AltShares Event Correlations

Etfs . USA . 
Etf . AltShares Event Driven ETF
EVNT Etf  USD 11.64  0.01  0.09%   
The current 90-days correlation between AltShares Event Driven and Xtrackers Emerging Markets is 0.23 (i.e., Modest diversification). The correlation of AltShares Event 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.

AltShares Event Correlation With Market

Average diversification

The correlation between AltShares Event Driven ETF and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AltShares Event Driven ETF and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with AltShares Etf
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in AltShares Event Driven ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with AltShares Etf

  0.93MNA IQ Merger ArbitragePairCorr
  0.93MARB First Trust VivaldiPairCorr
  0.91ARB AltShares TrustPairCorr
  0.81SPCX SPAC and NewPairCorr
  0.99WSML iShares MSCI WorldPairCorr
  0.9SPAQ Horizon Kinetics SPACPairCorr
  0.98PULS PGIM Ultra ShortPairCorr
  0.98CPSR Calamos ETF TrustPairCorr
  0.97LCAP Principal CapitalPairCorr
  0.93CAS Simplify Exchange TradedPairCorr
  0.96LRNZ Elevation Series TrustPairCorr
  0.97SPRX Spear Alpha ETFPairCorr
  0.87ABEQ Absolute Core StrategyPairCorr
  0.94HYDR Global X HydrogenPairCorr
  0.98DFSU Dimensional SustainabilityPairCorr
  0.94VFMV Vanguard Minimum VolPairCorr
  0.71VBK Vanguard Small CapPairCorr
  0.98TLTE FlexShares MorningstarPairCorr
  0.7MVV ProShares Ultra MidCap400PairCorr
  0.71IWB iShares Russell 1000PairCorr
  0.97MEM MAYBANK EMERGING ETFPairCorr
  0.92IGF iShares Global InfraPairCorr
  0.92IVAL Alpha Architect IntePairCorr
  0.98ITDG iShares TrustPairCorr
  0.63OBIL US Treasury 12PairCorr
  0.98FLCG Federated Hermes ETFPairCorr
  0.64SPEM SPDR Portfolio EmergingPairCorr
  0.72PSFF Pacer Funds TrustPairCorr
  0.7TMFC Motley Fool 100 Low VolatilityPairCorr
  0.82PIN Invesco India ETFPairCorr
  0.93FLTB Fidelity Limited TermPairCorr
  0.68IBUY Amplify Online RetailPairCorr

Moving against AltShares Etf

  0.91BITI ProShares TrustPairCorr
  0.77MPAY Exchange Traded ConceptsPairCorr

Related Correlations Analysis

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