Cabana Target Correlations

TDSB Etf

USD 22.46 0.02 0.09%

The current 90-days correlation between Cabana Target Drawdown and First Trust Multi Asset is 0.53 (i.e., Very weak diversification). The correlation of Cabana Target 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.

Cabana Target Correlation With Market

Good diversification

The correlation between Cabana Target Drawdown and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Cabana Target Drawdown and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Cabana Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Cabana Target Drawdown. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Cabana Etf

0.77	TDSC	Cabana Target Drawdown	Pair Corr
0.84	YYY	Amplify High Income	Pair Corr
0.79	FVC	First Trust Dorsey	Pair Corr
0.94	GMOM	Cambria Global Momentum	Pair Corr
0.84	AGOX	Adaptive Alpha Oppor	Pair Corr
0.95	TACK	Fairlead Tactical Sector	Pair Corr
0.79	DALI	First Trust Dorsey	Pair Corr
0.94	DFEN	Direxion Daily Aerospace	Pair Corr
0.93	TARK	AXS 2X Innovation	Pair Corr
0.76	BITU	ProShares Trust	Pair Corr
0.76	BTCL	T Rex 2X	Pair Corr
0.63	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.71	KWEB	KraneShares CSI China Aggressive Push	Pair Corr
0.82	KEMQ	KraneShares Emerging	Pair Corr
0.82	DFCF	Dimensional ETF Trust	Pair Corr
0.64	CVX	Chevron Corp Earnings Call This Week	Pair Corr

Moving against Cabana Etf

0.82	WTID	UBS ETRACS	Pair Corr
0.74	ARKC	ARK 21Shares Active Low Volatility	Pair Corr
0.58	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	MDIV	MFUL	MPRO	MRSK	MSMR	EAOA	EAOK	EAOM	EAOR
MDIV		0.85	0.37	0.92	0.9	0.9	0.88	0.89	0.89	MDIV
MFUL	0.85		0.41	0.87	0.89	0.86	0.87	0.87	0.86	MFUL
MPRO	0.37	0.41		0.43	0.44	0.5	0.51	0.51	0.5	MPRO
MRSK	0.92	0.87	0.43		0.96	0.95	0.96	0.97	0.96	MRSK
MSMR	0.9	0.89	0.44	0.96		0.98	0.95	0.97	0.97	MSMR
EAOA	0.9	0.86	0.5	0.95	0.98		0.97	0.99	1.0	EAOA
EAOK	0.88	0.87	0.51	0.96	0.95	0.97		0.99	0.98	EAOK
EAOM	0.89	0.87	0.51	0.97	0.97	0.99	0.99		0.99	EAOM
EAOR	0.89	0.86	0.5	0.96	0.97	1.0	0.98	0.99		EAOR
	MDIV	MFUL	MPRO	MRSK	MSMR	EAOA	EAOK	EAOM	EAOR

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Cabana Target Constituents Risk-Adjusted Indicators

There is a big difference between Cabana Etf performing well and Cabana Target 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 Cabana Target'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
MDIV	0.34	0.06	(0.39)	(0.38)	0.39	(0.40)	0.84	(0.63)	2.36
MFUL	0.15	0.01	(0.77)	0.30	0.00	(0.18)	0.37	(0.19)	1.03
MPRO	0.36	0.00	(0.25)	0.23	0.10	(0.40)	0.94	(0.54)	2.63
MRSK	0.35	0.12	(0.26)	(1.49)	0.24	(0.40)	0.88	(0.71)	2.35
MSMR	0.37	0.15	(0.18)	16.98	0.00	(0.46)	0.95	(0.55)	2.32
EAOA	0.40	0.19	(0.13)	(1.64)	0.00	(0.48)	1.10	(0.67)	3.16
EAOK	0.21	0.07	(0.56)	(1.50)	0.00	(0.25)	0.51	(0.41)	1.32
EAOM	0.27	0.10	(0.36)	(1.07)	0.10	(0.30)	0.78	(0.59)	1.98
EAOR	0.32	0.15	(0.23)	(1.56)	0.00	(0.37)	0.84	(0.50)	2.53

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