Main Sector Correlations
The current 90-days correlation between Main Sector Rotation and Main Thematic Innovation is 0.79 (i.e., Poor diversification). The correlation of Main Sector 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.
Main Sector Correlation With Market
Poor diversification
The correlation between Main Sector Rotation and DJI is 0.73 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Main Sector Rotation and DJI in the same portfolio, assuming nothing else is changed.
Main |
Moving together with Main Etf
| 0.83 | VTI | Vanguard Total Stock Sell-off Trend | PairCorr |
| 0.83 | SPY | SPDR SP 500 Sell-off Trend | PairCorr |
| 0.83 | IVV | iShares Core SP Sell-off Trend | PairCorr |
| 0.73 | VIG | Vanguard Dividend | PairCorr |
| 0.83 | VV | Vanguard Large Cap | PairCorr |
| 0.73 | RSP | Invesco SP 500 | PairCorr |
| 0.83 | IWB | iShares Russell 1000 | PairCorr |
| 0.77 | ESGU | iShares ESG Aware | PairCorr |
| 0.76 | DFAC | Dimensional Core Equity | PairCorr |
| 0.83 | SPLG | SPDR Portfolio SP Sell-off Trend | PairCorr |
| 0.83 | ARKW | ARK Next Generation | PairCorr |
| 0.77 | WTMF | WisdomTree Managed | PairCorr |
| 0.68 | EWC | iShares MSCI Canada | PairCorr |
| 0.72 | BST | BlackRock Science Tech | PairCorr |
| 0.72 | DIS | Walt Disney | PairCorr |
| 0.76 | JPM | JPMorgan Chase Fiscal Year End 10th of January 2025 | PairCorr |
| 0.8 | WMT | Walmart | PairCorr |
| 0.77 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.71 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.78 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.63 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
Moving against Main Etf
| 0.53 | IRET | Tidal Trust II | PairCorr |
| 0.75 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
| 0.73 | PFE | Pfizer Inc Fiscal Year End 4th of February 2025 | PairCorr |
| 0.7 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
| 0.42 | DD | Dupont De Nemours Fiscal Year End 4th of February 2025 | PairCorr |
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
Main Sector Constituents Risk-Adjusted Indicators
There is a big difference between Main Etf performing well and Main Sector 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 Main Sector'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| TMAT | 1.09 | 0.27 | 0.23 | 0.31 | 0.95 | 2.32 | 6.16 | |||
| XLSR | 0.47 | 0.05 | 0.04 | 0.17 | 0.40 | 1.11 | 3.82 | |||
| SMMV | 0.54 | 0.02 | 0.02 | 0.11 | 0.42 | 1.31 | 5.08 | |||
| QUS | 0.44 | (0.02) | (0.10) | 0.06 | 0.39 | 0.88 | 3.51 | |||
| SMLF | 0.76 | 0.05 | 0.08 | 0.13 | 0.59 | 1.89 | 6.19 |
Main Sector Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Main Sector etf to make a market-neutral strategy. Peer analysis of Main Sector could also be used in its relative valuation, which is a method of valuing Main Sector by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |