Amplify Lithium Correlations

BATT Etf

USD 8.76 0.20 2.23%

The current 90-days correlation between Amplify Lithium Battery and KraneShares Electric Vehicles is 0.81 (i.e., Very poor diversification). The correlation of Amplify Lithium 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 Lithium Correlation With Market

Good diversification

The correlation between Amplify Lithium Battery and DJI is -0.11 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Lithium Battery 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 Lithium Battery. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Amplify Etf

0.65

Alcoa Corp

Pair Corr

Moving against Amplify Etf

0.46	PMBS	PIMCO Mortgage Backed	Pair Corr
0.46	YCL	ProShares Ultra Yen	Pair Corr
0.42	FXY	Invesco CurrencyShares	Pair Corr
0.42	ULE	ProShares Ultra Euro	Pair Corr
0.61	PG	Procter Gamble	Pair Corr
0.46	VZ	Verizon Communications	Pair Corr
0.4	KO	Coca Cola	Pair Corr
0.38	T	ATT Inc Sell-off Trend	Pair Corr

Related Correlations Analysis

	KARS	IDRV	HAIL	LIT	DRIV
KARS		0.93	-0.32	0.32	-0.02	KARS
IDRV	0.93		-0.22	0.37	0.11	IDRV
HAIL	-0.32	-0.22		0.3	0.72	HAIL
LIT	0.32	0.37	0.3		0.48	LIT
DRIV	-0.02	0.11	0.72	0.48		DRIV
	KARS	IDRV	HAIL	LIT	DRIV

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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

IDRV	+ 0.93	KARS
DRIV	+ 0.72	HAIL
DRIV	+ 0.48	LIT
LIT	+ 0.37	IDRV
LIT	+ 0.32	KARS
LIT	+ 0.3	HAIL

High negative correlations

HAIL	- 0.32	KARS
HAIL	- 0.22	IDRV
DRIV	- 0.02	KARS

Amplify Lithium Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify Lithium 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 Lithium'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
KARS	1.27	0.01	0.04	(0.11)	1.47	(1.37)	2.66	(2.17)	6.01
IDRV	1.26	0.04	0.06	(0.17)	1.45	(1.38)	2.63	(2.40)	7.12
HAIL	1.43	(0.07)	0.00	0.31	0.00	0.00	2.52	(2.95)	8.33
LIT	1.03	(0.08)	0.00	(0.23)	0.00	0.00	1.91	(2.12)	5.44
DRIV	1.17	(0.04)	0.00	0.33	0.00	0.00	2.36	(2.29)	6.92

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