ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B due October 21, 2049
What is HDLB?
The ETRACS Monthly Pay 2xLeveraged US High Dividend Low Volatility ETN Series B (NYSE: HDLB) ( HDLB or the ETN ) is an Exchange Traded Note linked to the monthly compounded 2x leveraged performance of the Solactive US High Dividend Low Volatility Index. The Index is calculated and distributed by Solactive AG and is intended to track the price movements of stocks which are publicly traded on US stock exchanges and fulfill certain minimum requirements in terms of liquidity and market capitalization. From this universe, the stocks with high Forward Looking Distribution Yield and low 12-Month Trailing Realized Volatility are selected (each of the preceding capitalized terms as defined in the applicable pricing supplement).
ETFs related toHDLB
ETFs correlated to HDLB include SPHD, SPYD, DVY
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
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We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.