MicroSectors FANG Correlations
| FNGUDelisted Etf | USD 420.17 16.42 4.07% |
The current 90-days correlation between MicroSectors FANG Index and Direxion Daily Semiconductor is -0.18 (i.e., Good 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
Average diversification
The correlation between MicroSectors FANG Index and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors FANG Index and DJI in the same portfolio, assuming nothing else is changed.
MicroSectors |
Moving together with MicroSectors Etf
| 0.84 | SSO | ProShares Ultra SP500 | PairCorr |
| 0.85 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.85 | QLD | ProShares Ultra QQQ | PairCorr |
| 0.84 | UPRO | ProShares UltraPro SP500 | PairCorr |
| 0.82 | TECL | Direxion Daily Technology | PairCorr |
| 0.72 | LABU | Direxion Daily SP Downward Rally | PairCorr |
| 0.81 | ARKW | ARK Next Generation | PairCorr |
| 0.75 | WTMF | WisdomTree Managed | PairCorr |
| 0.76 | BST | BlackRock Science Tech | PairCorr |
| 0.81 | AXP | American Express | PairCorr |
| 0.87 | DIS | Walt Disney | PairCorr |
| 0.7 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.67 | MSFT | Microsoft Aggressive Push | PairCorr |
Moving against MicroSectors Etf
| 0.56 | GDXU | MicroSectors Gold Miners | PairCorr |
| 0.77 | TRV | The Travelers Companies | PairCorr |
| 0.59 | XOM | Exxon Mobil Corp Earnings Call This Week | PairCorr |
| 0.56 | JNJ | Johnson Johnson | PairCorr |
| 0.48 | KO | Coca Cola Sell-off Trend | PairCorr |
| 0.46 | T | ATT Inc Aggressive Push | PairCorr |
| 0.36 | MCD | McDonalds | PairCorr |
| 0.32 | INTC | Intel Sell-off Trend | PairCorr |
Related Correlations Analysis
| 0.83 | -0.82 | 0.94 | 0.77 | SOXL | ||
| 0.83 | -0.88 | 0.91 | 0.81 | BULZ | ||
| -0.82 | -0.88 | -0.9 | -0.81 | FNGD | ||
| 0.94 | 0.91 | -0.9 | 0.84 | TECL | ||
| 0.77 | 0.81 | -0.81 | 0.84 | LABU | ||
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SOXL | 5.00 | (0.31) | 0.00 | (0.12) | 0.00 | 8.71 | 32.20 | |||
| BULZ | 4.63 | (0.55) | 0.00 | 0.57 | 0.00 | 8.97 | 25.00 | |||
| FNGD | 4.36 | 0.39 | 0.12 | (0.15) | 4.48 | 11.12 | 23.52 | |||
| TECL | 3.86 | (0.36) | 0.00 | (0.15) | 0.00 | 5.92 | 20.89 | |||
| LABU | 3.56 | (0.24) | 0.00 | (0.12) | 0.00 | 5.72 | 18.98 |
| The entity MicroSectors FANG Index with a symbol FNGU was recently relisted or delisted. You can potentially use MicroSectors FANG Index with a symbol FNGA. Please make sure the ticker renaming or change in the classification of MicroSectors FANG Index is not a temporary action by the exchange. |
Still Interested in MicroSectors FANG Index?
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