FlexShares Quality Correlations
| QDEF Etf | USD 61.98 0.23 0.37% |
The correlation of FlexShares Quality 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 FlexShares Quality moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if FlexShares Quality Dividend 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.
Almost no diversification
The correlation between FlexShares Quality Dividend and NYA is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FlexShares Quality Dividend and NYA in the same portfolio, assuming nothing else is changed.
FlexShares |
The ability to find closely correlated positions to FlexShares Quality could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace FlexShares Quality 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 FlexShares Quality - 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 FlexShares Quality Dividend to buy it.
Moving together with FlexShares Etf
| 0.92 | VTV | Vanguard Value Index | PairCorr |
| 0.91 | VYM | Vanguard High Dividend | PairCorr |
| 0.94 | IWD | iShares Russell 1000 | PairCorr |
| 0.96 | DGRO | iShares Core Dividend | PairCorr |
| 0.96 | IVE | iShares SP 500 | PairCorr |
| 0.82 | DVY | iShares Select Dividend | PairCorr |
| 0.96 | SPYV | SPDR Portfolio SP | PairCorr |
| 0.94 | FVD | First Trust Value | PairCorr |
| 0.96 | IUSV | iShares Core SP | PairCorr |
| 0.95 | NOBL | ProShares SP 500 | PairCorr |
| 0.72 | OIH | VanEck Oil Services | PairCorr |
| 0.9 | ARKW | ARK Next Generation | PairCorr |
| 0.82 | WTMF | WisdomTree Managed | PairCorr |
| 0.89 | EWC | iShares MSCI Canada | PairCorr |
| 0.79 | WMT | Walmart Financial Report 16th of May 2024 | PairCorr |
Moving against FlexShares Etf
| 0.45 | HUM | Humana Inc Financial Report 7th of August 2024 | PairCorr |
Related Correlations Analysis
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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
| High negative correlations
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FlexShares Quality Constituents Risk-Adjusted Indicators
There is a big difference between FlexShares Etf performing well and FlexShares Quality 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 FlexShares Quality'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ACVF | 0.60 | (0.02) | (0.03) | 0.06 | 0.60 | 1.10 | 3.87 | |||
| DRLL | 0.65 | 0.19 | 0.20 | 0.42 | 0.41 | 1.39 | 3.88 | |||
| 444859BR2 | 0.76 | 0.09 | 0.02 | 0.58 | 1.07 | 2.45 | 10.50 | |||
| AQUI | 0.60 | 0.28 | 0.00 | 2.59 | 0.00 | 0.00 | 20.00 | |||
| BRRAY | 1.02 | 0.13 | 0.00 | 0.30 | 0.00 | 0.00 | 18.45 | |||
| MSTSX | 0.47 | (0.01) | (0.03) | 0.07 | 0.61 | 1.03 | 3.20 | |||
| LBHIX | 0.19 | (0.03) | (0.25) | (0.04) | 0.23 | 0.49 | 1.21 | |||
| ABHYX | 0.16 | 0.00 | (0.19) | 0.07 | 0.19 | 0.45 | 1.61 | |||
| SCAXF | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| VIASP | 1.36 | 0.14 | 0.07 | 0.21 | 1.84 | 3.19 | 13.41 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in FlexShares Quality 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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Already Invested in FlexShares Quality Dividend?
The danger of trading FlexShares Quality Dividend is mainly related to its market volatility and 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 FlexShares Quality 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 FlexShares Quality. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile FlexShares Quality 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.
When determining whether FlexShares Quality is a strong investment it is important to analyze FlexShares Quality's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact FlexShares Quality's future performance. For an informed investment choice regarding FlexShares Etf, refer to the following important reports: Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in FlexShares Quality Dividend. Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in income. Note that the FlexShares Quality information on this page should be used as a complementary analysis to other FlexShares Quality's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Premium Stories module to follow Macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.
The market value of FlexShares Quality is measured differently than its book value, which is the value of FlexShares that is recorded on the company's balance sheet. Investors also form their own opinion of FlexShares Quality's value that differs from its market value or its book value, called intrinsic value, which is FlexShares Quality's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because FlexShares Quality's market value can be influenced by many factors that don't directly affect FlexShares Quality's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between FlexShares Quality's value and its price as these two are different measures arrived at by different means. Investors typically determine if FlexShares Quality is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, FlexShares Quality'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.