United States Correlations

USO Etf

USD 73.10 0.49 0.67%

The current 90-days correlation between United States Oil and Energy Select Sector is 0.57 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as United States moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if United States Oil moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

United States Correlation With Market

Good diversification

The correlation between United States Oil and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding United States Oil 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 United States Oil. 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 against United Etf

0.32	SHYL	Xtrackers Short Duration	Pair Corr
0.31	ETHE	Grayscale Ethereum Trust	Pair Corr
0.31	FNCL	Fidelity MSCI Financials	Pair Corr
0.31	CPAI	Northern Lights	Pair Corr

Related Correlations Analysis

	UNG	GLD	UCO	XLE	SLV
UNG		-0.34	0.25	-0.22	-0.27	UNG
GLD	-0.34		0.07	-0.21	0.85	GLD
UCO	0.25	0.07		0.12	0.09	UCO
XLE	-0.22	-0.21	0.12		-0.16	XLE
SLV	-0.27	0.85	0.09	-0.16		SLV
	UNG	GLD	UCO	XLE	SLV

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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

SLV	+ 0.85	GLD
UCO	+ 0.25	UNG
XLE	+ 0.12	UCO
SLV	+ 0.09	UCO
UCO	+ 0.07	GLD

High negative correlations

GLD	- 0.34	UNG
SLV	- 0.27	UNG
XLE	- 0.22	UNG
XLE	- 0.21	GLD
SLV	- 0.16	XLE

United States Constituents Risk-Adjusted Indicators

There is a big difference between United Etf performing well and United States 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 United States' 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
UNG	2.89	0.18	0.04	(4.60)	3.87	(2.70)	5.82	(5.54)	18.56
GLD	0.77	0.02	(0.01)	(0.16)	1.18	(0.70)	1.32	(1.92)	4.85
UCO	2.47	0.03	0.00	(0.01)	3.25	(2.65)	5.25	(5.65)	16.55
XLE	0.92	(0.09)	0.00	(0.11)	0.00	0.00	1.76	(2.41)	6.72
SLV	1.43	(0.06)	0.00	4.68	0.00	0.00	2.88	(3.25)	10.49

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