Strategy Shares Correlations

Etfs . USA . 
Etf . Strategy Shares
NZRO Etf  USD 23.06  0.00  0.00%   
The current 90-days correlation between Strategy Shares and iShares Factors Growth is -0.23 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Strategy Shares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Strategy Shares moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Strategy Shares Correlation With Market

Significant diversification

The correlation between Strategy Shares and DJI is 0.02 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategy Shares and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Correlation Analysis 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 metropolitan statistical area.

Moving together with Strategy Etf

  0.86VUG Vanguard Growth IndexPairCorr
  0.82IWF iShares Russell 1000PairCorr
  0.8IVW iShares SP 500PairCorr
  0.8SPYG SPDR Portfolio SPPairCorr
  0.8IUSG iShares Core SPPairCorr
  0.82VONG Vanguard Russell 1000PairCorr
  0.82MGK Vanguard Mega CapPairCorr
  0.85VRGWX Vanguard Russell 1000PairCorr
  0.82QQQM Invesco NASDAQ 100PairCorr
  0.8IWY iShares Russell TopPairCorr
  0.67NVDL GraniteShares 15x Long Buyout TrendPairCorr
  0.67NVDX T Rex 2X Buyout TrendPairCorr
  0.68NVDU Direxion Daily NVDAPairCorr
  0.87FNGU MicroSectors FANG Index Buyout TrendPairCorr
  0.89WEBL Direxion Daily DowPairCorr
  0.85BITX Volatility Shares Trust Buyout TrendPairCorr
  0.71TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.88WMT WalmartPairCorr
  0.86JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.81DIS Walt Disney Sell-off TrendPairCorr
  0.86BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.89T ATT Inc Sell-off TrendPairCorr

Moving against Strategy Etf

  0.9KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.85PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.52GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.51MMM 3M Company Fiscal Year End 28th of January 2025 PairCorr
  0.46VZ Verizon Communications Fiscal Year End 28th of January 2025 PairCorr
  0.41DD Dupont De Nemours Sell-off TrendPairCorr
  0.31MCD McDonalds Fiscal Year End 3rd of February 2025 PairCorr

Related Correlations Analysis

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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
+ 0.87
T
JPM
+ 0.86
T
CRM
+ 0.66
META
JPM
+ 0.58
F
MRK
+ 0.56
A
  
High negative correlations   
MRK
- 0.87
JPM
MRK
- 0.84
CRM
MRK
- 0.73
T
T
- 0.61
UBER
XOM
- 0.58
MSFT
JPM
- 0.46
A

Strategy Shares Competition Risk-Adjusted Indicators

There is a big difference between Strategy Etf performing well and Strategy Shares 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 Strategy Shares' 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.17  0.29  0.16  0.72  1.18 
(1.37)
 3.22 
(1.87)
 8.02 
MSFT  0.87  0.05  0.01  0.21  1.40 
(0.84)
 2.09 
(1.57)
 8.19 
UBER  1.85 (0.29) 0.00 (0.12) 0.00 
 0.00 
 2.69 
(5.35)
 20.41 
F  1.40 (0.13)(0.03) 0.03  2.15 
(1.41)
 2.53 
(2.79)
 11.21 
T  0.98  0.13  0.02  2.38  1.05 
(1.07)
 2.36 
(1.99)
 6.74 
A  1.22  0.03 (0.04) 0.25  1.48 
(1.28)
 2.71 
(2.41)
 9.02 
CRM  1.47  0.41  0.30  0.41  1.02 
(1.72)
 3.59 
(1.93)
 13.87 
JPM  1.00  0.07  0.13  0.15  0.90 
(1.18)
 1.73 
(1.42)
 15.87 
MRK  0.93 (0.24) 0.00 (0.80) 0.00 
 0.00 
 2.00 
(2.17)
 5.18 
XOM  0.92 (0.01)(0.07) 0.09  1.18 
(0.98)
 1.83 
(1.96)
 6.06 

Strategy Shares 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 Strategy Shares etf to make a market-neutral strategy. Peer analysis of Strategy Shares could also be used in its relative valuation, which is a method of valuing Strategy Shares by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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