MicroSectors FANG Correlations

FNGD Etf

USD 4.95 0.32 6.91%

The current 90-days correlation between MicroSectors FANG Index and Capital Group Core is 0.11 (i.e., Average 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

Good diversification

The correlation between MicroSectors FANG Index and DJI is -0.09 (i.e., Good 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 census.

Moving together with MicroSectors Etf

0.9	SH	ProShares Short SP500	Pair Corr
0.73	PSQ	ProShares Short QQQ	Pair Corr
0.91	SPXU	ProShares UltraPro Short	Pair Corr
0.71	SDS	ProShares UltraShort	Pair Corr
0.92	SPXS	Direxion Daily SP	Pair Corr
0.75	QID	ProShares UltraShort QQQ Aggressive Push	Pair Corr
0.89	SPDN	Direxion Daily SP	Pair Corr
0.85	DOG	ProShares Short Dow30	Pair Corr

Moving against MicroSectors Etf

0.77	VUG	Vanguard Growth Index	Pair Corr
0.76	SPY	SPDR SP 500	Pair Corr
0.76	IVV	iShares Core SP	Pair Corr
0.69	VTI	Vanguard Total Stock	Pair Corr
0.64	VEA	Vanguard FTSE Developed	Pair Corr
0.41	VWO	Vanguard FTSE Emerging	Pair Corr
0.4	VTV	Vanguard Value Index	Pair Corr
0.72	SUSL	iShares ESG MSCI	Pair Corr
0.65	AXP	American Express	Pair Corr
0.62	BAC	Bank of America Aggressive Push	Pair Corr
0.51	MMM	3M Company	Pair Corr
0.49	IBM	International Business	Pair Corr
0.46	DD	Dupont De Nemours	Pair Corr
0.45	AA	Alcoa Corp	Pair Corr
0.4	CSCO	Cisco Systems	Pair Corr
0.35	KO	Coca Cola	Pair Corr

Related Correlations Analysis

	CGBL	AOR	IYY	IWX	EPI	LRGF	EWU	USCL	QTEC	XME
CGBL		0.8	0.82	0.61	-0.08	0.8	0.68	0.57	0.7	0.58	CGBL
AOR	0.8		0.97	0.72	0.37	0.85	0.91	0.72	0.74	0.39	AOR
IYY	0.82	0.97		0.68	0.25	0.93	0.85	0.75	0.81	0.35	IYY
IWX	0.61	0.72	0.68		0.3	0.48	0.74	0.76	0.32	0.17	IWX
EPI	-0.08	0.37	0.25	0.3		0.11	0.28	0.3	0.05	-0.21	EPI
LRGF	0.8	0.85	0.93	0.48	0.11		0.69	0.73	0.88	0.31	LRGF
EWU	0.68	0.91	0.85	0.74	0.28	0.69		0.67	0.58	0.32	EWU
USCL	0.57	0.72	0.75	0.76	0.3	0.73	0.67		0.64	0.22	USCL
QTEC	0.7	0.74	0.81	0.32	0.05	0.88	0.58	0.64		0.57	QTEC
XME	0.58	0.39	0.35	0.17	-0.21	0.31	0.32	0.22	0.57		XME
	CGBL	AOR	IYY	IWX	EPI	LRGF	EWU	USCL	QTEC	XME

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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

IYY	+ 0.97	AOR
LRGF	+ 0.93	IYY
EWU	+ 0.91	AOR
QTEC	+ 0.88	LRGF
LRGF	+ 0.85	AOR
EWU	+ 0.85	IYY

High negative correlations

XME	- 0.21	EPI
EPI	- 0.08	CGBL

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
CGBL	0.42	(0.03)	(0.08)	0.03	0.55	(0.42)	0.88	(0.88)	2.74
AOR	0.35	(0.01)	(0.08)	0.04	0.47	(0.35)	0.74	(0.72)	2.03
IYY	0.58	(0.02)	(0.03)	0.05	0.86	(0.55)	1.21	(1.25)	3.26
IWX	0.49	0.08	0.03	0.78	0.46	(0.52)	0.98	(0.89)	2.53
EPI	0.57	0.00	(0.09)	0.02	0.72	(0.56)	0.86	(0.90)	3.62
LRGF	0.57	(0.04)	(0.05)	0.02	0.92	(0.50)	1.14	(1.28)	3.29
EWU	0.60	(0.02)	(0.06)	0.04	0.56	(0.72)	1.33	(1.08)	2.75
USCL	0.58	0.04	(0.02)	0.51	0.84	(0.56)	1.27	(1.36)	3.49
QTEC	1.11	0.00	0.02	0.07	1.57	(1.06)	2.20	(2.60)	7.32
XME	1.75	0.11	0.06	0.13	2.45	(1.67)	3.33	(4.12)	13.65

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