TappAlpha SPY Correlations
The correlation of TappAlpha SPY 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.
TappAlpha |
Moving together with TappAlpha Etf
0.78 | JEPI | JPMorgan Equity Premium | PairCorr |
0.89 | XYLD | Global X SP | PairCorr |
0.73 | DIVO | Amplify CWP Enhanced | PairCorr |
0.96 | RYLD | Global X Russell | PairCorr |
0.88 | JEPQ | JPMorgan Nasdaq Equity | PairCorr |
0.88 | BUYW | Main Buywrite ETF | PairCorr |
0.72 | UPRO | ProShares UltraPro SP500 | PairCorr |
0.98 | QTJA | Innovator ETFs Trust | PairCorr |
0.89 | QTOC | Innovator ETFs Trust | PairCorr |
0.9 | XTOC | Innovator ETFs Trust | PairCorr |
0.83 | QTAP | Innovator Growth 100 Low Volatility | PairCorr |
0.89 | XTJA | Innovator ETFs Trust | PairCorr |
0.65 | XTAP | Innovator Equity Acc Low Volatility | PairCorr |
0.8 | BAC | Bank of America Sell-off Trend | PairCorr |
0.74 | BA | Boeing | PairCorr |
0.73 | HD | Home Depot | PairCorr |
0.85 | JPM | JPMorgan Chase | PairCorr |
0.73 | WMT | Walmart Aggressive Push | PairCorr |
Moving against TappAlpha Etf
0.55 | NUSI | NEOS ETF Trust Symbol Change | PairCorr |
0.52 | TRV | The Travelers Companies | PairCorr |
0.39 | MRK | Merck Company | PairCorr |
0.31 | MCD | McDonalds | PairCorr |
0.31 | PG | Procter Gamble | 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
| High negative correlations
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TappAlpha SPY Competition Risk-Adjusted Indicators
There is a big difference between TappAlpha Etf performing well and TappAlpha SPY 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 TappAlpha SPY'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 | 2.57 | 8.90 | |||
MSFT | 1.12 | (0.15) | 0.00 | (0.28) | 0.00 | 2.58 | 10.31 | |||
UBER | 1.88 | 0.41 | 0.19 | 0.74 | 2.06 | 4.72 | 12.75 | |||
F | 1.47 | 0.07 | 0.03 | 0.00 | 2.22 | 2.71 | 10.14 | |||
T | 1.04 | 0.26 | 0.16 | 0.40 | 1.61 | 1.90 | 11.66 | |||
A | 1.15 | (0.15) | 0.00 | (0.23) | 0.00 | 2.92 | 9.03 | |||
CRM | 1.38 | (0.27) | 0.00 | (0.31) | 0.00 | 2.72 | 8.88 | |||
JPM | 1.10 | 0.09 | 0.05 | 0.02 | 1.74 | 1.99 | 6.85 | |||
MRK | 1.17 | (0.11) | 0.00 | 1.52 | 0.00 | 2.07 | 11.58 | |||
XOM | 1.06 | 0.11 | 0.10 | 0.17 | 1.39 | 2.55 | 5.89 |