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.
  
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Moving together with TappAlpha Etf

  0.78JEPI JPMorgan Equity PremiumPairCorr
  0.89XYLD Global X SPPairCorr
  0.73DIVO Amplify CWP EnhancedPairCorr
  0.96RYLD Global X RussellPairCorr
  0.88JEPQ JPMorgan Nasdaq EquityPairCorr
  0.88BUYW Main Buywrite ETFPairCorr
  0.72UPRO ProShares UltraPro SP500PairCorr
  0.98QTJA Innovator ETFs TrustPairCorr
  0.89QTOC Innovator ETFs TrustPairCorr
  0.9XTOC Innovator ETFs TrustPairCorr
  0.83QTAP Innovator Growth 100 Low VolatilityPairCorr
  0.89XTJA Innovator ETFs TrustPairCorr
  0.65XTAP Innovator Equity Acc Low VolatilityPairCorr
  0.8BAC Bank of America Sell-off TrendPairCorr
  0.74BA BoeingPairCorr
  0.73HD Home DepotPairCorr
  0.85JPM JPMorgan ChasePairCorr
  0.73WMT Walmart Aggressive PushPairCorr

Moving against TappAlpha Etf

  0.55NUSI NEOS ETF Trust Symbol ChangePairCorr
  0.52TRV The Travelers CompaniesPairCorr
  0.39MRK Merck CompanyPairCorr
  0.31MCD McDonaldsPairCorr
  0.31PG Procter GamblePairCorr

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   
JPMMETA
CRMMSFT
TUBER
CRMA
AMSFT
JPMA
  
High negative correlations   
MRKUBER
TMSFT
MRKMETA
CRMT
MRKT
MRKJPM

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum 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