Knowledge Leaders Correlations

KLDW Etf

USD 48.47 0.18 0.37%

The current 90-days correlation between Knowledge Leaders and FT Vest Equity is 0.62 (i.e., Poor diversification). The correlation of Knowledge Leaders 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.

Knowledge Leaders Correlation With Market

Very weak diversification

The correlation between Knowledge Leaders Developed and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Knowledge Leaders Developed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Knowledge Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Knowledge Leaders Developed. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with Knowledge Etf

0.98	VT	Vanguard Total World Sell-off Trend	Pair Corr
0.98	ACWI	iShares MSCI ACWI Sell-off Trend	Pair Corr
0.64	ACWV	iShares MSCI Global	Pair Corr
0.98	CRBN	iShares MSCI ACWI	Pair Corr
0.98	ITDD	iShares Trust	Pair Corr
0.88	VBF	Invesco Van Kampen	Pair Corr
0.87	VABS	Virtus Newfleet ABSMBS	Pair Corr
0.83	KGRN	KraneShares MSCI China	Pair Corr
0.97	BUFD	FT Cboe Vest	Pair Corr
0.72	HIDE	Alpha Architect High	Pair Corr
0.65	EUSB	iShares Trust	Pair Corr
0.98	PFUT	Putnam Sustainable Future	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr
0.94	CSCO	Cisco Systems	Pair Corr
0.93	CAT	Caterpillar	Pair Corr
0.7	INTC	Intel Earnings Call This Week	Pair Corr
0.95	AXP	American Express	Pair Corr
0.95	GE	GE Aerospace Earnings Call Tomorrow	Pair Corr
0.96	DIS	Walt Disney	Pair Corr
0.9	MMM	3M Company	Pair Corr
0.87	DD	Dupont De Nemours	Pair Corr
0.94	JPM	JPMorgan Chase	Pair Corr
0.89	IBM	International Business Earnings Call This Week	Pair Corr
0.84	PFE	Pfizer Inc	Pair Corr

Moving against Knowledge Etf

0.58	MCD	McDonalds	Pair Corr
0.46	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	KLDW	DHDG	Z	MBCC	MBBB	BZDYF	DHSB	MBOX
KLDW		0.98	0.78	0.98	0.83	-0.17	0.95	0.95	KLDW
DHDG	0.98		0.78	0.98	0.83	-0.16	0.96	0.94	DHDG
Z	0.78	0.78		0.83	0.74	0.18	0.83	0.86	Z
MBCC	0.98	0.98	0.83		0.86	-0.07	0.97	0.97	MBCC
MBBB	0.83	0.83	0.74	0.86		0.29	0.85	0.86	MBBB
BZDYF	-0.17	-0.16	0.18	-0.07	0.29		-0.07	-0.02	BZDYF
DHSB	0.95	0.96	0.83	0.97	0.85	-0.07		0.96	DHSB
MBOX	0.95	0.94	0.86	0.97	0.86	-0.02	0.96		MBOX
	KLDW	DHDG	Z	MBCC	MBBB	BZDYF	DHSB	MBOX

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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

DHDG	+ 0.98	KLDW
MBCC	+ 0.98	KLDW
MBCC	+ 0.98	DHDG
DHSB	+ 0.97	MBCC
MBOX	+ 0.97	MBCC
DHSB	+ 0.96	DHDG

High negative correlations

BZDYF	- 0.17	KLDW
BZDYF	- 0.16	DHDG
DHSB	- 0.07	BZDYF
BZDYF	- 0.07	MBCC
MBOX	- 0.02	BZDYF

Knowledge Leaders Constituents Risk-Adjusted Indicators

There is a big difference between Knowledge Etf performing well and Knowledge Leaders 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 Knowledge Leaders' 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
KLDW	0.41	0.12	0.05	0.47	0.00	(0.62)	1.40	(0.74)	2.80
DHDG	0.17	0.05	(0.13)	0.33	0.00	(0.18)	0.79	(0.16)	1.59
Z	1.43	0.14	0.10	0.23	1.62	(1.49)	3.98	(2.89)	9.49
MBCC	0.65	0.09	0.09	0.23	0.59	(0.73)	1.56	(1.11)	5.16
MBBB	0.24	0.02	(0.28)	0.30	0.16	(0.28)	0.52	(0.47)	1.48
BZDYF	0.47	(0.03)	0.00	(0.95)	0.00	0.00	0.64	(1.53)	9.74
DHSB	0.34	0.03	(0.07)	0.20	0.58	(0.37)	0.96	(0.44)	5.27
MBOX	0.55	0.00	(0.04)	0.14	0.67	(0.57)	1.66	(1.16)	3.86

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