Strategy Shares Correlations

Etfs . USA . 
Etf . Strategy Shares NewfoundReSolve
ROMO Etf  USD 30.87  0.04  0.13%   
The current 90-days correlation between Strategy Shares Newf and Cambria Trinity ETF is 0.78 (i.e., Poor 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 NewfoundReSolve moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Strategy Shares Correlation With Market

Very poor diversification

The correlation between Strategy Shares NewfoundReSolv and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategy Shares NewfoundReSolv and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Strategy Shares NewfoundReSolve. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.
To learn how to invest in Strategy Etf, please use our How to Invest in Strategy Shares guide.

Moving together with Strategy Etf

  0.89EAOA iShares ESG AwarePairCorr
  0.76WGMI Valkyrie Bitcoin MinersPairCorr
  0.83HPQ HP Inc Sell-off TrendPairCorr
  0.8DIS Walt DisneyPairCorr
  0.92AXP American ExpressPairCorr
  0.61CAT CaterpillarPairCorr
  0.77JPM JPMorgan ChasePairCorr

Moving against Strategy Etf

  0.9TAIL Cambria Tail RiskPairCorr
  0.56PMBS PIMCO Mortgage BackedPairCorr
  0.46SPIB SPDR Barclays Interm Sell-off TrendPairCorr
  0.45FXY Invesco CurrencySharesPairCorr
  0.44JMST JPMorgan Ultra ShortPairCorr
  0.42AMPD Tidal Trust IIPairCorr
  0.33GDXU MicroSectors Gold MinersPairCorr
  0.33GHMS Goose Hollow MultiPairCorr
  0.32LIAE Stone Ridge 2050PairCorr
  0.44JNJ Johnson JohnsonPairCorr
  0.39XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.35MCD McDonaldsPairCorr
  0.35T ATT Inc Aggressive PushPairCorr

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   
GDMA
+ 0.93
TRTY
GMOM
+ 0.91
TRTY
GDMA
+ 0.76
GMOM
GMOM
+ 0.11
THY
GDMA
+ 0.11
THY
THY
+ 0.02
TRTY
  
High negative correlations   
GDMA
- 0.0
VMOT
VMOT
- 0.0
GMOM
VMOT
- 0.0
THY
VMOT
- 0.0
TRTY

Strategy Shares Constituents 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.

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