Defiance Daily Correlations

SMST Etf

20.25 2.26 12.56%

The current 90-days correlation between Defiance Daily Target and ProShares Short SP500 is 0.31 (i.e., Weak 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

Very good diversification

The correlation between Defiance Daily Target and DJI is -0.21 (i.e., Very good 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 World Market Map 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 state.

Moving together with Defiance Etf

0.85	SH	ProShares Short SP500	Pair Corr
0.85	PSQ	ProShares Short QQQ	Pair Corr
0.86	SPXU	ProShares UltraPro Short	Pair Corr
0.86	SDS	ProShares UltraShort	Pair Corr
0.86	SPXS	Direxion Daily SP	Pair Corr
0.85	QID	ProShares UltraShort QQQ	Pair Corr
0.87	RWM	ProShares Short Russ	Pair Corr
0.85	SPDN	Direxion Daily SP	Pair Corr
0.86	TAIL	Cambria Tail Risk	Pair Corr
0.82	DOG	ProShares Short Dow30	Pair Corr
0.65	PG	Procter Gamble	Pair Corr

Moving against Defiance Etf

0.9	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.87	KGRN	KraneShares MSCI China	Pair Corr
0.83	QLD	ProShares Ultra QQQ	Pair Corr
0.83	SPXL	Direxion Daily SP500	Pair Corr
0.83	UPRO	ProShares UltraPro SP500	Pair Corr
0.82	ROM	ProShares Ultra Tech	Pair Corr
0.81	TECL	Direxion Daily Technology	Pair Corr
0.8	SOXX	iShares Semiconductor ETF	Pair Corr
0.78	SMH	VanEck Semiconductor ETF	Pair Corr
0.75	USD	ProShares Ultra Semi	Pair Corr
0.59	EUSB	iShares Trust	Pair Corr
0.9	BA	Boeing	Pair Corr
0.88	DD	Dupont De Nemours	Pair Corr
0.85	MMM	3M Company	Pair Corr
0.83	AXP	American Express	Pair Corr
0.83	MSFT	Microsoft	Pair Corr
0.81	BAC	Bank of America	Pair Corr
0.79	DIS	Walt Disney	Pair Corr
0.73	AA	Alcoa Corp	Pair Corr
0.72	INTC	Intel Earnings Call This Week	Pair Corr
0.72	CSCO	Cisco Systems	Pair Corr
0.71	PFE	Pfizer Inc	Pair Corr
0.66	CVX	Chevron Corp	Pair Corr
0.58	HD	Home Depot	Pair Corr
0.56	XOM	Exxon Mobil Corp	Pair Corr
0.4	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.57	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.59	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.54	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.73	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.16	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.63	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.08	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.68	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.56	MRK
XOM	0.57	0.59	0.54	0.73	0.16	0.63	-0.08	0.68	0.56		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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.08	CRM

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	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.08	0.14	0.00	(9.00)	1.19	(1.12)	2.40	(2.51)	5.84

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