Texas Capital Correlations

MMKT Etf

100.23 0.02 0.02%

The current 90-days correlation between Texas Capital Funds and Vanguard 0 3 Month is 0.11 (i.e., Average diversification). The correlation of Texas Capital 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.

Texas Capital Correlation With Market

Very weak diversification

The correlation between Texas Capital Funds and DJI is 0.41 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Texas Capital Funds and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Texas Etf

0.89	FXY	Invesco CurrencyShares	Pair Corr
0.92	PMBS	PIMCO Mortgage Backed	Pair Corr
0.68	AMPD	Tidal Trust II	Pair Corr
0.91	FIXD	First Trust TCW	Pair Corr
0.81	RWX	SPDR Dow Jones	Pair Corr
0.62	VNM	VanEck Vietnam ETF	Pair Corr
0.84	LIAF	Stone Ridge 2051	Pair Corr
0.87	LIAB	Stone Ridge 2048 Low Volatility	Pair Corr
0.89	LFAK	Stone Ridge 2052	Pair Corr
0.92	UTEN	Rbb Fund	Pair Corr
0.9	FSEC	Fidelity Investment Grade	Pair Corr
0.96	GLDM	SPDR Gold MiniShares	Pair Corr
0.99	GSY	Invesco Ultra Short Sell-off Trend	Pair Corr
0.87	MFSB	MFS Active Core	Pair Corr
0.66	PPIE	Putnam ETF Trust	Pair Corr
0.96	USSH	WisdomTree 1 3	Pair Corr
0.95	FGDL	Franklin Responsibly	Pair Corr
0.82	SBB	ProShares Short Smal	Pair Corr
0.97	STOT	SPDR DoubleLine Short	Pair Corr
0.88	JHMB	John Hancock Exchange	Pair Corr
0.92	GDX	VanEck Gold Miners	Pair Corr
0.7	CPXR	Tidal Trust III	Pair Corr
0.77	FLLA	Franklin FTSE Latin	Pair Corr
0.61	RPAR	RPAR Risk Parity	Pair Corr

Moving against Texas Etf

0.92

WGMI

Valkyrie Bitcoin Miners

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.55	0.45	-0.35	-0.19	0.7	0.75	0.91	-0.05	-0.16	META
MSFT	0.55		-0.2	0.01	-0.78	0.88	0.87	0.66	0.52	-0.23	MSFT
UBER	0.45	-0.2		-0.16	0.6	-0.16	-0.13	0.37	-0.52	0.39	UBER
F	-0.35	0.01	-0.16		0.14	-0.12	-0.18	-0.23	0.41	0.61	F
T	-0.19	-0.78	0.6	0.14		-0.7	-0.68	-0.25	-0.61	0.5	T
A	0.7	0.88	-0.16	-0.12	-0.7		0.95	0.77	0.45	-0.26	A
CRM	0.75	0.87	-0.13	-0.18	-0.68	0.95		0.79	0.4	-0.29	CRM
JPM	0.91	0.66	0.37	-0.23	-0.25	0.77	0.79		-0.04	-0.03	JPM
MRK	-0.05	0.52	-0.52	0.41	-0.61	0.45	0.4	-0.04		-0.04	MRK
XOM	-0.16	-0.23	0.39	0.61	0.5	-0.26	-0.29	-0.03	-0.04		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

CRM	+ 0.95	A
JPM	+ 0.91	META
A	+ 0.88	MSFT
CRM	+ 0.87	MSFT
JPM	+ 0.79	CRM
JPM	+ 0.77	A

High negative correlations

T	- 0.78	MSFT
A	- 0.7	T
CRM	- 0.68	T
MRK	- 0.61	T
MRK	- 0.52	UBER
F	- 0.35	META

Texas Capital Competition Risk-Adjusted Indicators

There is a big difference between Texas Etf performing well and Texas Capital 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 Texas Capital'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	2.03	0.10	0.00	(0.01)	0.00	0.00	3.79	(4.42)	13.19
MSFT	1.32	(0.04)	0.00	(0.11)	0.00	0.00	2.91	(3.02)	10.31
UBER	2.22	0.31	0.09	0.17	2.79	(2.19)	5.40	(4.21)	16.03
F	1.80	0.09	0.03	0.01	2.70	(1.72)	3.02	(3.88)	11.82
T	1.14	0.29	0.15	0.70	2.05	(1.21)	1.99	(1.75)	13.10
A	1.41	(0.44)	0.00	5.05	0.00	0.00	2.92	(4.15)	9.62
CRM	1.58	(0.43)	0.00	(2.05)	0.00	0.00	2.72	(4.51)	9.97
JPM	1.45	0.07	0.00	(0.02)	0.00	0.00	2.39	(4.15)	10.71
MRK	1.40	(0.24)	0.00	(0.80)	0.00	0.00	2.43	(2.94)	11.58
XOM	1.31	0.05	0.03	(0.01)	2.15	(1.23)	2.58	(3.01)	10.17

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