FlexShares Quality Correlations

QLV Etf

USD 73.56 0.15 0.20%

The current 90-days correlation between FlexShares Quality Low and ProShares Ultra MidCap400 is 0.7 (i.e., Poor diversification). The correlation of FlexShares Quality 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.

FlexShares Quality Correlation With Market

Poor diversification

The correlation between FlexShares Quality Low and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FlexShares Quality Low and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with FlexShares Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in FlexShares Quality Low. 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 FlexShares Etf

0.82	VTI	Vanguard Total Stock	Pair Corr
0.81	SPY	SPDR SP 500	Pair Corr
0.81	IVV	iShares Core SP	Pair Corr
0.9	VIG	Vanguard Dividend	Pair Corr
0.79	VV	Vanguard Large Cap	Pair Corr
0.87	RSP	Invesco SP 500	Pair Corr
0.81	IWB	iShares Russell 1000	Pair Corr
0.76	ESGU	iShares ESG Aware	Pair Corr
0.87	DFAC	Dimensional Core Equity	Pair Corr
0.84	CPST	Calamos ETF Trust	Pair Corr
0.87	ITDD	iShares Trust	Pair Corr
0.75	CAT	Caterpillar	Pair Corr

Moving against FlexShares Etf

0.7	HPQ	HP Inc	Pair Corr
0.43	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EVUS	ELCV	PSCI	GSC	PY	PSCH	XBJL	SVAL	ERTH	MVV
EVUS		0.94	0.96	0.96	0.86	0.64	0.97	0.96	0.53	0.97	EVUS
ELCV	0.94		0.92	0.93	0.68	0.47	0.86	0.88	0.55	0.93	ELCV
PSCI	0.96	0.92		0.98	0.8	0.62	0.93	0.97	0.47	0.99	PSCI
GSC	0.96	0.93	0.98		0.82	0.67	0.93	0.97	0.45	0.99	GSC
PY	0.86	0.68	0.8	0.82		0.81	0.9	0.86	0.41	0.84	PY
PSCH	0.64	0.47	0.62	0.67	0.81		0.69	0.72	0.01	0.64	PSCH
XBJL	0.97	0.86	0.93	0.93	0.9	0.69		0.93	0.54	0.95	XBJL
SVAL	0.96	0.88	0.97	0.97	0.86	0.72	0.93		0.38	0.97	SVAL
ERTH	0.53	0.55	0.47	0.45	0.41	0.01	0.54	0.38		0.51	ERTH
MVV	0.97	0.93	0.99	0.99	0.84	0.64	0.95	0.97	0.51		MVV
	EVUS	ELCV	PSCI	GSC	PY	PSCH	XBJL	SVAL	ERTH	MVV

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FlexShares Quality Constituents Risk-Adjusted Indicators

There is a big difference between FlexShares Etf performing well and FlexShares Quality 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 FlexShares Quality'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
EVUS	0.55	0.07	0.09	0.13	0.51	(0.60)	1.17	(1.01)	3.05
ELCV	0.58	0.06	0.06	0.13	0.61	(0.61)	1.13	(1.17)	3.08
PSCI	0.98	0.09	0.10	0.12	0.92	(1.19)	2.46	(1.96)	5.14
GSC	0.88	0.07	0.08	0.11	0.83	(1.10)	1.95	(1.89)	4.87
PY	0.48	(0.01)	(0.04)	0.03	0.60	(0.51)	1.10	(0.91)	3.31
PSCH	0.94	0.02	0.02	0.07	0.93	(1.15)	2.41	(1.87)	6.59
XBJL	0.19	0.01	(0.07)	0.11	0.17	(0.20)	0.42	(0.40)	1.31
SVAL	0.80	0.14	0.15	0.18	0.64	(0.95)	2.18	(1.45)	5.39
ERTH	0.75	(0.03)	(0.04)	0.01	1.01	(0.74)	1.45	(2.00)	4.99
MVV	1.42	0.10	0.09	0.10	1.55	(1.66)	3.66	(2.80)	7.51

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