ARK Fintech Correlations

ARKF Etf

USD 37.01 0.06 0.16%

The current 90-days correlation between ARK Fintech Innovation and ARK Autonomous Technology is 0.83 (i.e., Very poor diversification). The correlation of ARK Fintech 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

ARK Fintech Correlation With Market

Poor diversification

The correlation between ARK Fintech Innovation and DJI is 0.69 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARK Fintech Innovation and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ARK Fintech Innovation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with ARK Etf

0.83	VGT	Vanguard Information	Pair Corr
0.77	XLK	Technology Select Sector	Pair Corr
0.87	IYW	iShares Technology ETF	Pair Corr
0.71	SMH	VanEck Semiconductor ETF	Pair Corr
0.71	SOXX	iShares Semiconductor ETF	Pair Corr
0.81	CIBR	First Trust NASDAQ	Pair Corr
0.74	FTEC	Fidelity MSCI Information	Pair Corr
0.88	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.95	FDN	First Trust Dow	Pair Corr
0.93	IGM	iShares Expanded Tech	Pair Corr
0.92	VTI	Vanguard Total Stock	Pair Corr
0.68	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.84	VBK	Vanguard Small Cap	Pair Corr
0.62	NFLX	Netflix	Pair Corr
0.86	AXP	American Express	Pair Corr
0.87	JPM	JPMorgan Chase	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr
0.86	WMT	Walmart	Pair Corr
0.74	BA	Boeing	Pair Corr
0.68	HPQ	HP Inc	Pair Corr

Moving against ARK Etf

0.9	FNGD	MicroSectors FANG Index	Pair Corr
0.52	TRV	The Travelers Companies	Pair Corr
0.48	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.45	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	ARKQ	ARKW	ARKG	ARKK	ARKX
ARKQ		0.89	0.75	0.94	0.94	ARKQ
ARKW	0.89		0.9	0.95	0.94	ARKW
ARKG	0.75	0.9		0.87	0.85	ARKG
ARKK	0.94	0.95	0.87		0.9	ARKK
ARKX	0.94	0.94	0.85	0.9		ARKX
	ARKQ	ARKW	ARKG	ARKK	ARKX

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ARK Fintech Constituents Risk-Adjusted Indicators

There is a big difference between ARK Etf performing well and ARK Fintech 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 ARK Fintech'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
ARKQ	1.85	(0.15)	(0.08)	4.09	(4.01)	11.12
ARKW	2.06	(0.11)	(0.05)	3.75	(4.50)	13.15
ARKG	2.56	(0.04)	(0.02)	4.77	(5.67)	13.68
ARKK	2.27	(0.20)	(0.09)	4.01	(5.21)	13.90
ARKX	1.64	(0.09)	(0.06)	3.11	(3.12)	9.43

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