MicroSectors FANG Correlations

FNGS Etf

USD 53.36 1.45 2.79%

The current 90-days correlation between MicroSectors FANG ETN and Strategy Shares is 0.05 (i.e., Significant diversification). The correlation of MicroSectors FANG 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.

MicroSectors FANG Correlation With Market

Good diversification

The correlation between MicroSectors FANG ETN and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors FANG ETN and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in MicroSectors FANG ETN. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with MicroSectors Etf

0.96	VGT	Vanguard Information	Pair Corr
0.96	XLK	Technology Select Sector	Pair Corr
0.97	IYW	iShares Technology ETF	Pair Corr
0.87	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	SOXX	iShares Semiconductor ETF	Pair Corr
0.96	FTEC	Fidelity MSCI Information	Pair Corr
0.98	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.84	FDN	First Trust Dow	Pair Corr
0.99	IGM	iShares Expanded Tech	Pair Corr
0.96	VTI	Vanguard Total Stock	Pair Corr
0.84	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.96	VBK	Vanguard Small Cap	Pair Corr
0.85	AXP	American Express	Pair Corr
0.71	JPM	JPMorgan Chase	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.65	WMT	Walmart	Pair Corr
0.73	BA	Boeing	Pair Corr
0.7	HPQ	HP Inc	Pair Corr

Moving against MicroSectors Etf

0.99	FNGD	MicroSectors FANG Index Downward Rally	Pair Corr
0.7	JPST	JPMorgan Ultra Short Sell-off Trend	Pair Corr
0.45	GDXU	MicroSectors Gold Miners	Pair Corr
0.37	EEM	iShares MSCI Emerging	Pair Corr
0.65	TRV	The Travelers Companies	Pair Corr
0.65	VZ	Verizon Communications	Pair Corr
0.52	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.46	MCD	McDonalds	Pair Corr
0.42	T	ATT Inc Sell-off Trend	Pair Corr
0.41	PG	Procter Gamble	Pair Corr
0.32	XOM	Exxon Mobil Corp Earnings Call Next Week	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

MicroSectors FANG Constituents Risk-Adjusted Indicators

There is a big difference between MicroSectors Etf performing well and MicroSectors FANG 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 MicroSectors FANG'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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