ARK Next Correlations

ARKW Etf

USD 100.11 1.91 1.95%

The current 90-days correlation between ARK Next Generation and ARK Autonomous Technology is 0.03 (i.e., Significant diversification). The correlation of ARK Next 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 Next Correlation With Market

Very weak diversification

The correlation between ARK Next Generation and DJI is 0.51 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARK Next Generation 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 Next Generation. 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

0.89	VGT	Vanguard Information	Pair Corr
0.73	XLK	Technology Select Sector	Pair Corr
0.75	IYW	iShares Technology ETF	Pair Corr
0.66	SMH	VanEck Semiconductor ETF	Pair Corr
0.67	SOXX	iShares Semiconductor ETF	Pair Corr
0.65	CIBR	First Trust NASDAQ	Pair Corr
0.72	FTEC	Fidelity MSCI Information	Pair Corr
0.82	IGV	iShares Expanded Tech	Pair Corr
0.98	FDN	First Trust Dow	Pair Corr
0.79	IGM	iShares Expanded Tech	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.84	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.96	VBK	Vanguard Small Cap	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.92	AXP	American Express	Pair Corr
0.72	JPM	JPMorgan Chase	Pair Corr
0.89	BAC	Bank of America	Pair Corr
0.79	WMT	Walmart	Pair Corr
0.79	BA	Boeing	Pair Corr
0.79	HPQ	HP Inc	Pair Corr

Moving against ARK Etf

0.97	FNGD	MicroSectors FANG Index	Pair Corr
0.43	JPST	JPMorgan Ultra Short	Pair Corr
0.68	TRV	The Travelers Companies	Pair Corr
0.62	VZ	Verizon Communications	Pair Corr
0.53	JNJ	Johnson Johnson	Pair Corr
0.41	T	ATT Inc Earnings Call Today	Pair Corr
0.39	MCD	McDonalds	Pair Corr
0.35	XOM	Exxon Mobil Corp	Pair Corr
0.31	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	ARKQ	ARKG	ARKF	ARKK	ARKX
ARKQ		0.77	0.85	0.94	0.97	ARKQ
ARKG	0.77		0.93	0.91	0.84	ARKG
ARKF	0.85	0.93		0.97	0.9	ARKF
ARKK	0.94	0.91	0.97		0.94	ARKK
ARKX	0.97	0.84	0.9	0.94		ARKX
	ARKQ	ARKG	ARKF	ARKK	ARKX

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ARK Next Constituents Risk-Adjusted Indicators

There is a big difference between ARK Etf performing well and ARK Next 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 Next'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
ARKQ	1.80	(0.20)	0.00	2.15	0.00	0.00	3.44	(3.76)	11.12
ARKG	2.47	(0.02)	0.02	0.06	2.96	(2.60)	4.77	(5.10)	13.68
ARKF	1.96	(0.10)	0.00	0.60	0.00	0.00	3.56	(4.21)	11.54
ARKK	2.21	(0.22)	0.00	0.66	0.00	0.00	3.75	(4.76)	13.90
ARKX	1.62	(0.07)	0.00	(2.12)	0.00	0.00	3.11	(3.12)	9.43

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