Cabana Target Correlations

TDSB Etf

USD 23.77 0.04 0.17%

The current 90-days correlation between Cabana Target Drawdown and SGI Dynamic Tactical is 0.79 (i.e., Poor 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

Very weak diversification

The correlation between Cabana Target Drawdown and DJI is 0.46 (i.e., Very weak 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 main economic indicators.

Moving together with Cabana Etf

0.64	TDSC	Cabana Target Drawdown	Pair Corr
0.73	YYY	Amplify High Income	Pair Corr
0.76	FVC	First Trust Dorsey	Pair Corr
0.96	GMOM	Cambria Global Momentum	Pair Corr
0.86	AGOX	Adaptive Alpha Oppor	Pair Corr
0.93	TACK	Fairlead Tactical Sector	Pair Corr
0.75	DALI	First Trust Dorsey	Pair Corr
0.86	MAGS	Roundhill Magnificent	Pair Corr
0.99	ARP	Advisors Inner Circle	Pair Corr
0.7	PLT	Defiance Leveraged Long	Pair Corr
0.87	SEMI	Columbia Seligman	Pair Corr
0.8	ETHO	Amplify Etho Climate	Pair Corr
0.94	KARS	KraneShares Electric	Pair Corr
0.92	UDEC	Innovator SP 500	Pair Corr
0.65	JNK	SPDR Bloomberg High	Pair Corr
0.75	YMAG	YieldMax Magnificent	Pair Corr
0.78	PRF	Invesco FTSE RAFI	Pair Corr
0.88	GENT	Spinnaker ETF Series	Pair Corr
0.97	GLTR	abrdn Physical Precious	Pair Corr
0.89	FLJH	Franklin FTSE Japan	Pair Corr
0.98	PICK	iShares MSCI Global	Pair Corr
0.85	AXSAX	Axonic Strategic Income	Pair Corr
0.77	EMLC	VanEck JP Morgan	Pair Corr
0.73	QMOM	Alpha Architect Quan	Pair Corr
0.84	XJUN	First Trust Exchange	Pair Corr
0.93	JANW	AIM ETF Products	Pair Corr
0.86	SDTY	YieldMax SP 500	Pair Corr
0.77	JUNP	PGIM Large Cap	Pair Corr
0.69	GAEM	Simplify Exchange Traded	Pair Corr
0.9	ITOT	iShares Core SP	Pair Corr
0.9	AIPO	Defiance AI Power	Pair Corr
0.97	UMMA	Wahed Dow Jones	Pair Corr
0.95	UNOV	Innovator SP 500	Pair Corr

Related Correlations Analysis

	DYTA	DECZ	JUNW	SXQG	NVBW	URE	LEAD	WLTG	JUNM	IGTR
DYTA		0.94	0.89	0.37	0.91	-0.04	0.88	0.96	0.91	0.85	DYTA
DECZ	0.94		0.88	0.49	0.88	-0.2	0.94	0.98	0.88	0.89	DECZ
JUNW	0.89	0.88		0.43	0.98	0.05	0.83	0.88	0.99	0.88	JUNW
SXQG	0.37	0.49	0.43		0.4	0.22	0.55	0.42	0.36	0.5	SXQG
NVBW	0.91	0.88	0.98	0.4		0.01	0.81	0.88	0.99	0.9	NVBW
URE	-0.04	-0.2	0.05	0.22	0.01		-0.11	-0.12	0.02	-0.04	URE
LEAD	0.88	0.94	0.83	0.55	0.81	-0.11		0.92	0.82	0.86	LEAD
WLTG	0.96	0.98	0.88	0.42	0.88	-0.12	0.92		0.89	0.88	WLTG
JUNM	0.91	0.88	0.99	0.36	0.99	0.02	0.82	0.89		0.88	JUNM
IGTR	0.85	0.89	0.88	0.5	0.9	-0.04	0.86	0.88	0.88		IGTR
	DYTA	DECZ	JUNW	SXQG	NVBW	URE	LEAD	WLTG	JUNM	IGTR

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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

JUNM	+ 0.99	JUNW
JUNM	+ 0.99	NVBW
WLTG	+ 0.98	DECZ
NVBW	+ 0.98	JUNW
WLTG	+ 0.96	DYTA
DECZ	+ 0.94	DYTA

High negative correlations

URE	- 0.2	DECZ
WLTG	- 0.12	URE
LEAD	- 0.11	URE
IGTR	- 0.04	URE
URE	- 0.04	DYTA

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
DYTA	0.16	0.02	(0.25)	0.15	0.00	(0.19)	0.42	(0.27)	0.97
DECZ	0.42	(0.02)	(0.06)	0.07	0.48	(0.44)	1.01	(0.91)	3.44
JUNW	0.11	0.02	(0.38)	(0.48)	0.00	(0.13)	0.31	(0.18)	1.13
SXQG	0.44	(0.07)	(0.15)	0.00	0.56	(0.47)	0.98	(0.80)	3.16
NVBW	0.10	0.02	(0.38)	(0.56)	0.00	(0.12)	0.30	(0.24)	1.02
URE	1.20	0.05	(0.04)	(0.06)	1.72	(1.21)	2.83	(2.25)	8.90
LEAD	0.61	(0.05)	(0.06)	0.05	0.74	(0.61)	1.32	(1.06)	4.03
WLTG	0.61	0.02	0.02	0.12	0.71	(0.69)	1.26	(1.12)	4.60
JUNM	0.07	0.00	(0.90)	0.09	0.00	(0.09)	0.18	(0.09)	0.53
IGTR	0.95	0.01	0.05	0.10	1.15	(1.06)	2.19	(1.51)	7.88

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