ARK Autonomous Correlations

ARKQ Etf

USD 73.63 0.83 1.14%

The current 90-days correlation between ARK Autonomous Technology and ARK Fintech Innovation is 0.19 (i.e., Average diversification). The correlation of ARK Autonomous 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ARK Autonomous Correlation With Market

Weak diversification

The correlation between ARK Autonomous Technology and DJI is 0.32 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARK Autonomous Technology 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 Autonomous Technology. 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

0.73	FDN	First Trust Dow	Pair Corr
0.77	IGM	iShares Expanded Tech	Pair Corr
0.77	ARKW	ARK Next Generation	Pair Corr
0.78	AXP	American Express	Pair Corr

Moving against ARK Etf

0.56	IRET	iREIT MarketVector	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.64	XOM	Exxon Mobil Corp	Pair Corr
0.52	PG	Procter Gamble	Pair Corr
0.47	INTC	Intel	Pair Corr
0.45	DD	Dupont De Nemours	Pair Corr
0.41	DIS	Walt Disney	Pair Corr
0.31	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	ARKF	ARKW	ARKG	ARKK	ARKX
ARKF		0.82	0.81	0.83	0.57	ARKF
ARKW	0.82		0.74	0.97	0.78	ARKW
ARKG	0.81	0.74		0.81	0.71	ARKG
ARKK	0.83	0.97	0.81		0.78	ARKK
ARKX	0.57	0.78	0.71	0.78		ARKX
	ARKF	ARKW	ARKG	ARKK	ARKX

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ARK Autonomous Constituents Risk-Adjusted Indicators

There is a big difference between ARK Etf performing well and ARK Autonomous 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 Autonomous' 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
ARKF	1.60	0.02	0.01	1.75	2.16	(1.63)	3.23	(3.44)	9.22
ARKW	1.62	0.04	0.02	0.05	2.24	(1.53)	3.17	(4.10)	9.63
ARKG	2.40	0.19	0.07	0.12	2.67	(2.67)	4.99	(4.19)	13.35
ARKK	1.89	0.04	0.02	0.04	2.44	(1.99)	3.46	(3.68)	11.19
ARKX	1.64	0.12	0.06	0.12	1.79	(1.77)	2.96	(2.73)	9.43

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