Axonic Strategic Correlations

AXSIX Etf

USD 8.97 0.01 0.11%

The current 90-days correlation between Axonic Strategic Income and Axonic Strategic Income is 0.9 (i.e., Almost no 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.

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 gross domestic product.

Moving together with Axonic Etf

0.99	AXSAX	Axonic Strategic Income	Pair Corr
0.77	SMCRX	ALPSSmith Credit Opp	Pair Corr
0.78	SMCVX	ALPSSmith Credit Opp	Pair Corr
0.66	DEED	First Trust TCW	Pair Corr
0.75	SMCAX	DEUTSCHE MID CAP	Pair Corr
0.69	SMCCX	DEUTSCHE MID CAP	Pair Corr
0.9	JPIE	JP Morgan Exchange	Pair Corr
0.85	AFIF	Anfield Universal Fixed	Pair Corr
0.87	MUSI	American Century Mul	Pair Corr
0.73	SHLD	Global X Funds	Pair Corr
0.81	LUX	Tema ETF Trust	Pair Corr
0.66	EEM	iShares MSCI Emerging	Pair Corr
0.8	FALN	iShares Fallen Angels	Pair Corr
0.84	IBIG	iShares Trust	Pair Corr
0.77	SCHP	Schwab TIPS ETF	Pair Corr
0.83	IAUM	iShares Gold Trust	Pair Corr
0.77	ISVL	iShares International	Pair Corr
0.81	IDEV	iShares Core MSCI	Pair Corr
0.65	KEM	KraneShares Trust	Pair Corr
0.79	XDAP	Innovator Equity Acc	Pair Corr
0.92	NEAR	iShares Short Maturity	Pair Corr
0.76	IHE	iShares Pharmaceuticals	Pair Corr
0.84	JOJO	Tidal ETF Trust	Pair Corr
0.77	OVT	Listed Funds Trust	Pair Corr
0.71	MAPP	Harbor ETF Trust	Pair Corr
0.75	IXG	iShares Global Financials	Pair Corr
0.65	SMTH	ALPS ETF Trust	Pair Corr
0.86	IBHG	iShares iBonds 2027	Pair Corr
0.86	CADUX	Cion Ares Diversified	Pair Corr
0.7	EMLC	VanEck JP Morgan Sell-off Trend	Pair Corr
0.83	TDTF	FlexShares iBoxx 5	Pair Corr

Moving against Axonic Etf

0.46

FNGD

MicroSectors FANG Index Downward Rally

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.44	0.59	-0.64	0.75	0.3	-0.21	0.85	-0.83	-0.32	META
MSFT	-0.44		-0.65	0.39	-0.6	0.27	0.76	-0.51	0.62	0.01	MSFT
UBER	0.59	-0.65		-0.2	0.75	-0.09	-0.53	0.74	-0.76	0.33	UBER
F	-0.64	0.39	-0.2		-0.38	0.04	0.44	-0.39	0.64	0.74	F
T	0.75	-0.6	0.75	-0.38		-0.17	-0.42	0.69	-0.78	0.04	T
A	0.3	0.27	-0.09	0.04	-0.17		0.3	0.44	0.04	-0.11	A
CRM	-0.21	0.76	-0.53	0.44	-0.42	0.3		-0.31	0.47	0.1	CRM
JPM	0.85	-0.51	0.74	-0.39	0.69	0.44	-0.31		-0.79	-0.04	JPM
MRK	-0.83	0.62	-0.76	0.64	-0.78	0.04	0.47	-0.79		0.17	MRK
XOM	-0.32	0.01	0.33	0.74	0.04	-0.11	0.1	-0.04	0.17		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	+ 0.85	META
CRM	+ 0.76	MSFT
T	+ 0.75	META
T	+ 0.75	UBER
JPM	+ 0.74	UBER
XOM	+ 0.74	F

High negative correlations

MRK	- 0.83	META
MRK	- 0.79	JPM
MRK	- 0.78	T
MRK	- 0.76	UBER
UBER	- 0.65	MSFT
F	- 0.64	META

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	1.36	0.28	0.17	0.57	1.44	(1.42)	3.22	(2.29)	7.11
MSFT	1.03	(0.05)	0.00	(0.16)	0.00	0.00	2.20	(1.90)	10.31
UBER	1.95	0.16	0.06	3.78	2.78	(1.95)	4.72	(3.13)	12.29
F	1.35	(0.11)	0.00	(0.13)	0.00	0.00	2.55	(2.89)	10.97
T	0.94	0.30	0.27	0.50	0.88	(1.12)	1.90	(1.75)	7.94
A	1.07	(0.03)	0.00	(0.07)	0.00	0.00	2.81	(2.16)	9.03
CRM	1.45	(0.15)	0.00	(0.22)	0.00	0.00	2.21	(3.81)	15.92
JPM	0.89	0.14	0.11	0.15	1.16	(0.97)	1.97	(1.51)	6.85
MRK	1.26	(0.10)	0.00	(2.54)	0.00	0.00	2.15	(2.24)	11.57
XOM	0.91	(0.12)	0.00	(0.43)	0.00	0.00	1.76	(2.14)	5.69

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Axonic Strategic Correlations

Moving together with Axonic Etf

Moving against Axonic Etf

Related Correlations Analysis

Correlation Matchups

Axonic Strategic Constituents Risk-Adjusted Indicators

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