MicroSectors FANG Correlations
| FNGUDelisted Etf | USD 29.42 0.27 0.91% |
The current 90-days correlation between MicroSectors FANG Index and Direxion Daily Semiconductor is 0.17 (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. 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 Index and DJI is 0.04 (i.e., Significant 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.
MicroSectors |
Moving together with MicroSectors Etf
| 0.89 | SSO | ProShares Ultra SP500 | PairCorr |
| 0.89 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.9 | QLD | ProShares Ultra QQQ | PairCorr |
| 0.89 | UPRO | ProShares UltraPro SP500 | PairCorr |
| 0.87 | TECL | Direxion Daily Technology | PairCorr |
| 0.83 | LABU | Direxion Daily SP | PairCorr |
| 0.89 | VTI | Vanguard Total Stock | PairCorr |
| 0.89 | SPY | SPDR SP 500 | PairCorr |
| 0.89 | IVV | iShares Core SP | PairCorr |
| 0.83 | BND | Vanguard Total Bond | PairCorr |
| 0.84 | VTV | Vanguard Value Index Sell-off Trend | PairCorr |
| 0.89 | VUG | Vanguard Growth Index | PairCorr |
| 0.76 | VO | Vanguard Mid Cap | PairCorr |
| 0.81 | VEA | Vanguard FTSE Developed | PairCorr |
| 0.78 | VB | Vanguard Small Cap | PairCorr |
| 0.9 | VWO | Vanguard FTSE Emerging | PairCorr |
| 0.79 | CAT | Caterpillar | PairCorr |
| 0.65 | JNJ | Johnson Johnson Earnings Call This Week | PairCorr |
| 0.78 | BAC | Bank of America Earnings Call Next Week | PairCorr |
| 0.76 | INTC | Intel Aggressive Push | PairCorr |
| 0.85 | JPM | JPMorgan Chase Earnings Call This Week | PairCorr |
| 0.72 | WMT | Walmart | PairCorr |
| 0.71 | AXP | American Express | PairCorr |
| 0.73 | TRV | The Travelers Companies | PairCorr |
Moving against MicroSectors Etf
Related Correlations Analysis
| 0.94 | -0.78 | 0.94 | 0.88 | SOXL | ||
| 0.94 | -0.91 | 0.98 | 0.9 | BULZ | ||
| -0.78 | -0.91 | -0.87 | -0.84 | FNGD | ||
| 0.94 | 0.98 | -0.87 | 0.85 | TECL | ||
| 0.88 | 0.9 | -0.84 | 0.85 | LABU | ||
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
| High negative correlations
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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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SOXL | 2.83 | 0.64 | 0.19 | 0.35 | 2.99 | 8.29 | 18.07 | |||
| BULZ | 2.22 | 0.63 | 0.21 | 0.33 | 2.78 | 5.07 | 13.94 | |||
| FNGD | 2.15 | (0.22) | 0.00 | 0.19 | 0.00 | 4.15 | 13.44 | |||
| TECL | 1.93 | 0.38 | 0.17 | 0.25 | 2.21 | 4.53 | 11.03 | |||
| LABU | 3.29 | 0.67 | 0.21 | 0.24 | 3.27 | 8.72 | 18.77 |
| The entity MicroSectors FANG Index with a symbol FNGU was recently relisted or delisted. You can potentially use FNGA New with a symbol FNGA. Please make sure the ticker renaming or change in the classification of MicroSectors FANG Index is not a temporary action by the exchange. |
Still Interested in MicroSectors FANG Index?
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