Amplify Lithium Correlations

BATT Etf

USD 15.01 0.39 2.67%

The current 90-days correlation between Amplify Lithium Battery and KraneShares Electric Vehicles is -0.21 (i.e., Very good diversification). The correlation of Amplify Lithium 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.

Amplify Lithium Correlation With Market

Poor diversification

The correlation between Amplify Lithium Battery and DJI is 0.65 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Lithium Battery and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Amplify Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Amplify Lithium Battery. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with Amplify Etf

0.8	XLB	Materials Select Sector Aggressive Push	Pair Corr
0.8	VAW	Vanguard Materials Index	Pair Corr
0.75	XME	SPDR SP Metals	Pair Corr
0.76	MOO	VanEck Agribusiness ETF	Pair Corr
0.83	FXZ	First Trust Materials	Pair Corr
0.82	IYM	iShares Basic Materials	Pair Corr
0.73	AMPD	Tidal ETF Services	Pair Corr
0.75	ITWO	Proshares Russell 2000	Pair Corr
0.88	AA	Alcoa Corp	Pair Corr
0.63	AXP	American Express	Pair Corr
0.64	BA	Boeing	Pair Corr
0.8	BAC	Bank of America Earnings Call Tomorrow	Pair Corr

Moving against Amplify Etf

0.59	EV	NEOS Investment Mana	Pair Corr
0.43	MPAY	Exchange Traded Concepts	Pair Corr
0.41	ELON	Battleshares TSLA	Pair Corr
0.65	T	ATT Inc	Pair Corr
0.49	HPQ	HP Inc	Pair Corr
0.33	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	KARS	PSMD	CANC	FSZ	MINV	ONLN	OVLH	ELFY	MAVF	CVMC
KARS		0.32	-0.06	0.39	0.63	0.7	0.57	0.26	0.23	0.44	KARS
PSMD	0.32		0.78	0.83	0.11	0.55	0.71	-0.22	0.93	0.89	PSMD
CANC	-0.06	0.78		0.55	-0.33	0.07	0.39	-0.52	0.72	0.54	CANC
FSZ	0.39	0.83	0.55		0.27	0.48	0.46	-0.05	0.83	0.85	FSZ
MINV	0.63	0.11	-0.33	0.27		0.64	0.33	0.73	0.21	0.31	MINV
ONLN	0.7	0.55	0.07	0.48	0.64		0.75	0.4	0.56	0.74	ONLN
OVLH	0.57	0.71	0.39	0.46	0.33	0.75		0.1	0.63	0.7	OVLH
ELFY	0.26	-0.22	-0.52	-0.05	0.73	0.4	0.1		0.0	0.04	ELFY
MAVF	0.23	0.93	0.72	0.83	0.21	0.56	0.63	0.0		0.9	MAVF
CVMC	0.44	0.89	0.54	0.85	0.31	0.74	0.7	0.04	0.9		CVMC
	KARS	PSMD	CANC	FSZ	MINV	ONLN	OVLH	ELFY	MAVF	CVMC

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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

MAVF	+ 0.93	PSMD
CVMC	+ 0.9	MAVF
CVMC	+ 0.89	PSMD
CVMC	+ 0.85	FSZ
FSZ	+ 0.83	PSMD
MAVF	+ 0.83	FSZ

High negative correlations

ELFY	- 0.52	CANC
MINV	- 0.33	CANC
ELFY	- 0.22	PSMD
CANC	- 0.06	KARS
ELFY	- 0.05	FSZ
MAVF	- 0.0	ELFY

Amplify Lithium Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify Lithium 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 Amplify Lithium'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
KARS	1.21	0.03	(0.03)	1.07	1.59	(1.33)	2.81	(2.51)	8.74
PSMD	0.20	0.04	(0.15)	0.77	0.05	(0.23)	0.55	(0.41)	1.26
CANC	1.10	0.24	0.16	0.53	0.86	(1.25)	2.70	(1.65)	7.14
FSZ	0.52	0.03	(0.01)	0.14	0.55	(0.56)	1.26	(1.12)	3.41
MINV	1.02	(0.05)	(0.03)	0.04	1.44	(1.04)	2.25	(2.11)	5.71
ONLN	1.12	0.01	(0.03)	0.12	1.73	(1.08)	2.04	(2.43)	6.73
OVLH	0.40	0.01	(0.11)	0.25	0.53	(0.41)	0.92	(0.94)	2.25
ELFY	0.97	(0.10)	(0.07)	0.00	1.32	(0.92)	1.93	(2.09)	5.69
MAVF	0.72	0.02	0.03	0.10	0.84	(0.74)	1.47	(1.63)	3.54
CVMC	0.72	0.05	(0.02)	0.40	0.86	(0.74)	1.54	(1.27)	3.51

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