MAX S Correlations

SPYU Etf

37.30 1.07 2.95%

The current 90-days correlation between MAX S P and FT Vest Equity is 0.96 (i.e., Almost no diversification). The correlation of MAX S 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.

MAX S Correlation With Market

Poor diversification

The correlation between MAX S P and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MAX S P 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 MAX S P. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with MAX Etf

0.99	SSO	ProShares Ultra SP500	Pair Corr
0.99	SPXL	Direxion Daily SP500	Pair Corr
0.97	QLD	ProShares Ultra QQQ	Pair Corr
0.99	UPRO	ProShares UltraPro SP500	Pair Corr
0.93	TECL	Direxion Daily Technology	Pair Corr
0.79	LABU	Direxion Daily SP	Pair Corr
0.63	GUSH	Direxion Daily SP	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.98	VUG	Vanguard Growth Index	Pair Corr
0.9	VO	Vanguard Mid Cap	Pair Corr
0.96	VB	Vanguard Small Cap	Pair Corr

Moving against MAX Etf

0.39	BND	Vanguard Total Bond	Pair Corr
0.81	DWSH	AdvisorShares Dorsey	Pair Corr
0.67	SCHO	Schwab Short Term	Pair Corr
0.64	CGUI	Capital Group Fixed	Pair Corr
0.59	EFNL	iShares MSCI Finland	Pair Corr
0.57	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.52	AIVI	WisdomTree International	Pair Corr
0.46	FIVA	Fidelity International	Pair Corr
0.45	SPEU	SPDR Portfolio Europe	Pair Corr
0.44	MOTI	VanEck Morningstar Low Volatility	Pair Corr
0.41	HCRB	Hartford Core Bond	Pair Corr
0.36	APCB	Trust For Professional	Pair Corr
0.96	TWM	ProShares UltraShort	Pair Corr
0.63	MNA	IQ Merger Arbitrage	Pair Corr
0.55	FLDB	Fidelity Low Duration	Pair Corr
0.47	AMPS	Altus Power	Pair Corr
0.46	GSEU	Goldman Sachs ActiveBeta	Pair Corr
0.43	GHTA	Collaborative Investment	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.23	0.69	-0.47	0.5	0.31	0.07	0.89	-0.78	0.2	META
MSFT	-0.23		-0.65	0.44	-0.75	0.62	0.88	-0.08	0.54	-0.16	MSFT
UBER	0.69	-0.65		-0.51	0.8	-0.22	-0.56	0.62	-0.86	0.42	UBER
F	-0.47	0.44	-0.51		-0.27	0.21	0.3	-0.37	0.66	0.25	F
T	0.5	-0.75	0.8	-0.27		-0.51	-0.65	0.32	-0.7	0.39	T
A	0.31	0.62	-0.22	0.21	-0.51		0.72	0.54	0.15	0.04	A
CRM	0.07	0.88	-0.56	0.3	-0.65	0.72		0.16	0.36	-0.19	CRM
JPM	0.89	-0.08	0.62	-0.37	0.32	0.54	0.16		-0.67	0.23	JPM
MRK	-0.78	0.54	-0.86	0.66	-0.7	0.15	0.36	-0.67		-0.24	MRK
XOM	0.2	-0.16	0.42	0.25	0.39	0.04	-0.19	0.23	-0.24		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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	+ 0.89	META
CRM	+ 0.88	MSFT
T	+ 0.8	UBER
CRM	+ 0.72	A
UBER	+ 0.69	META
MRK	+ 0.66	F

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.78	META
T	- 0.75	MSFT
MRK	- 0.7	T
MRK	- 0.67	JPM
CRM	- 0.65	T

MAX S Competition Risk-Adjusted Indicators

There is a big difference between MAX Etf performing well and MAX S 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 MAX S'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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.59	0.08	0.00	(0.03)	0.00	0.00	2.57	(3.59)	8.90
MSFT	1.10	(0.12)	0.00	(0.30)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.20	0.10	0.28	2.38	(2.01)	4.72	(3.30)	12.75
F	1.42	0.05	0.00	(0.06)	0.00	0.00	2.71	(2.89)	10.14
T	1.07	0.24	0.16	0.33	1.64	(1.12)	1.90	(2.12)	11.66
A	1.16	(0.12)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.45	(0.26)	0.00	(0.35)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.04	0.00	(0.08)	0.00	0.00	1.99	(3.35)	6.85
MRK	1.21	(0.12)	0.00	1.56	0.00	0.00	2.08	(2.24)	11.57
XOM	1.04	0.04	0.07	(0.02)	1.37	(1.07)	2.55	(2.36)	5.89

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