Amplify Digital Correlations

IPAY Etf

USD 52.54 0.15 0.28%

The current 90-days correlation between Amplify Digital Payments and BlackRock Total Return is 0.29 (i.e., Modest diversification). The correlation of Amplify Digital 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.

Amplify Digital Correlation With Market

Poor diversification

The correlation between Amplify Digital Payments and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Digital Payments and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Amplify Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Amplify Digital Payments. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving against Amplify Etf

0.73	ICLN	iShares Global Clean	Pair Corr
0.61	QCLN	First Trust NASDAQ	Pair Corr
0.59	TAN	Invesco Solar ETF	Pair Corr
0.59	DRIV	Global X Autonomous	Pair Corr
0.57	VUG	Vanguard Growth Index	Pair Corr
0.55	BOTZ	Global X Robotics	Pair Corr
0.55	ACES	ALPS Clean Energy	Pair Corr
0.51	XT	iShares Exponential	Pair Corr
0.51	SPY	SPDR SP 500	Pair Corr
0.51	IVV	iShares Core SP	Pair Corr
0.47	VTI	Vanguard Total Stock	Pair Corr
0.4	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.62	FLJH	Franklin FTSE Japan	Pair Corr
0.58	SDTY	YieldMax SP 500	Pair Corr
0.56	KCSH	KraneShares Trust	Pair Corr
0.55	AXSAX	Axonic Strategic Income	Pair Corr
0.53	UDEC	Innovator SP 500	Pair Corr
0.49	KARS	KraneShares Electric	Pair Corr
0.46	MGOV	First Trust Exchange	Pair Corr
0.45	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.45	XJUN	First Trust Exchange	Pair Corr
0.44	VEA	Vanguard FTSE Developed	Pair Corr
0.41	EAGG	iShares ESG Aggregate	Pair Corr
0.34	XKST	SPDR SP Kensho	Pair Corr
0.67	NVDY	YieldMax NVDA Option Sell-off Trend	Pair Corr
0.65	PMMF	BlackRock ETF Trust	Pair Corr
0.56	QMOM	Alpha Architect Quan	Pair Corr
0.55	PICK	iShares MSCI Global	Pair Corr
0.55	GLTR	abrdn Physical Precious	Pair Corr
0.53	JANW	AIM ETF Products	Pair Corr

Related Correlations Analysis

	BRTR	VALQ	IWMI	BNKU	PPIE	PJP	TDV	PIO	RTH	ASLV
BRTR		0.68	0.91	0.43	0.82	0.79	0.84	0.31	0.36	0.61	BRTR
VALQ	0.68		0.81	0.59	0.73	0.72	0.82	0.38	0.48	0.93	VALQ
IWMI	0.91	0.81		0.59	0.86	0.87	0.92	0.28	0.31	0.71	IWMI
BNKU	0.43	0.59	0.59		0.33	0.43	0.57	-0.28	0.56	0.64	BNKU
PPIE	0.82	0.73	0.86	0.33		0.82	0.89	0.57	0.23	0.54	PPIE
PJP	0.79	0.72	0.87	0.43	0.82		0.75	0.3	0.38	0.61	PJP
TDV	0.84	0.82	0.92	0.57	0.89	0.75		0.4	0.3	0.68	TDV
PIO	0.31	0.38	0.28	-0.28	0.57	0.3	0.4		-0.01	0.24	PIO
RTH	0.36	0.48	0.31	0.56	0.23	0.38	0.3	-0.01		0.57	RTH
ASLV	0.61	0.93	0.71	0.64	0.54	0.61	0.68	0.24	0.57		ASLV
	BRTR	VALQ	IWMI	BNKU	PPIE	PJP	TDV	PIO	RTH	ASLV

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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

ASLV	+ 0.93	VALQ
TDV	+ 0.92	IWMI
IWMI	+ 0.91	BRTR
TDV	+ 0.89	PPIE
PJP	+ 0.87	IWMI
PPIE	+ 0.86	IWMI

High negative correlations

PIO	- 0.28	BNKU
RTH	- 0.01	PIO

Amplify Digital Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify Digital 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 Amplify Digital'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
BRTR	0.17	0.02	(0.35)	0.43	0.00	(0.20)	0.40	(0.26)	1.01
VALQ	0.49	(0.04)	(0.08)	0.05	0.53	(0.51)	1.26	(0.74)	3.54
IWMI	0.65	0.02	0.05	0.11	0.62	(0.77)	1.77	(1.38)	4.72
BNKU	2.35	0.01	0.07	0.09	2.89	(2.47)	5.83	(6.12)	14.93
PPIE	0.57	0.00	(0.02)	0.09	0.62	(0.64)	1.13	(1.21)	3.58
PJP	0.64	0.16	0.16	0.36	0.44	(0.81)	1.63	(1.47)	4.78
TDV	0.80	(0.07)	(0.03)	0.04	1.04	(0.82)	1.78	(1.54)	5.91
PIO	0.53	(0.06)	(0.11)	0.01	0.72	(0.52)	1.36	(1.13)	3.34
RTH	0.49	(0.02)	(0.08)	0.06	0.59	(0.48)	1.03	(1.15)	3.00
ASLV	0.47	(0.03)	(0.07)	0.05	0.49	(0.51)	1.16	(0.91)	3.47

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