MicroSectors FANG Correlations

FNGD Etf

USD 4.56 0.03 0.65%

The current 90-days correlation between MicroSectors FANG Index and SPDR SP Metals is -0.53 (i.e., Excellent diversification). The correlation of MicroSectors FANG 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.

MicroSectors FANG Correlation With Market

Excellent diversification

The correlation between MicroSectors FANG Index and DJI is -0.55 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors FANG Index and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MicroSectors Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in MicroSectors FANG Index. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with MicroSectors Etf

0.96	SH	ProShares Short SP500	Pair Corr
0.83	PSQ	ProShares Short QQQ	Pair Corr
0.86	SPXU	ProShares UltraPro Short Aggressive Push	Pair Corr
0.96	SDS	ProShares UltraShort Aggressive Push	Pair Corr
0.86	SPXS	Direxion Daily SP	Pair Corr
0.84	QID	ProShares UltraShort QQQ	Pair Corr
0.8	RWM	ProShares Short Russ	Pair Corr
0.96	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.89	DOG	ProShares Short Dow30	Pair Corr

Moving against MicroSectors Etf

0.83	TESL	Simplify Volt TSLA Symbol Change	Pair Corr
0.8	MUU	Direxion Daily MU Upward Rally	Pair Corr
0.77	KORU	Direxion Daily South	Pair Corr
0.76	TARK	AXS 2X Innovation	Pair Corr
0.62	GDXU	MicroSectors Gold Miners	Pair Corr
0.61	PTIR	GraniteShares 2x Long	Pair Corr
0.45	DZZ	DB Gold Double	Pair Corr
0.36	TAIL	Cambria Tail Risk	Pair Corr
0.93	MKOR	Matthews International	Pair Corr
0.92	QMOM	Alpha Architect Quan	Pair Corr
0.88	KARS	KraneShares Electric	Pair Corr
0.84	FLGV	Franklin Liberty Treasury	Pair Corr
0.82	FLSP	Franklin Liberty Sys	Pair Corr
0.81	IXP	iShares Global Comm	Pair Corr
0.8	DFEN	Direxion Daily Aerospace	Pair Corr
0.78	FLJH	Franklin FTSE Japan	Pair Corr
0.78	JOET	Virtus ETF Trust	Pair Corr
0.78	AVEE	American Century ETF	Pair Corr
0.78	YMAG	YieldMax Magnificent Potential Growth	Pair Corr
0.76	JUNP	PGIM Large Cap	Pair Corr
0.75	GLTR	abrdn Physical Precious	Pair Corr
0.74	UCC	ProShares Ultra Consumer	Pair Corr
0.69	LFBB	Stone Ridge	Pair Corr
0.66	INDE	Matthews International	Pair Corr
0.96	UDEC	Innovator SP 500	Pair Corr
0.95	JANW	AIM ETF Products	Pair Corr
0.9	PRF	Invesco FTSE RAFI	Pair Corr
0.88	UMMA	Wahed Dow Jones	Pair Corr
0.88	PICK	iShares MSCI Global	Pair Corr
0.88	EAGG	iShares ESG Aggregate	Pair Corr

Related Correlations Analysis

	XME	HELO	IMCG	PTLC	CGDG	FIXD	USRT	EWC	USCA	GRID
XME		0.69	0.63	0.79	0.75	0.83	0.54	0.83	0.8	0.86	XME
HELO	0.69		0.63	0.88	0.94	0.85	0.72	0.9	0.87	0.86	HELO
IMCG	0.63	0.63		0.73	0.67	0.7	0.77	0.73	0.73	0.64	IMCG
PTLC	0.79	0.88	0.73		0.87	0.89	0.64	0.85	1.0	0.96	PTLC
CGDG	0.75	0.94	0.67	0.87		0.84	0.76	0.87	0.87	0.88	CGDG
FIXD	0.83	0.85	0.7	0.89	0.84		0.76	0.87	0.89	0.9	FIXD
USRT	0.54	0.72	0.77	0.64	0.76	0.76		0.75	0.63	0.58	USRT
EWC	0.83	0.9	0.73	0.85	0.87	0.87	0.75		0.84	0.83	EWC
USCA	0.8	0.87	0.73	1.0	0.87	0.89	0.63	0.84		0.96	USCA
GRID	0.86	0.86	0.64	0.96	0.88	0.9	0.58	0.83	0.96		GRID
	XME	HELO	IMCG	PTLC	CGDG	FIXD	USRT	EWC	USCA	GRID

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MicroSectors FANG Constituents Risk-Adjusted Indicators

There is a big difference between MicroSectors Etf performing well and MicroSectors FANG 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 MicroSectors FANG'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
XME	1.48	0.12	0.07	0.19	1.94	(1.53)	3.41	(3.01)	13.65
HELO	0.19	0.05	(0.15)	(1.28)	0.12	(0.21)	0.52	(0.34)	1.83
IMCG	0.62	(0.09)	(0.11)	0.01	0.73	(0.71)	1.15	(0.97)	4.14
PTLC	0.49	0.02	0.01	0.12	0.59	(0.55)	1.08	(0.77)	4.25
CGDG	0.42	0.05	(0.10)	(2.24)	0.47	(0.47)	0.83	(0.71)	3.08
FIXD	0.18	0.03	(0.31)	0.57	0.00	(0.20)	0.39	(0.25)	1.07
USRT	0.67	0.05	(0.07)	(0.43)	0.77	(0.73)	1.47	(1.38)	4.11
EWC	0.56	0.06	(0.03)	1.11	0.67	(0.59)	1.22	(1.28)	3.03
USCA	0.51	0.10	(0.01)	(0.57)	0.63	(0.53)	1.07	(0.78)	3.97
GRID	0.78	0.06	0.05	0.16	0.83	(0.80)	1.70	(1.62)	4.21

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