REX HOOD Correlations

HOII Etf

15.63 0.36 2.25%

The current 90-days correlation between REX HOOD Growth and Tradr 2X Long is 0.29 (i.e., Modest diversification). The correlation of REX HOOD 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.

REX HOOD Correlation With Market

Very good diversification

The correlation between REX HOOD Growth and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding REX HOOD Growth and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with REX Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in REX HOOD Growth. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with REX Etf

0.64

XOVR

ERShares Private Public

Pair Corr

Moving against REX Etf

0.67	TRSY	Xtrackers 0 1	Pair Corr
0.66	FDV	First Trust Capital	Pair Corr
0.65	GLDX	USCF Gold Strategy	Pair Corr
0.62	AAIAX	AMERICAN BEACON INTE	Pair Corr
0.58	VTV	Vanguard Value Index	Pair Corr
0.56	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.48	GAL	SPDR SSgA Global	Pair Corr
0.47	VB	Vanguard Small Cap	Pair Corr
0.46	BND	Vanguard Total Bond	Pair Corr
0.42	VWO	Vanguard FTSE Emerging	Pair Corr
0.37	VO	Vanguard Mid Cap	Pair Corr
0.51	BA	Boeing	Pair Corr
0.47	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.39	CVX	Chevron Corp Earnings Call Tomorrow	Pair Corr
0.36	MRK	Merck Company Earnings Call This Week	Pair Corr
0.33	WMT	Walmart Common Stock	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.31	0.06	0.06	-0.07	-0.27	0.34	-0.03	-0.05	0.04	META
MSFT	0.31		0.75	-0.47	0.48	0.32	0.39	-0.1	-0.81	-0.68	MSFT
UBER	0.06	0.75		-0.45	0.47	0.51	0.07	-0.23	-0.8	-0.52	UBER
F	0.06	-0.47	-0.45		-0.59	-0.33	0.02	0.46	0.64	0.6	F
T	-0.07	0.48	0.47	-0.59		0.61	-0.09	-0.25	-0.46	-0.64	T
A	-0.27	0.32	0.51	-0.33	0.61		-0.13	-0.12	-0.32	-0.52	A
CRM	0.34	0.39	0.07	0.02	-0.09	-0.13		0.62	-0.13	-0.45	CRM
JPM	-0.03	-0.1	-0.23	0.46	-0.25	-0.12	0.62		0.35	-0.05	JPM
MRK	-0.05	-0.81	-0.8	0.64	-0.46	-0.32	-0.13	0.35		0.68	MRK
XOM	0.04	-0.68	-0.52	0.6	-0.64	-0.52	-0.45	-0.05	0.68		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.75	MSFT
XOM	+ 0.68	MRK
MRK	+ 0.64	F
JPM	+ 0.62	CRM
A	+ 0.61	T
XOM	+ 0.6	F

High negative correlations

MRK	- 0.81	MSFT
MRK	- 0.8	UBER
XOM	- 0.68	MSFT
XOM	- 0.64	T
T	- 0.59	F
XOM	- 0.52	A

REX HOOD Competition Risk-Adjusted Indicators

There is a big difference between REX Etf performing well and REX HOOD 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 REX HOOD'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	1.60	(0.03)	(0.01)	0.02	2.40	(1.68)	3.43	(2.67)	13.02
MSFT	1.24	(0.29)	0.00	(1.12)	0.00	0.00	1.85	(2.70)	4.90
UBER	1.47	(0.24)	0.00	(0.26)	0.00	0.00	2.50	(3.82)	10.23
F	1.47	0.18	0.10	0.52	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.03)	0.00	(0.14)	0.00	0.00	1.63	(1.85)	4.30
A	1.19	(0.22)	0.00	(0.12)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.53	(0.30)	0.00	(0.24)	0.00	0.00	2.94	(4.26)	12.37
JPM	1.11	0.04	(0.01)	(0.50)	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.26	0.30	0.21	0.47	1.14	(1.53)	3.59	(1.98)	8.09
XOM	1.06	0.24	0.18	0.45	0.96	(1.23)	2.38	(1.51)	5.82

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