MicroSectors FANG Correlations

FNGS Etf

USD 64.76 1.09 1.66%

The current 90-days correlation between MicroSectors FANG ETN and Franklin Templeton ETF is 0.07 (i.e., Significant 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. If the correlation is 0, the equities are not correlated; they are entirely random.

MicroSectors FANG Correlation With Market

Significant diversification

The correlation between MicroSectors FANG ETN and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors FANG ETN 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 ETN. 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

0.98	VGT	Vanguard Information	Pair Corr
0.98	XLK	Technology Select Sector	Pair Corr
0.98	IYW	iShares Technology ETF	Pair Corr
0.97	SMH	VanEck Semiconductor ETF	Pair Corr
0.97	SOXX	iShares Semiconductor ETF	Pair Corr
0.97	CIBR	First Trust NASDAQ	Pair Corr
0.98	FTEC	Fidelity MSCI Information	Pair Corr
0.97	IGV	iShares Expanded Tech Sell-off Trend	Pair Corr
0.98	FDN	First Trust Dow	Pair Corr
0.98	IGM	iShares Expanded Tech	Pair Corr
0.96	USD	ProShares Ultra Semi Downward Rally	Pair Corr
0.88	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.99	FNGO	MicroSectors FANG Index	Pair Corr
0.87	BITO	ProShares Bitcoin	Pair Corr
0.95	CRPT	First Trust SkyBridge	Pair Corr
0.83	NRGU	Bank of Montreal	Pair Corr
0.97	BULZ	MicroSectors Solactive	Pair Corr
0.91	BITS	Global X Blockchain	Pair Corr
0.99	FNGG	Direxion Daily Select	Pair Corr
0.96	DFEN	Direxion Daily Aerospace	Pair Corr
0.85	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.89	AA	Alcoa Corp	Pair Corr
0.98	MSFT	Microsoft Earnings Call Next Week	Pair Corr
0.96	DIS	Walt Disney	Pair Corr
0.96	JPM	JPMorgan Chase	Pair Corr
0.93	BA	Boeing Earnings Call This Week	Pair Corr
0.87	MMM	3M Company	Pair Corr
0.8	CVX	Chevron Corp	Pair Corr
0.97	CSCO	Cisco Systems Sell-off Trend	Pair Corr

Moving against MicroSectors Etf

0.68	MCD	McDonalds	Pair Corr
0.55	KO	Coca Cola	Pair Corr
0.47	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.38	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	DIEM	DIPS	DISO	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO
DIEM		-0.97	0.95	0.98	0.97	0.95	0.96	0.97	0.98	DIEM
DIPS	-0.97		-0.96	-0.96	-0.95	-0.92	-0.94	-0.96	-0.97	DIPS
DISO	0.95	-0.96		0.95	0.94	0.89	0.95	0.95	0.94	DISO
DIVB	0.98	-0.96	0.95		0.98	0.98	0.96	0.99	0.99	DIVB
DIVD	0.97	-0.95	0.94	0.98		0.95	0.98	0.98	0.97	DIVD
DIVG	0.95	-0.92	0.89	0.98	0.95		0.9	0.97	0.97	DIVG
DIVI	0.96	-0.94	0.95	0.96	0.98	0.9		0.96	0.95	DIVI
DIVL	0.97	-0.96	0.95	0.99	0.98	0.97	0.96		0.99	DIVL
DIVO	0.98	-0.97	0.94	0.99	0.97	0.97	0.95	0.99		DIVO
	DIEM	DIPS	DISO	DIVB	DIVD	DIVG	DIVI	DIVL	DIVO

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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

DIVL	+ 0.99	DIVB
DIVO	+ 0.99	DIVB
DIVO	+ 0.99	DIVL
DIVB	+ 0.98	DIEM
DIVO	+ 0.98	DIEM
DIVD	+ 0.98	DIVB

High negative correlations

DIVO	- 0.97	DIPS
DIPS	- 0.97	DIEM
DIVL	- 0.96	DIPS
DIVB	- 0.96	DIPS
DISO	- 0.96	DIPS
DIVD	- 0.95	DIPS

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
DIEM	0.55	0.19	0.19	0.56	0.09	(0.68)	1.52	(1.02)	4.00
DIPS	1.50	(0.43)	0.00	0.56	0.00	0.00	2.74	(4.05)	13.70
DISO	0.83	0.30	0.28	0.61	0.35	(1.12)	1.85	(1.28)	8.62
DIVB	0.61	0.07	0.06	0.23	0.49	(0.71)	1.64	(1.21)	4.54
DIVD	0.54	0.07	0.02	0.25	0.46	(0.61)	1.31	(1.13)	3.11
DIVG	0.63	0.02	(0.01)	0.17	0.73	(0.65)	1.45	(1.19)	4.55
DIVI	0.57	0.11	0.05	0.37	0.42	(0.63)	1.37	(1.07)	3.32
DIVL	0.61	0.04	(0.01)	0.21	0.63	(0.70)	1.46	(1.33)	5.05
DIVO	0.48	0.03	(0.02)	0.18	0.51	(0.54)	1.31	(1.10)	3.08

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