Axonic Strategic Correlations

AXSAX Etf

USD 8.80 0.01 0.11%

The current 90-days correlation between Axonic Strategic Income and Axonic Strategic Income is 0.28 (i.e., Modest diversification). The correlation of Axonic Strategic 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.

Axonic Strategic Correlation With Market

Good diversification

The correlation between Axonic Strategic Income and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Axonic Strategic Income 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 Axonic Strategic Income. 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.

Moving together with Axonic Etf

0.98	AXSIX	Axonic Strategic Income	Pair Corr
0.91	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.9	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.94	DEED	First Trust TCW	Pair Corr
0.91	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.88	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.96	JPIE	JP Morgan Exchange	Pair Corr
0.92	AFIF	Anfield Universal Fixed	Pair Corr
0.95	MUSI	American Century Mul	Pair Corr
0.71	HART	IQ Healthy Hearts	Pair Corr
0.76	HAP	VanEck Natural Resources	Pair Corr
0.92	VYMI	Vanguard International	Pair Corr
0.88	LFAI	Stone Ridge 2050	Pair Corr
0.86	MYMG	SPDR SSGA My2027	Pair Corr
0.9	GLD	SPDR Gold Shares	Pair Corr
0.64	IRTR	iShares Trust	Pair Corr
0.92	IDOG	ALPS International Sector	Pair Corr
0.94	USFR	WisdomTree Floating Rate	Pair Corr
0.72	VHT	Vanguard Health Care	Pair Corr
0.86	GDX	VanEck Gold Miners	Pair Corr
0.68	FFLS	Northern Lights	Pair Corr
0.69	EET	ProShares Ultra MSCI Potential Growth	Pair Corr
0.96	UFIV	US Treasury 5	Pair Corr
0.92	DAX	Global X DAX	Pair Corr
0.62	DMAT	Global X Disruptive	Pair Corr
0.61	VPU	Vanguard Utilities Index	Pair Corr
0.97	QSIG	WisdomTree High Yield Symbol Change	Pair Corr
0.96	IBIH	iShares Trust	Pair Corr
0.93	VGK	Vanguard FTSE Europe	Pair Corr
0.87	IXUS	iShares Core MSCI	Pair Corr

Moving against Axonic Etf

0.73	PRME	Prime Medicine, Common	Pair Corr
0.61	EOS	Eaton Vance Enhanced	Pair Corr
0.44	XOP	SPDR SP Oil	Pair Corr
0.69	VBK	Vanguard Small Cap	Pair Corr
0.38	FCG	First Trust Natural	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.02	0.58	-0.53	0.3	0.43	0.28	0.9	-0.74	-0.03	META
MSFT	-0.02		-0.62	0.02	-0.8	0.7	0.89	0.13	0.43	-0.55	MSFT
UBER	0.58	-0.62		-0.28	0.81	-0.27	-0.53	0.51	-0.84	0.57	UBER
F	-0.53	0.02	-0.28		0.0	-0.09	-0.16	-0.37	0.51	0.36	F
T	0.3	-0.8	0.81	0.0		-0.59	-0.71	0.16	-0.65	0.6	T
A	0.43	0.7	-0.27	-0.09	-0.59		0.8	0.62	0.11	-0.34	A
CRM	0.28	0.89	-0.53	-0.16	-0.71	0.8		0.36	0.23	-0.61	CRM
JPM	0.9	0.13	0.51	-0.37	0.16	0.62	0.36		-0.63	0.06	JPM
MRK	-0.74	0.43	-0.84	0.51	-0.65	0.11	0.23	-0.63		-0.32	MRK
XOM	-0.03	-0.55	0.57	0.36	0.6	-0.34	-0.61	0.06	-0.32		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.81	UBER
CRM	+ 0.8	A
A	+ 0.7	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.84	UBER
T	- 0.8	MSFT
MRK	- 0.74	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

Axonic Strategic Constituents Risk-Adjusted Indicators

There is a big difference between Axonic Etf performing well and Axonic Strategic 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 Axonic Strategic'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
META	1.63	0.04	0.02	0.00	2.27	(1.46)	2.96	(3.73)	8.90
MSFT	1.11	(0.18)	0.00	(0.29)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.40	0.18	0.75	2.03	(2.05)	4.72	(3.13)	12.75
F	1.44	0.14	0.06	0.09	2.12	(1.42)	2.71	(2.88)	10.14
T	0.99	0.29	0.19	0.56	1.43	(1.11)	1.90	(1.55)	11.66
A	1.16	(0.14)	0.00	(0.20)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.40	(0.29)	0.00	(0.29)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.14	0.10	0.05	0.05	1.76	(1.09)	2.16	(3.35)	6.85
MRK	1.16	(0.11)	0.00	1.03	0.00	0.00	2.07	(1.80)	11.58
XOM	1.03	0.13	0.10	0.27	1.28	(1.06)	2.55	(2.36)	5.89

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