Amplify ETF Correlations

AWAY Etf

USD 20.48 0.02 0.1%

The current 90-days correlation between Amplify ETF Trust and Invesco Dynamic Leisure is 0.74 (i.e., Poor diversification). The correlation of Amplify ETF 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.

Amplify ETF Correlation With Market

Good diversification

The correlation between Amplify ETF Trust and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify ETF Trust 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 Amplify ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Amplify Etf please use our How to Invest in Amplify ETF guide.

Moving together with Amplify Etf

0.75	XLY	Consumer Discretionary	Pair Corr
0.75	FDIS	Fidelity MSCI Consumer	Pair Corr
0.73	IYC	iShares Consumer Dis	Pair Corr
0.93	PEJ	Invesco Dynamic Leisure	Pair Corr
0.84	FXD	First Trust Consumer	Pair Corr
0.73	XRT	SPDR SP Retail	Pair Corr
0.65	LUX	Tema ETF Trust	Pair Corr
0.88	SWP	SWP Growth Income	Pair Corr
0.88	WINN	Harbor Long Term	Pair Corr
0.76	BA	Boeing	Pair Corr
0.69	BAC	Bank of America	Pair Corr
0.73	AXP	American Express	Pair Corr
0.63	HD	Home Depot	Pair Corr
0.77	WMT	Walmart	Pair Corr

Moving against Amplify Etf

0.89	FNGD	MicroSectors FANG Index	Pair Corr
0.49	SHLD	Global X Funds	Pair Corr
0.5	MRK	Merck Company	Pair Corr
0.33	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	PEJ	JETS	PAVE	ONLN	QCLN
PEJ		0.78	0.74	0.94	0.46	PEJ
JETS	0.78		0.91	0.7	0.83	JETS
PAVE	0.74	0.91		0.74	0.74	PAVE
ONLN	0.94	0.7	0.74		0.37	ONLN
QCLN	0.46	0.83	0.74	0.37		QCLN
	PEJ	JETS	PAVE	ONLN	QCLN

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Amplify ETF Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify ETF 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 Amplify ETF'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
PEJ	1.04	(0.10)	1.19	1.72	(3.00)	6.09
JETS	1.29	(0.24)	(3.35)	2.37	(2.96)	8.37
PAVE	1.00	(0.11)	(14.14)	2.14	(2.34)	5.94
ONLN	1.28	(0.07)	0.62	2.52	(2.89)	6.77
QCLN	1.52	(0.27)	1.57	2.25	(3.03)	9.45

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