AXS 2X Correlations

TARK Etf

USD 33.65 1.98 6.25%

The current 90-days correlation between AXS 2X Innovation and Tuttle Capital Short is -1.0 (i.e., Pay attention - limited upside). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AXS 2X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AXS 2X Innovation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AXS 2X Correlation With Market

Good diversification

The correlation between AXS 2X Innovation and DJI is -0.09 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXS 2X Innovation 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 AXS 2X Innovation. 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 AXS Etf

0.97	SSO	ProShares Ultra SP500	Pair Corr
0.79	SPXL	Direxion Daily SP500	Pair Corr
0.97	QLD	ProShares Ultra QQQ	Pair Corr
0.79	UPRO	ProShares UltraPro SP500	Pair Corr
0.68	TECL	Direxion Daily Technology	Pair Corr
0.85	LABU	Direxion Daily SP	Pair Corr
0.66	GUSH	Direxion Daily SP	Pair Corr
0.71	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.66	UYG	ProShares Ultra Fina	Pair Corr
0.77	OIH	VanEck Oil Services	Pair Corr
0.83	ARKW	ARK Next Generation	Pair Corr
0.68	WTMF	WisdomTree Managed	Pair Corr
0.68	EWC	iShares MSCI Canada	Pair Corr
0.85	BST	BlackRock Science Tech	Pair Corr
0.86	AXP	American Express	Pair Corr
0.81	BAC	Bank of America	Pair Corr

Moving against AXS Etf

0.42	PG	Procter Gamble	Pair Corr
0.39	GDXU	MicroSectors Gold Miners	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr
0.46	JNJ	Johnson Johnson	Pair Corr
0.45	KO	Coca Cola	Pair Corr
0.42	MCD	McDonalds	Pair Corr
0.36	T	ATT Inc Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.04	0.59	-0.54	0.32	0.42	0.26	0.9	-0.75	-0.01	META
MSFT	-0.04		-0.62	0.09	-0.79	0.69	0.89	0.1	0.44	-0.52	MSFT
UBER	0.59	-0.62		-0.35	0.8	-0.25	-0.53	0.53	-0.85	0.54	UBER
F	-0.54	0.09	-0.35		-0.05	-0.04	-0.08	-0.39	0.56	0.31	F
T	0.32	-0.79	0.8	-0.05		-0.57	-0.71	0.17	-0.65	0.58	T
A	0.42	0.69	-0.25	-0.04	-0.57		0.79	0.62	0.1	-0.3	A
CRM	0.26	0.89	-0.53	-0.08	-0.71	0.79		0.33	0.24	-0.58	CRM
JPM	0.9	0.1	0.53	-0.39	0.17	0.62	0.33		-0.63	0.07	JPM
MRK	-0.75	0.44	-0.85	0.56	-0.65	0.1	0.24	-0.63		-0.31	MRK
XOM	-0.01	-0.52	0.54	0.31	0.58	-0.3	-0.58	0.07	-0.31		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.9	META
CRM	+ 0.89	MSFT
T	+ 0.8	UBER
CRM	+ 0.79	A
A	+ 0.69	MSFT
JPM	+ 0.62	A

High negative correlations

MRK	- 0.85	UBER
T	- 0.79	MSFT
MRK	- 0.75	META
CRM	- 0.71	T
MRK	- 0.65	T
MRK	- 0.63	JPM

AXS 2X Competition Risk-Adjusted Indicators

There is a big difference between AXS Etf performing well and AXS 2X 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 AXS 2X'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	0.02	0.00	(0.05)	0.00	0.00	2.57	(3.73)	8.90
MSFT	1.12	(0.15)	0.00	(0.28)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.88	0.41	0.19	0.74	2.06	(2.04)	4.72	(3.13)	12.75
F	1.47	0.07	0.03	0.00	2.22	(1.39)	2.71	(2.89)	10.14
T	1.04	0.26	0.16	0.40	1.61	(1.11)	1.90	(1.75)	11.66
A	1.15	(0.15)	0.00	(0.23)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.38	(0.27)	0.00	(0.31)	0.00	0.00	2.72	(3.81)	8.88
JPM	1.10	0.09	0.05	0.02	1.74	(1.04)	1.99	(3.35)	6.85
MRK	1.17	(0.11)	0.00	1.52	0.00	0.00	2.07	(1.80)	11.58
XOM	1.06	0.11	0.10	0.17	1.39	(1.08)	2.55	(2.36)	5.89

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC