Corp	Pair Corr
0.49	VCTR	Victory Capital Holdings	Pair Corr
0.82	VRTS	Virtus Investment	Pair Corr
0.79	LGHLW	Lion Financial Group	Pair Corr
0.61	ECPG	Encore Capital Group	Pair Corr
0.54	ENVA	Enova International	Pair Corr
0.45	EARN	Ellington Residential	Pair Corr

Related Correlations Analysis

	CXH	EOT	FMN	GRX	GGZ	JHS	GGT	MHN	NXC
CXH		0.88	0.91	0.6	0.71	0.46	0.63	0.88	0.79	CXH
EOT	0.88		0.93	0.61	0.8	0.49	0.63	0.88	0.77	EOT
FMN	0.91	0.93		0.64	0.76	0.32	0.58	0.91	0.75	FMN
GRX	0.6	0.61	0.64		0.84	0.26	0.82	0.54	0.76	GRX
GGZ	0.71	0.8	0.76	0.84		0.27	0.82	0.71	0.71	GGZ
JHS	0.46	0.49	0.32	0.26	0.27		0.53	0.27	0.57	JHS
GGT	0.63	0.63	0.58	0.82	0.82	0.53		0.48	0.78	GGT
MHN	0.88	0.88	0.91	0.54	0.71	0.27	0.48		0.7	MHN
NXC	0.79	0.77	0.75	0.76	0.71	0.57	0.78	0.7		NXC
	CXH	EOT	FMN	GRX	GGZ	JHS	GGT	MHN	NXC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Embrace Change Constituents Risk-Adjusted Indicators

There is a big difference between Embrace Etf performing well and Embrace Change 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 Embrace Change'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CXH	0.44	(0.09)	(1.80)	0.75	(1.24)	3.54
EOT	0.52	(0.06)	(0.37)	1.01	(1.28)	4.25
FMN	0.52	(0.07)	(0.68)	0.81	(1.26)	3.90
GRX	0.81	0.02	(0.05)	1.61	(1.39)	7.82
GGZ	0.93	0.01	(0.07)	1.60	(2.78)	7.77
JHS	0.47	(0.06)	2.40	0.73	(1.15)	3.32
GGT	0.71	(0.03)	(0.46)	1.35	(2.10)	6.35
MHN	0.59	(0.08)	(0.39)	1.14	(1.65)	4.38
NXC	0.43	(0.04)	(0.35)	0.76	(1.09)	2.71

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC