| SRVR Etf | | | USD 33.23 0.06 0.18% |
The current 90-days correlation between Pacer Benchmark Data and Pacer Benchmark Industrial is 0.56 (i.e., Very weak diversification). The correlation of Pacer Benchmark 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.
Pacer Benchmark Correlation With Market
Significant diversification
The correlation between Pacer Benchmark Data and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Pacer Benchmark Data and DJI in the same portfolio, assuming nothing else is changed.
Check out
World Market Map to better understand how to build diversified portfolios, which includes a position in Pacer Benchmark Data. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as
signals in real.