Amplify ETF Correlations

Etfs . USA . 
Etf . Amplify ETF Trust
SILJ Etf  USD 12.39  0.20  1.59%   
The current 90-days correlation between Amplify ETF Trust and Global X Silver is 0.95 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Amplify ETF moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Amplify ETF Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Amplify ETF Correlation With Market

Good diversification

The correlation between Amplify ETF Trust and DJI is -0.11 (i.e., Good 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 World Market Map 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 bureau of economic analysis.
For more information on how to buy Amplify Etf please use our How to buy in Amplify Etf guide.

Moving together with Amplify Etf

  0.94GDX VanEck Gold MinersPairCorr
  0.97SIL Global X SilverPairCorr
  0.93SGDM Sprott Gold MinersPairCorr
  0.96SGDJ Sprott Junior GoldPairCorr
  0.96GOAU US Global GOPairCorr
  0.97GOEX Global X GoldPairCorr
  0.97GDXU MicroSectors Gold MinersPairCorr
  0.77JMST JPMorgan Ultra ShortPairCorr
  0.78BBEM JP Morgan ExchangePairCorr
  0.67GHMS Goose Hollow MultiPairCorr
  0.73ACWV iShares MSCI GlobalPairCorr

Moving against Amplify Etf

  0.32OIH VanEck Oil ServicesPairCorr
  0.32BST BlackRock Science TechPairCorr
  0.31WTMF WisdomTree ManagedPairCorr
  0.47HPQ HP IncPairCorr
  0.45AXP American ExpressPairCorr
  0.45PFE Pfizer IncPairCorr
  0.35HD Home DepotPairCorr
  0.34CAT CaterpillarPairCorr

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   
SLVP
+ 0.99
SIL
SLVP
+ 0.99
GDXJ
PSLV
+ 0.98
GDXJ
GDXJ
+ 0.97
SIL
PSLV
+ 0.97
SLVP
PSLV
+ 0.96
SIL
  
High negative correlations   
SILV
- 0.41
PSLV
SILV
- 0.38
GDXJ
SILV
- 0.36
SLVP
SILV
- 0.29
SIL

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.

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