Wedbush ETFMG Global Cloud Technology ETF
Top 10 Holdings
What is IVES?
The Wedbush ETFMG Global Cloud Technology ETF (IVES) largely holds the undercover gems of cloud-based technology. The Fund s investment objective seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performanceof the Dan Ives Global Cloud Technology Prime Index. The Index is designed to include the securities of companies across the globe engaged in providing infrastructure, equipment, connectivity, data back-up and storage services as well as data center management for enterprise-based software applications. Additionally, the constituents engaged in providing cloud-based software platforms that enable businesses to move data and software applications onto the cloud cloud-enabling Software as a Service (SaaS) technologies. These companies are known collectively as "Cloud Technology Companies".
ETFs related toIVES
ETFs correlated to IVES include WCLD, SKYY, XSW
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.