BZDYF Correlations
| BZDYF Etf | USD 29.93 0.00 0.00% |
The correlation of BZDYF 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as BZDYF moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if BZDYF moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Good diversification
The correlation between BZDYF and NYA is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding BZDYF and NYA in the same portfolio, assuming nothing else is changed.
BZDYF |
The ability to find closely correlated positions to BZDYF could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace BZDYF when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back BZDYF - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling BZDYF to buy it.
Moving together with BZDYF OTC Etf
| 0.64 | VTV | Vanguard Value Index | PairCorr |
| 0.69 | ALUM | USCF Aluminum Strategy | PairCorr |
| 0.67 | SQY | YieldMax SQ Option | PairCorr |
| 0.78 | MRNY | YieldMax MRNA Option | PairCorr |
Moving against BZDYF OTC Etf
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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BZDYF Competition Risk-Adjusted Indicators
There is a big difference between BZDYF OTC Etf performing well and BZDYF OTC 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 BZDYF'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.53 | (0.07) | (0.01) | 0.03 | 2.49 | 3.21 | 14.43 | |||
| MSFT | 0.99 | (0.08) | (0.06) | 0.00 | 1.24 | 2.22 | 5.87 | |||
| UBER | 1.70 | (0.20) | 0.00 | (0.03) | 0.00 | 2.83 | 20.45 | |||
| F | 1.37 | (0.18) | 0.00 | (0.02) | 0.00 | 2.82 | 10.93 | |||
| T | 0.81 | (0.02) | (0.06) | 0.02 | 1.07 | 1.61 | 4.04 | |||
| A | 1.21 | 0.08 | 0.08 | 0.13 | 1.26 | 2.74 | 6.31 | |||
| CRM | 1.19 | (0.17) | 0.00 | (0.04) | 0.00 | 2.64 | 10.84 | |||
| JPM | 0.80 | 0.10 | 0.08 | 0.16 | 1.22 | 1.94 | 8.65 | |||
| MRK | 0.64 | 0.00 | (0.05) | 0.07 | 0.70 | 1.35 | 6.69 | |||
| XOM | 0.81 | 0.19 | 0.15 | 0.50 | 0.74 | 1.96 | 5.64 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in BZDYF without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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The danger of trading BZDYF is mainly related to its market volatility and OTC Etf specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of BZDYF is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than BZDYF. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile BZDYF is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in BZDYF. Also, note that the market value of any otc etf could be tightly coupled with the direction of predictive economic indicators such as signals in manufacturing. You can also try the Fundamental Analysis module to view fundamental data based on most recent published financial statements.
Please note, there is a significant difference between BZDYF's value and its price as these two are different measures arrived at by different means. Investors typically determine if BZDYF is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, BZDYF's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.