OTG Latin Correlations

OTGL Etf

11.23 0.13 1.17%

The current 90-days correlation between OTG Latin America and Franklin Templeton ETF is 0.52 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as OTG Latin moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if OTG Latin America moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

OTG Latin Correlation With Market

Very poor diversification

The correlation between OTG Latin America and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding OTG Latin America and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with OTG Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in OTG Latin America. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with OTG Etf

0.93	EWZ	iShares MSCI Brazil Aggressive Push	Pair Corr
0.99	ILF	iShares Latin America	Pair Corr
0.93	FLBR	Franklin FTSE Brazil	Pair Corr
0.99	FLLA	Franklin FTSE Latin	Pair Corr
0.91	BRF	VanEck Brazil Small	Pair Corr
0.65	FBZ	First Trust	Pair Corr
0.91	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.93	MUU	Direxion Daily MU Trending	Pair Corr
0.92	AGQ	ProShares Ultra Silver Upward Rally	Pair Corr
0.93	MULL	GraniteShares 2x Long Trending	Pair Corr
0.9	JNUG	Direxion Daily Junior Trending	Pair Corr
0.87	KORU	Direxion Daily South	Pair Corr
0.91	NUGT	Direxion Daily Gold	Pair Corr
0.86	SHNY	Microsectors Gold	Pair Corr
0.9	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.9	SLVR	Sprott Silver Miners	Pair Corr
0.77	GSIG	Goldman Sachs Access	Pair Corr
0.77	ACSV	American Century ETF	Pair Corr
0.85	HEZU	iShares Currency Hedged	Pair Corr
0.82	AHYB	American Century ETF	Pair Corr
0.84	SOXY	YieldMax Target 12	Pair Corr
0.81	JHSC	John Hancock Multifactor	Pair Corr
0.77	XBI	SPDR SP Biotech Aggressive Push	Pair Corr
0.88	IPKW	Invesco International	Pair Corr
0.8	GSG	iShares SP GSCI	Pair Corr
0.74	EAGL	2023 ETF	Pair Corr
0.76	DUSA	Davis Select Equity	Pair Corr
0.79	IXJ	iShares Global Healthcare	Pair Corr
0.83	FTBI	First Trust Exchange	Pair Corr
0.83	LJUL	Innovator Premium Income	Pair Corr
0.8	EWI	iShares MSCI Italy	Pair Corr
0.91	FSMB	First Trust Short	Pair Corr
0.91	ELD	WisdomTree Emerging	Pair Corr
0.8	PRCS	Parnassus Core Select	Pair Corr
0.9	SMMU	PIMCO Short Term	Pair Corr
0.79	ZHOG	RBB Fund Symbol Change	Pair Corr
0.7	PSCT	Invesco SP SmallCap	Pair Corr
0.79	EMCS	Xtrackers MSCI Emerging	Pair Corr
0.94	CSNR	Cohen Steers Natural	Pair Corr

Related Correlations Analysis

	COAL	BRF	AAVM	AVNV	PJFV	FORH	AUMI	RAYC	NVBT	DIEM
COAL		0.65	0.92	0.9	0.81	0.3	0.81	0.21	0.73	0.96	COAL
BRF	0.65		0.74	0.74	0.72	-0.14	0.75	0.46	0.54	0.69	BRF
AAVM	0.92	0.74		0.99	0.96	0.14	0.93	0.43	0.85	0.93	AAVM
AVNV	0.9	0.74	0.99		0.96	0.15	0.94	0.44	0.85	0.92	AVNV
PJFV	0.81	0.72	0.96	0.96		0.14	0.89	0.45	0.92	0.84	PJFV
FORH	0.3	-0.14	0.14	0.15	0.14		0.07	-0.44	0.28	0.21	FORH
AUMI	0.81	0.75	0.93	0.94	0.89	0.07		0.47	0.74	0.78	AUMI
RAYC	0.21	0.46	0.43	0.44	0.45	-0.44	0.47		0.25	0.25	RAYC
NVBT	0.73	0.54	0.85	0.85	0.92	0.28	0.74	0.25		0.76	NVBT
DIEM	0.96	0.69	0.93	0.92	0.84	0.21	0.78	0.25	0.76		DIEM
	COAL	BRF	AAVM	AVNV	PJFV	FORH	AUMI	RAYC	NVBT	DIEM

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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

AVNV	+ 0.99	AAVM
DIEM	+ 0.96	COAL
PJFV	+ 0.96	AAVM
PJFV	+ 0.96	AVNV
AUMI	+ 0.94	AVNV
AUMI	+ 0.93	AAVM

High negative correlations

RAYC	- 0.44	FORH
FORH	- 0.14	BRF

OTG Latin Constituents Risk-Adjusted Indicators

There is a big difference between OTG Etf performing well and OTG Latin 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 OTG Latin'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
COAL	1.16	0.16	0.09	0.24	1.45	(1.23)	2.55	(2.49)	7.29
BRF	1.26	0.23	0.11	0.29	1.74	(1.37)	2.48	(2.33)	10.04
AAVM	0.58	0.12	0.15	0.22	0.41	(0.67)	1.28	(1.09)	2.71
AVNV	0.52	0.12	0.14	0.26	0.39	(0.57)	1.09	(1.10)	2.98
PJFV	0.57	0.03	0.03	0.11	0.62	(0.62)	1.17	(0.97)	3.56
FORH	0.79	(0.12)	0.00	(0.10)	0.00	0.00	1.39	(2.10)	4.37
AUMI	2.03	0.38	0.11	0.65	2.56	(2.02)	4.49	(4.18)	13.18
RAYC	0.69	0.10	0.03	1.54	0.88	(0.72)	1.81	(1.18)	7.60
NVBT	0.34	(0.01)	(0.08)	0.04	0.53	(0.30)	0.75	(0.87)	2.68
DIEM	0.53	0.10	0.11	0.25	0.43	(0.61)	1.36	(1.14)	2.70

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