Defiance Leveraged Correlations

PLT Etf

USD 15.93 0.34 2.18%

The current 90-days correlation between Defiance Leveraged Long and Spinnaker ETF Series is -0.05 (i.e., Good diversification). The correlation of Defiance Leveraged 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.

Defiance Leveraged Correlation With Market

Weak diversification

The correlation between Defiance Leveraged Long and DJI is 0.34 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Leveraged Long 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 Leveraged Long. 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

0.67	YCS	ProShares UltraShort Yen	Pair Corr
0.68	CEFD	ETRACS Monthly Pay	Pair Corr
0.97	PTIR	GraniteShares 2x Long	Pair Corr
0.76	MUU	Direxion Daily MU Buyout Trend	Pair Corr
0.83	KORU	Direxion Daily South	Pair Corr
0.69	TESL	Simplify Volt TSLA Symbol Change	Pair Corr
0.92	VGT	Vanguard Information	Pair Corr
0.91	IVW	iShares SP 500	Pair Corr
0.78	RVNU	Xtrackers Municipal	Pair Corr
0.76	HMOP	Hartford Municipal	Pair Corr
0.87	AIBU	Direxion Shares ETF	Pair Corr
0.85	XCEM	Columbia EM Core	Pair Corr
0.75	RFMZ	RiverNorth Flexible	Pair Corr
0.65	SGDJ	Sprott Junior Gold	Pair Corr
0.77	YFYA	Listed Funds Trust	Pair Corr
0.91	QGRD	Horizon Nasdaq 100	Pair Corr
0.89	SECT	Main Sector Rotation	Pair Corr

Moving against Defiance Etf

0.57	VXX	iPath Series B	Pair Corr
0.57	VIXY	ProShares VIX Short	Pair Corr
0.34	UDN	Invesco DB Dollar	Pair Corr
0.33	VIXM	ProShares VIX Mid Low Volatility	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.12	0.24	-0.73	0.74	-0.72	-0.06	-0.47	-0.57	-0.57	META
MSFT	0.12		0.35	0.28	-0.43	0.37	0.18	0.12	0.24	0.12	MSFT
UBER	0.24	0.35		-0.11	0.08	-0.17	-0.02	0.38	-0.31	0.08	UBER
F	-0.73	0.28	-0.11		-0.76	0.8	0.27	0.47	0.61	0.7	F
T	0.74	-0.43	0.08	-0.76		-0.92	-0.23	-0.38	-0.59	-0.52	T
A	-0.72	0.37	-0.17	0.8	-0.92		0.24	0.43	0.69	0.6	A
CRM	-0.06	0.18	-0.02	0.27	-0.23	0.24		-0.18	0.04	0.12	CRM
JPM	-0.47	0.12	0.38	0.47	-0.38	0.43	-0.18		0.03	0.69	JPM
MRK	-0.57	0.24	-0.31	0.61	-0.59	0.69	0.04	0.03		0.35	MRK
XOM	-0.57	0.12	0.08	0.7	-0.52	0.6	0.12	0.69	0.35		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
T	+ 0.74	META
XOM	+ 0.7	F
MRK	+ 0.69	A
XOM	+ 0.69	JPM
MRK	+ 0.61	F

High negative correlations

A	- 0.92	T
T	- 0.76	F
F	- 0.73	META
A	- 0.72	META
MRK	- 0.59	T
XOM	- 0.57	META

Defiance Leveraged Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Leveraged 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 Leveraged'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	1.28	(0.43)	0.00	(0.40)	0.00	0.00	1.87	(2.72)	13.52
MSFT	0.78	(0.09)	0.00	(0.05)	0.00	0.00	1.85	(1.98)	5.08
UBER	1.43	(0.05)	(0.03)	0.01	1.81	(1.55)	3.34	(2.71)	9.09
F	1.38	0.15	0.11	0.17	1.46	(1.62)	3.66	(1.73)	16.30
T	0.97	(0.18)	0.00	(0.67)	0.00	0.00	1.84	(2.32)	6.25
A	1.30	0.24	0.18	0.25	1.07	(1.46)	3.82	(2.15)	11.03
CRM	1.55	0.01	0.01	0.08	2.21	(1.47)	3.59	(3.61)	9.91
JPM	0.86	(0.02)	(0.01)	0.05	1.30	(0.79)	1.67	(1.91)	5.76
MRK	1.22	0.15	0.10	0.30	1.14	(1.48)	1.80	(2.36)	11.45
XOM	0.88	0.16	0.09	0.63	1.04	(0.87)	1.78	(1.93)	4.71

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