TGN Correlations

Summary

TGN Etf

31.78 0.00 0.00%

The current 90-days correlation between TGN and Blackrock Muniholdings Ny is 0.13 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as TGN moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if TGN moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

TGN Correlation With Market

Average diversification

The correlation between TGN and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TGN and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with TGN Etf

0.81	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.7	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.67	VO	Vanguard Mid Cap	Pair Corr
0.84	DSJA	DSJA	Pair Corr
0.89	RSPY	Tuttle Capital Management	Pair Corr
0.89	MEME	Roundhill Investments	Pair Corr
0.75	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.71	PG	Procter Gamble	Pair Corr
0.74	HD	Home Depot Sell-off Trend	Pair Corr
0.8	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.71	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.77	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.72	WMT	Walmart	Pair Corr
0.76	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr

Moving against TGN Etf

0.66	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.35	HPQ	HP Inc Fiscal Year End 19th of November 2024	Pair Corr
0.76	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.68	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.65	INTC	Intel Aggressive Push	Pair Corr
0.56	MRK	Merck Company Sell-off Trend	Pair Corr
0.54	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.4	MSFT	Microsoft Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.1	0.71	-0.25	0.4	0.15	0.38	0.14	-0.24	-0.05	META
MSFT	0.1		0.3	0.77	-0.44	-0.73	0.09	-0.33	0.83	-0.48	MSFT
UBER	0.71	0.3		0.18	0.21	0.04	0.38	0.32	0.11	-0.04	UBER
F	-0.25	0.77	0.18		-0.46	-0.63	0.02	-0.02	0.76	-0.24	F
T	0.4	-0.44	0.21	-0.46		0.55	0.17	0.35	-0.56	0.05	T
A	0.15	-0.73	0.04	-0.63	0.55		0.22	0.51	-0.68	0.51	A
CRM	0.38	0.09	0.38	0.02	0.17	0.22		0.57	-0.2	0.46	CRM
JPM	0.14	-0.33	0.32	-0.02	0.35	0.51	0.57		-0.38	0.53	JPM
MRK	-0.24	0.83	0.11	0.76	-0.56	-0.68	-0.2	-0.38		-0.44	MRK
XOM	-0.05	-0.48	-0.04	-0.24	0.05	0.51	0.46	0.53	-0.44		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MRK	+ 0.83	MSFT
F	+ 0.77	MSFT
MRK	+ 0.76	F
UBER	+ 0.71	META
JPM	+ 0.57	CRM
A	+ 0.55	T

High negative correlations

A	- 0.73	MSFT
MRK	- 0.68	A
A	- 0.63	F
MRK	- 0.56	T
XOM	- 0.48	MSFT
T	- 0.46	F

TGN Competition Risk-Adjusted Indicators

There is a big difference between TGN Etf performing well and TGN 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 TGN'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	1.57	0.10	0.03	0.23	2.00	(1.55)	3.93	(3.21)	11.55
MSFT	1.00	(0.14)	0.00	(0.04)	0.00	0.00	1.83	(2.45)	5.77
UBER	1.80	(0.03)	(0.01)	0.09	2.12	(2.16)	5.29	(3.33)	13.81
F	1.70	(0.23)	0.00	(0.04)	0.00	0.00	3.21	(3.24)	22.50
T	0.94	0.29	0.13	(7.88)	1.00	(1.06)	2.53	(2.20)	7.97
A	1.06	(0.05)	(0.04)	0.06	1.36	(1.01)	2.69	(2.08)	6.98
CRM	1.33	0.08	0.07	0.17	1.30	(1.47)	3.78	(2.21)	7.90
JPM	1.10	(0.02)	0.00	0.10	1.67	(1.00)	2.05	(2.38)	7.98
MRK	1.10	(0.12)	0.00	5.02	0.00	0.00	2.01	(2.09)	13.12
XOM	1.07	0.01	(0.02)	0.13	1.28	(1.10)	2.10	(2.09)	6.61

TGN Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with TGN etf to make a market-neutral strategy. Peer analysis of TGN could also be used in its relative valuation, which is a method of valuing TGN by comparing valuation metrics with similar companies.

Blackrock Muniholdings Ny MFS Investment Grade Eaton Vance National Invesco High Income Nuveen California Select RiverNorth Managed Duration Blackrock Muniholdings Closed Putnam Managed Municipal Nuveen Dynamic Municipal Federated Premier Municipal American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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