US Global Correlations

Etfs . USA . 
Etf . US Global Jets
JETS Etf  USD 18.82  0.42  2.28%   
The current 90-days correlation between US Global Jets and Invesco Solar ETF is 0.6 (i.e., Poor diversification). The correlation of US Global 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.

US Global Correlation With Market

Good diversification

The correlation between US Global Jets and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding US Global Jets and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with JETS Etf
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in US Global Jets. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with JETS Etf

  0.93XLI Industrial Select SectorPairCorr
  0.96VIS Vanguard IndustrialsPairCorr
  0.98FXR First Trust IndustriPairCorr
  0.67PPA Invesco Aerospace DefensePairCorr
  0.96IYJ iShares Industrials ETFPairCorr
  0.97IYT iShares TransportationPairCorr
  0.95FIDU Fidelity MSCI IndustrialsPairCorr
  0.91OIH VanEck Oil ServicesPairCorr
  0.95ARKW ARK Next GenerationPairCorr
  0.95WTMF WisdomTree ManagedPairCorr
  0.65EWC iShares MSCI CanadaPairCorr
  0.95BST BlackRock Science TechPairCorr
  0.77IRET iREIT MarketVectorPairCorr
  0.62MMM 3M Company Earnings Call TodayPairCorr
  0.91AA Alcoa Corp Sell-off TrendPairCorr
  0.9CAT CaterpillarPairCorr
  0.94BAC Bank of America Aggressive PushPairCorr
  0.92HD Home DepotPairCorr
  0.9JPM JPMorgan ChasePairCorr
  0.97AXP American ExpressPairCorr
  0.77PFE Pfizer Inc Earnings Call This WeekPairCorr
  0.95HPQ HP Inc Sell-off TrendPairCorr

Moving against JETS Etf

  0.69KO Coca Cola Earnings Call This WeekPairCorr
  0.76VZ Verizon Communications Earnings Call TodayPairCorr
  0.57MCD McDonaldsPairCorr
  0.4TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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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   
PEJ
+ 0.96
AWAY
SOXX
+ 0.92
TAN
AWAY
+ 0.91
SOXX
PEJ
+ 0.87
SOXX
AWAY
+ 0.86
TAN
PEJ
+ 0.8
TAN
  
High negative correlations   
PEJ
- 0.12
ICLN

US Global Constituents Risk-Adjusted Indicators

There is a big difference between JETS Etf performing well and US Global 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 US Global'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.

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