Defiance Hotel Correlations

CRUZ Etf

USD 24.40 0.44 1.84%

The current 90-days correlation between Defiance Hotel Airline and Strategy Shares is 0.06 (i.e., Significant diversification). The correlation of Defiance Hotel 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.

Defiance Hotel Correlation With Market

Significant diversification

The correlation between Defiance Hotel Airline and DJI is 0.06 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Hotel Airline 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 Defiance Hotel Airline. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Defiance Etf

0.93	XLY	Consumer Discretionary	Pair Corr
0.92	VCR	Vanguard Consumer	Pair Corr
0.75	ITB	iShares Home Construction Low Volatility	Pair Corr
0.92	FDIS	Fidelity MSCI Consumer	Pair Corr
0.79	XHB	SPDR SP Homebuilders	Pair Corr
0.98	IYC	iShares Consumer Dis	Pair Corr
0.92	PEJ	Invesco Dynamic Leisure	Pair Corr
0.96	FXD	First Trust Consumer	Pair Corr
0.9	RCD	Ready Capital	Pair Corr
0.89	XRT	SPDR SP Retail	Pair Corr
0.9	SWP	SWP Growth Income	Pair Corr
0.94	WINN	Harbor Long Term	Pair Corr
0.64	BA	Boeing	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr
0.88	AXP	American Express	Pair Corr
0.69	DIS	Walt Disney	Pair Corr
0.82	HD	Home Depot	Pair Corr
0.74	WMT	Walmart	Pair Corr
0.64	HPQ	HP Inc	Pair Corr

Moving against Defiance Etf

0.91	FNGD	MicroSectors FANG Index Downward Rally	Pair Corr
0.71	SHLD	Global X Funds	Pair Corr
0.53	VZ	Verizon Communications	Pair Corr
0.52	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.41	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.13	-0.08	-0.03	0.11	-0.02	-0.11	-0.04	-0.08	DHSB
MBOX	-0.13		0.27	0.06	-0.34	0.53	0.91	0.22	0.78	MBOX
DIEM	-0.08	0.27		0.87	0.14	-0.39	0.49	0.8	0.64	DIEM
MCHI	-0.03	0.06	0.87		0.5	-0.54	0.39	0.93	0.58	MCHI
DIPS	0.11	-0.34	0.14	0.5		-0.54	-0.05	0.58	0.1	DIPS
DISO	-0.02	0.53	-0.39	-0.54	-0.54		0.35	-0.52	0.1	DISO
DIVB	-0.11	0.91	0.49	0.39	-0.05	0.35		0.54	0.94	DIVB
DIVD	-0.04	0.22	0.8	0.93	0.58	-0.52	0.54		0.71	DIVD
DIVG	-0.08	0.78	0.64	0.58	0.1	0.1	0.94	0.71		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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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

DIVG	+ 0.94	DIVB
DIVD	+ 0.93	MCHI
DIVB	+ 0.91	MBOX
MCHI	+ 0.87	DIEM
DIVD	+ 0.8	DIEM
DIVG	+ 0.78	MBOX

High negative correlations

DISO	- 0.54	DIPS
DISO	- 0.54	MCHI
DIVD	- 0.52	DISO
DISO	- 0.39	DIEM
DIPS	- 0.34	MBOX
MBOX	- 0.13	DHSB

Defiance Hotel Constituents Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Hotel 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 Defiance Hotel'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
DHSB	68.88	36.21	67.07	2.36	0.00	(83.70)	0.91	(0.74)	1,001
MBOX	0.61	0.00	0.03	0.00	0.78	(0.61)	1.03	(1.39)	2.74
DIEM	0.68	0.02	0.08	(0.30)	0.77	(0.80)	1.43	(1.67)	4.39
MCHI	1.39	0.25	0.19	(1.40)	1.36	(1.73)	2.63	(2.72)	7.91
DIPS	2.32	0.22	0.08	0.77	2.75	(2.57)	5.35	(4.43)	23.78
DISO	0.90	(0.17)	0.00	(1.24)	0.00	0.00	1.47	(2.12)	6.61
DIVB	0.62	0.00	0.07	0.00	0.75	(0.67)	1.15	(1.20)	3.13
DIVD	0.57	0.17	0.32	33.06	0.38	(0.70)	1.39	(0.91)	3.39
DIVG	0.54	0.04	0.12	(1.30)	0.60	(0.61)	1.12	(1.13)	2.79

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