TappAlpha SPY Correlations

TSPY Etf

24.15 0.40 1.63%

The current 90-days correlation between TappAlpha SPY Growth and Strategy Shares is -0.12 (i.e., Good diversification). 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 SPY Correlation With Market

Very good diversification

The correlation between TappAlpha SPY Growth and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding TappAlpha SPY Growth 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 TappAlpha SPY Growth. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with TappAlpha Etf

0.7	JEPI	JPMorgan Equity Premium	Pair Corr
0.68	DIVO	Amplify CWP Enhanced	Pair Corr
0.61	RYLD	Global X Russell	Pair Corr
0.61	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.68	IDME	International Drawdown	Pair Corr
0.67	RXI	iShares Global Consumer	Pair Corr
0.73	AIQ	Global X Artificial	Pair Corr

Moving against TappAlpha Etf

0.33	PFE	Pfizer Inc	Pair Corr
0.33	MRK	Merck Company Aggressive Push	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.02	-0.09	-0.11	0.02	0.09	-0.09	-0.11	0.0	DHSB
MBOX	-0.02		0.49	0.36	-0.03	0.51	0.9	0.75	0.95	MBOX
DIEM	-0.09	0.49		0.74	-0.37	0.24	0.5	0.57	0.44	DIEM
MCHI	-0.11	0.36	0.74		-0.1	0.1	0.57	0.79	0.37	MCHI
DIPS	0.02	-0.03	-0.37	-0.1		0.22	0.01	0.02	0.07	DIPS
DISO	0.09	0.51	0.24	0.1	0.22		0.38	0.22	0.62	DISO
DIVB	-0.09	0.9	0.5	0.57	0.01	0.38		0.91	0.88	DIVB
DIVD	-0.11	0.75	0.57	0.79	0.02	0.22	0.91		0.73	DIVD
DIVG	0.0	0.95	0.44	0.37	0.07	0.62	0.88	0.73		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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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

DIVG	+ 0.95	MBOX
DIVD	+ 0.91	DIVB
DIVB	+ 0.9	MBOX
DIVG	+ 0.88	DIVB
DIVD	+ 0.79	MCHI
DIVD	+ 0.75	MBOX

High negative correlations

DIPS	- 0.37	DIEM
DIVD	- 0.11	DHSB
MCHI	- 0.11	DHSB
DIPS	- 0.1	MCHI
DIVB	- 0.09	DHSB
DIEM	- 0.09	DHSB

TappAlpha SPY Constituents 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
DHSB	0.32	(0.11)	0.00	(1.42)	0.00	0.00	0.49	(0.64)	1.09
MBOX	0.59	(0.05)	0.00	6.57	0.00	0.00	1.03	(1.40)	4.12
DIEM	0.60	(0.02)	0.09	0.11	0.86	(0.60)	1.34	(1.81)	4.44
MCHI	1.36	0.26	0.20	3.07	1.45	(1.50)	2.57	(2.42)	12.27
DIPS	2.04	0.21	0.10	0.73	2.61	(2.06)	4.11	(3.60)	23.78
DISO	0.71	(0.01)	0.09	0.08	0.92	(0.70)	1.44	(1.37)	3.42
DIVB	0.54	0.00	0.00	(0.09)	0.00	0.00	1.00	(1.03)	2.86
DIVD	0.51	0.07	0.18	0.08	0.60	(0.56)	0.88	(0.87)	2.77
DIVG	0.49	(0.04)	0.00	(5.33)	0.00	0.00	0.97	(1.13)	2.58

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