MicroSectors FANG Correlations

Etfs . USA . 
Etf . MicroSectors FANG Index
FNGO Etf  USD 109.40  1.03  0.93%   
The current 90-days correlation between MicroSectors FANG Index and MicroSectors FANG ETN is 0.95 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MicroSectors FANG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MicroSectors FANG Index moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MicroSectors FANG Correlation With Market

Poor diversification

The correlation between MicroSectors FANG Index and DJI is 0.64 (i.e., Poor 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 price.

Moving together with MicroSectors Etf

  0.99SSO ProShares Ultra SP500PairCorr
  0.99SPXL Direxion Daily SP500PairCorr
  0.99QLD ProShares Ultra QQQPairCorr
  0.84NRGU Bank of MontrealPairCorr
  0.99UPRO ProShares UltraPro SP500PairCorr
  0.98TECL Direxion Daily TechnologyPairCorr
  0.66LABU Direxion Daily SPPairCorr
  0.88GUSH Direxion Daily SPPairCorr
  0.94UYG ProShares Ultra FinaPairCorr
  0.99VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.99SPY SPDR SP 500 Sell-off TrendPairCorr
  0.99IVV iShares Core SP Sell-off TrendPairCorr
  0.61BND Vanguard Total BondPairCorr
  0.97VTV Vanguard Value IndexPairCorr
  0.99VUG Vanguard Growth IndexPairCorr
  0.98VO Vanguard Mid CapPairCorr
  0.98VEA Vanguard FTSE DevelopedPairCorr
  0.97VB Vanguard Small CapPairCorr
  0.98VWO Vanguard FTSE Emerging Sell-off TrendPairCorr
  0.93IBM International Business Earnings Call This WeekPairCorr
  0.89MMM 3M CompanyPairCorr
  0.98BAC Bank of AmericaPairCorr
  0.96GE GE Aerospace Earnings Call This WeekPairCorr
  0.9AA Alcoa CorpPairCorr
  0.86PFE Pfizer IncPairCorr
  0.96CAT CaterpillarPairCorr
  0.96DIS Walt DisneyPairCorr
  0.98MSFT MicrosoftPairCorr
  0.97JPM JPMorgan ChasePairCorr
  0.96AXP American ExpressPairCorr

Moving against MicroSectors Etf

  0.64FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.68MCD McDonaldsPairCorr
  0.57KO Coca Cola Earnings Call This WeekPairCorr
  0.49PG Procter GamblePairCorr
  0.38VZ Verizon Communications Earnings Call TomorrowPairCorr

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   
WEBL
+ 0.99
FNGS
BNKU
+ 0.96
FNGS
BNKU
+ 0.96
WEBL
WANT
+ 0.94
WEBL
WANT
+ 0.93
FNGS
BNKU
+ 0.91
WANT
  
High negative correlations   
FNGD
- 0.98
WEBL
FNGD
- 0.98
FNGS
WANT
- 0.94
FNGD
BNKU
- 0.91
FNGD

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.

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