Defiance Daily Correlations

OKLL Etf

28.75 11.78 29.06%

The current 90-days correlation between Defiance Daily Target and Defiance Daily Target is -0.12 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Defiance Daily moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Defiance Daily Target moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Defiance Daily Correlation With Market

Weak diversification

The correlation between Defiance Daily Target and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Daily Target and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Defiance Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Defiance Daily Target. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Defiance Etf

0.78	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.82	BITS	Global X Blockchain	Pair Corr
0.84	SATO	Invesco Alerian Galaxy	Pair Corr
0.62	GLTR	abrdn Physical Precious	Pair Corr
0.73	SGDJ	Sprott Junior Gold	Pair Corr
0.73	AGMI	Themes Silver Miners Downward Rally	Pair Corr
0.82	IBLC	iShares Blockchain and	Pair Corr

Moving against Defiance Etf

0.39

NRGU

Bank of Montreal

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.16	0.47	-0.72	0.71	-0.7	0.23	-0.3	-0.64	-0.63	META
MSFT	0.16		0.34	0.21	-0.44	0.38	0.3	0.13	0.11	0.01	MSFT
UBER	0.47	0.34		-0.25	0.19	-0.31	0.09	0.34	-0.42	-0.2	UBER
F	-0.72	0.21	-0.25		-0.76	0.8	0.09	0.38	0.59	0.72	F
T	0.71	-0.44	0.19	-0.76		-0.92	-0.09	-0.31	-0.6	-0.53	T
A	-0.7	0.38	-0.31	0.8	-0.92		0.08	0.33	0.64	0.56	A
CRM	0.23	0.3	0.09	0.09	-0.09	0.08		-0.23	-0.16	-0.18	CRM
JPM	-0.3	0.13	0.34	0.38	-0.31	0.33	-0.23		-0.13	0.52	JPM
MRK	-0.64	0.11	-0.42	0.59	-0.6	0.64	-0.16	-0.13		0.44	MRK
XOM	-0.63	0.01	-0.2	0.72	-0.53	0.56	-0.18	0.52	0.44		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

A	+ 0.8	F
XOM	+ 0.72	F
T	+ 0.71	META
MRK	+ 0.64	A
MRK	+ 0.59	F
XOM	+ 0.56	A

High negative correlations

A	- 0.92	T
T	- 0.76	F
F	- 0.72	META
A	- 0.7	META
MRK	- 0.64	META
XOM	- 0.63	META

Defiance Daily Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Daily 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 Defiance Daily'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
META	1.25	(0.36)	0.00	1.92	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.82	(0.07)	0.00	(3.80)	0.00	0.00	1.85	(2.19)	5.08
UBER	1.42	(0.12)	0.00	(0.09)	0.00	0.00	3.34	(2.71)	9.09
F	1.42	0.15	0.09	0.14	1.54	(1.67)	3.66	(2.07)	16.30
T	0.99	(0.20)	0.00	(0.94)	0.00	0.00	1.84	(2.32)	6.25
A	1.30	0.25	0.18	0.22	1.13	(1.45)	3.82	(2.15)	11.03
CRM	1.59	(0.14)	0.00	(0.10)	0.00	0.00	2.93	(3.61)	9.91
JPM	0.87	0.03	0.03	0.07	1.29	(0.82)	1.67	(1.91)	5.76
MRK	1.26	0.23	0.15	6.41	1.12	(1.60)	3.84	(2.36)	11.45
XOM	0.94	0.13	0.08	0.50	1.12	(0.92)	1.78	(1.93)	4.71

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