TrueShares Technology Correlations

LRNZ Etf

USD 38.04 0.15 0.40%

The current 90-days correlation between TrueShares Technology and Franklin Disruptive Commerce is 0.89 (i.e., Very poor diversification). The correlation of TrueShares Technology 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.

TrueShares Technology Correlation With Market

Very weak diversification

The correlation between TrueShares Technology AI and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TrueShares Technology AI and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in TrueShares Technology AI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with TrueShares Etf

0.82	VGT	Vanguard Information	Pair Corr
0.84	XLK	Technology Select Sector	Pair Corr
0.85	IYW	iShares Technology ETF	Pair Corr
0.73	SMH	VanEck Semiconductor ETF	Pair Corr
0.73	SOXX	iShares Semiconductor ETF	Pair Corr
0.77	CIBR	First Trust NASDAQ	Pair Corr
0.82	FTEC	Fidelity MSCI Information	Pair Corr
0.94	IGV	iShares Expanded Tech Low Volatility	Pair Corr
0.98	FDN	First Trust Dow	Pair Corr
0.93	IGM	iShares Expanded Tech	Pair Corr
0.94	VTI	Vanguard Total Stock	Pair Corr
0.69	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.87	VBK	Vanguard Small Cap	Pair Corr
0.61	NFLX	Netflix	Pair Corr
0.86	AXP	American Express	Pair Corr
0.81	JPM	JPMorgan Chase	Pair Corr
0.86	BAC	Bank of America Aggressive Push	Pair Corr
0.88	WMT	Walmart	Pair Corr
0.78	BA	Boeing	Pair Corr
0.75	HPQ	HP Inc	Pair Corr

Moving against TrueShares Etf

0.95	FNGD	MicroSectors FANG Index	Pair Corr
0.38	JPST	JPMorgan Ultra Short	Pair Corr
0.58	TRV	The Travelers Companies	Pair Corr
0.52	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.42	MRK	Merck Company	Pair Corr
0.36	JNJ	Johnson Johnson	Pair Corr
0.31	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	BUYZ	THNQ	LOUP	IQM	DSTL
BUYZ		0.95	0.92	0.8	0.84	BUYZ
THNQ	0.95		0.9	0.72	0.88	THNQ
LOUP	0.92	0.9		0.93	0.83	LOUP
IQM	0.8	0.72	0.93		0.68	IQM
DSTL	0.84	0.88	0.83	0.68		DSTL
	BUYZ	THNQ	LOUP	IQM	DSTL

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TrueShares Technology Constituents Risk-Adjusted Indicators

There is a big difference between TrueShares Etf performing well and TrueShares Technology 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 TrueShares Technology'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
BUYZ	1.17	(0.10)	(0.08)	2.30	(2.98)	6.46
THNQ	1.31	(0.06)	(0.04)	2.36	(2.74)	7.51
LOUP	2.01	(0.17)	(0.10)	3.06	(5.01)	11.29
IQM	1.65	(0.18)	(0.13)	2.76	(4.11)	11.12
DSTL	0.69	(0.03)	(0.04)	1.28	(1.43)	3.18

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