Amplify Seymour Correlations

CNBS Etf

USD 17.49 0.12 0.69%

The correlation of Amplify Seymour 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 Seymour Correlation With Market

Modest diversification

The correlation between Amplify Seymour Cannabis and DJI is 0.28 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Seymour Cannabis 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 Seymour Cannabis. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with Amplify Etf

0.67	TAN	Invesco Solar ETF	Pair Corr
0.89	QCLN	First Trust NASDAQ	Pair Corr
0.86	ACES	ALPS Clean Energy	Pair Corr
0.67	IPAY	Amplify ETF Trust	Pair Corr
0.95	MSOS	AdvisorShares Pure	Pair Corr
0.94	MJ	Amplify ETF Trust	Pair Corr
0.71	DIS	Walt Disney	Pair Corr
0.75	HPQ	HP Inc	Pair Corr

Moving against Amplify Etf

0.83	XPP	ProShares Ultra FTSE	Pair Corr
0.81	BABX	GraniteShares 175x Long	Pair Corr
0.8	TRV	The Travelers Companies	Pair Corr
0.76	GDXU	MicroSectors Gold Miners	Pair Corr
0.76	JNUG	Direxion Daily Junior	Pair Corr
0.79	T	ATT Inc Sell-off Trend	Pair Corr
0.78	KO	Coca Cola	Pair Corr
0.7	CVX	Chevron Corp	Pair Corr
0.6	GE	GE Aerospace	Pair Corr
0.59	MCD	McDonalds	Pair Corr
0.55	IBM	International Business	Pair Corr
0.47	PG	Procter Gamble	Pair Corr
0.42	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	THCX	YOLO	TOKE	POTX	MSOS
THCX		0.0	0.0	0.0	0.0	THCX
YOLO	0.0		0.91	0.0	0.96	YOLO
TOKE	0.0	0.91		0.0	0.89	TOKE
POTX	0.0	0.0	0.0		0.0	POTX
MSOS	0.0	0.96	0.89	0.0		MSOS
	THCX	YOLO	TOKE	POTX	MSOS

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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

MSOS	+ 0.96	YOLO
TOKE	+ 0.91	YOLO
MSOS	+ 0.89	TOKE
YOLO	+ 0.0	THCX
TOKE	+ 0.0	THCX
POTX	+ 0.0	THCX

High negative correlations

MSOS	- 0.0	POTX
POTX	- 0.0	TOKE
POTX	- 0.0	YOLO
MSOS	- 0.0	THCX
POTX	- 0.0	THCX
TOKE	- 0.0	THCX

Amplify Seymour Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify Seymour 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 Seymour'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
THCX	0.00	0.00	0.00	0.00	0.00	0.00
YOLO	1.79	(0.29)	(0.44)	2.98	(3.79)	9.04
TOKE	1.08	(0.10)	(0.17)	2.41	(2.16)	5.73
POTX	0.00	0.00	0.00	0.00	0.00	0.00
MSOS	3.01	(0.49)	4.88	6.72	(6.71)	17.60

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