Defiance Daily Correlations

RKLZ Etf

3.04 0.66 17.84%

The current 90-days correlation between Defiance Daily Target and Harbor ETF Trust is -0.14 (i.e., Good diversification). The correlation of Defiance Daily 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 Daily Correlation With Market

Excellent diversification

The correlation between Defiance Daily Target and DJI is -0.61 (i.e., Excellent 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 metropolitan statistical area.

Moving together with Defiance Etf

0.62	SH	ProShares Short SP500	Pair Corr
0.62	DOG	ProShares Short Dow30	Pair Corr

Moving against Defiance Etf

0.74	BST	BlackRock Science Tech	Pair Corr
0.57	TOT	Advisor Managed Port	Pair Corr
0.55	VBK	Vanguard Small Cap	Pair Corr
0.46	WTMF	WisdomTree Managed	Pair Corr
0.43	OASC	OneAscent Small Cap	Pair Corr
0.4	OIH	VanEck Oil Services	Pair Corr
0.39	EWC	iShares MSCI Canada	Pair Corr
0.39	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.36	RDIV	Invesco SP Ultra	Pair Corr
0.75	DIS	Walt Disney Sell-off Trend	Pair Corr
0.63	BA	Boeing	Pair Corr
0.48	AA	Alcoa Corp	Pair Corr
0.48	CVX	Chevron Corp	Pair Corr
0.43	CAT	Caterpillar	Pair Corr
0.41	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.4	AHYB	American Century ETF	Pair Corr
0.37	INTC	Intel Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.21	-0.28	0.35	0.07	-0.51	0.08	0.24	0.28	0.37	META
MSFT	-0.21		0.72	-0.55	-0.07	0.43	0.56	0.03	-0.79	-0.79	MSFT
UBER	-0.28	0.72		-0.49	0.14	0.55	0.16	-0.16	-0.79	-0.55	UBER
F	0.35	-0.55	-0.49		-0.36	-0.31	-0.06	0.38	0.7	0.65	F
T	0.07	-0.07	0.14	-0.36		0.25	-0.42	-0.21	-0.15	-0.08	T
A	-0.51	0.43	0.55	-0.31	0.25		0.06	-0.05	-0.37	-0.6	A
CRM	0.08	0.56	0.16	-0.06	-0.42	0.06		0.64	-0.24	-0.59	CRM
JPM	0.24	0.03	-0.16	0.38	-0.21	-0.05	0.64		0.25	-0.14	JPM
MRK	0.28	-0.79	-0.79	0.7	-0.15	-0.37	-0.24	0.25		0.7	MRK
XOM	0.37	-0.79	-0.55	0.65	-0.08	-0.6	-0.59	-0.14	0.7		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

UBER	+ 0.72	MSFT
MRK	+ 0.7	F
XOM	+ 0.7	MRK
XOM	+ 0.65	F
JPM	+ 0.64	CRM
CRM	+ 0.56	MSFT

High negative correlations

MRK	- 0.79	UBER
XOM	- 0.79	MSFT
MRK	- 0.79	MSFT
XOM	- 0.6	A
XOM	- 0.59	CRM
XOM	- 0.55	UBER

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	1.66	(0.15)	0.00	(0.10)	0.00	0.00	3.43	(2.72)	13.36
MSFT	1.26	(0.41)	0.00	(2.17)	0.00	0.00	1.78	(2.74)	13.28
UBER	1.51	(0.33)	0.00	(0.37)	0.00	0.00	2.46	(3.82)	10.23
F	1.23	0.03	0.02	0.07	1.22	(1.48)	3.38	(2.35)	7.16
T	0.95	0.11	0.07	0.54	0.94	(1.05)	2.02	(1.76)	4.31
A	1.21	(0.17)	0.00	(0.09)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.65	(0.40)	0.00	(0.33)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.13	0.00	0.01	0.04	1.63	(1.16)	2.18	(3.11)	7.38
MRK	1.30	0.43	0.30	0.61	1.09	(1.61)	3.59	(1.98)	8.09
XOM	1.14	0.33	0.22	(21.90)	0.99	(1.33)	2.41	(2.11)	5.85

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