Amplify ETF Correlations

IPAY Etf

USD 54.49 0.34 0.62%

The current 90-days correlation between Amplify ETF Trust and Global X FinTech is 0.96 (i.e., Almost no diversification). The correlation of Amplify ETF 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 ETF Correlation With Market

Significant diversification

The correlation between Amplify ETF Trust and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify ETF Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Amplify ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

For more information on how to buy Amplify Etf please use our How to Invest in Amplify ETF guide.

Moving together with Amplify Etf

0.62	XT	iShares Exponential	Pair Corr
0.72	QCLN	First Trust NASDAQ	Pair Corr
0.92	BOTZ	Global X Robotics	Pair Corr
0.7	DRIV	Global X Autonomous	Pair Corr
0.64	ACES	ALPS Clean Energy	Pair Corr
0.76	MSOS	AdvisorShares Pure	Pair Corr
0.8	MJ	Amplify ETF Trust	Pair Corr
0.64	DIS	Walt Disney	Pair Corr
0.76	HD	Home Depot	Pair Corr
0.77	JPM	JPMorgan Chase	Pair Corr
0.61	HPQ	HP Inc	Pair Corr
0.67	WMT	Walmart	Pair Corr

Moving against Amplify Etf

0.57	BABX	GraniteShares 175x Long	Pair Corr
0.57	XPP	ProShares Ultra FTSE	Pair Corr
0.55	TRV	The Travelers Companies	Pair Corr
0.4	ICLN	iShares Global Clean	Pair Corr
0.38	GDXU	MicroSectors Gold Miners	Pair Corr
0.46	KO	Coca Cola	Pair Corr
0.42	MCD	McDonalds	Pair Corr
0.38	PG	Procter Gamble	Pair Corr
0.34	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	FINX	IBUY	SKYY	HACK	CLOU
FINX		0.86	0.98	0.78	0.97	FINX
IBUY	0.86		0.91	0.92	0.9	IBUY
SKYY	0.98	0.91		0.85	0.99	SKYY
HACK	0.78	0.92	0.85		0.85	HACK
CLOU	0.97	0.9	0.99	0.85		CLOU
	FINX	IBUY	SKYY	HACK	CLOU

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Amplify ETF Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify ETF 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 ETF'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
FINX	1.28	(0.17)	(3.95)	2.16	(2.57)	7.96
IBUY	1.20	(0.12)	1.02	2.13	(2.94)	7.71
SKYY	1.39	(0.21)	1.54	2.00	(2.92)	8.80
HACK	1.13	(0.03)	0.14	2.13	(2.63)	6.66
CLOU	1.28	(0.17)	1.38	1.92	(2.99)	8.59

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