Defiance ETFs Correlations

EVXX Etf

27.68 1.13 4.26%

The current 90-days correlation between Defiance ETFs and Ero Copper Corp is 0.23 (i.e., Modest diversification). The correlation of Defiance ETFs 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 ETFs Correlation With Market

Significant diversification

The correlation between Defiance ETFs and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance ETFs and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving together with Defiance Etf

0.61	BND	Vanguard Total Bond	Pair Corr
0.67	VEA	Vanguard FTSE Developed	Pair Corr

Moving against Defiance Etf

0.46	VDNI	V Square Quantitative	Pair Corr
0.44	EMGD	Simplify Asset Management	Pair Corr
0.44	WGRO	WGRO	Pair Corr
0.43	CWC	Capitol Series Trust	Pair Corr
0.42	OAIE	OAIE	Pair Corr
0.41	VO	Vanguard Mid Cap	Pair Corr
0.39	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.38	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.38	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.36	VUG	Vanguard Growth Index Sell-off Trend	Pair Corr
0.35	VTV	Vanguard Value Index	Pair Corr
0.48	STCE	Schwab Strategic Trust	Pair Corr
0.46	SCHD	Schwab Dividend Equity	Pair Corr
0.45	BOTZ	Global X Robotics	Pair Corr
0.44	VB	Vanguard Small Cap	Pair Corr
0.42	SPBC	Simplify Equity PLUS	Pair Corr
0.38	SPLG	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.38	VOO	Vanguard SP 500 Sell-off Trend	Pair Corr
0.37	BAUG	Innovator Equity Buffer	Pair Corr
0.36	PNQI	Invesco NASDAQ Internet	Pair Corr
0.35	QQQM	Invesco NASDAQ 100	Pair Corr
0.35	QQQ	Invesco QQQ Trust	Pair Corr
0.35	VOOG	Vanguard SP 500	Pair Corr
0.35	VONG	Vanguard Russell 1000	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.42	-0.28	-0.21	0.51	0.28	0.65	0.43	-0.4	0.02	META
MSFT	0.42		-0.49	-0.08	0.36	0.16	0.29	0.17	0.1	-0.72	MSFT
UBER	-0.28	-0.49		0.09	-0.7	0.11	-0.59	-0.46	0.4	0.47	UBER
F	-0.21	-0.08	0.09		0.18	-0.47	0.26	0.51	-0.32	0.33	F
T	0.51	0.36	-0.7	0.18		-0.29	0.88	0.85	-0.72	-0.17	T
A	0.28	0.16	0.11	-0.47	-0.29		-0.26	-0.46	0.57	-0.08	A
CRM	0.65	0.29	-0.59	0.26	0.88	-0.26		0.92	-0.83	0.03	CRM
JPM	0.43	0.17	-0.46	0.51	0.85	-0.46	0.92		-0.87	0.11	JPM
MRK	-0.4	0.1	0.4	-0.32	-0.72	0.57	-0.83	-0.87		-0.25	MRK
XOM	0.02	-0.72	0.47	0.33	-0.17	-0.08	0.03	0.11	-0.25		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	+ 0.92	CRM
CRM	+ 0.88	T
JPM	+ 0.85	T
CRM	+ 0.65	META
MRK	+ 0.57	A
T	+ 0.51	META

High negative correlations

MRK	- 0.87	JPM
MRK	- 0.83	CRM
MRK	- 0.72	T
XOM	- 0.72	MSFT
T	- 0.7	UBER
CRM	- 0.59	UBER

Defiance ETFs Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance ETFs 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 ETFs' 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	1.15	0.21	0.11	0.55	1.25	(1.33)	3.22	(1.87)	8.02
MSFT	0.84	0.02	(0.01)	0.12	1.45	(0.79)	1.83	(1.57)	8.14
UBER	1.83	(0.28)	0.00	(0.13)	0.00	0.00	2.69	(5.35)	20.41
F	1.36	(0.13)	(0.04)	0.00	2.10	(1.41)	2.53	(2.79)	11.21
T	0.97	0.15	0.06	2.52	1.02	(1.08)	2.36	(1.99)	6.74
A	1.22	0.00	(0.04)	0.09	1.46	(1.30)	2.71	(2.41)	9.02
CRM	1.47	0.40	0.29	0.38	1.04	(1.72)	3.59	(1.93)	13.87
JPM	1.01	0.08	0.13	0.13	0.94	(1.19)	1.73	(1.42)	15.87
MRK	0.96	(0.20)	0.00	(0.82)	0.00	0.00	2.00	(2.17)	5.18
XOM	0.89	(0.02)	(0.07)	0.02	1.18	(0.97)	1.83	(1.96)	6.06

Defiance ETFs Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Defiance ETFs etf to make a market-neutral strategy. Peer analysis of Defiance ETFs could also be used in its relative valuation, which is a method of valuing Defiance ETFs by comparing valuation metrics with similar companies.

Ero Copper Corp First Trust Exchange Traded Capitol Series Trust Aquagold International Morningstar Unconstrained Allocation Thrivent High Yield High Yield Municipal Fund Sparta Capital Via Renewables T Rowe Price American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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