2x Long Correlations

UVIX Etf

USD 14.25 0.08 0.56%

The current 90-days correlation between 2x Long VIX and 1x Short VIX is 0.35 (i.e., Weak diversification). The correlation of 2x Long 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.

2x Long Correlation With Market

Weak diversification

The correlation between 2x Long VIX 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 2x Long VIX and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with UVIX Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in 2x Long VIX. 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 UVIX Etf

0.76

Procter Gamble

Pair Corr

Moving against UVIX Etf

0.98	UPRO	ProShares UltraPro SP500	Pair Corr
0.95	QLD	ProShares Ultra QQQ	Pair Corr
0.94	SSO	ProShares Ultra SP500	Pair Corr
0.94	SPXL	Direxion Daily SP500	Pair Corr
0.94	TECL	Direxion Daily Technology	Pair Corr
0.89	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.87	CVX	Chevron Corp	Pair Corr
0.86	PMBS	PIMCO Mortgage Backed	Pair Corr
0.83	ITWO	Proshares Russell 2000	Pair Corr
0.79	LABU	Direxion Daily SP	Pair Corr
0.75	BAC	Bank of America	Pair Corr
0.7	UYG	ProShares Ultra Fina	Pair Corr
0.7	AMPD	Tidal ETF Services	Pair Corr
0.53	NRGU	Bank of Montreal	Pair Corr
0.92	CAT	Caterpillar	Pair Corr
0.9	CSCO	Cisco Systems	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.86	BA	Boeing	Pair Corr
0.83	JNJ	Johnson Johnson	Pair Corr
0.72	AA	Alcoa Corp	Pair Corr
0.71	PFE	Pfizer Inc	Pair Corr
0.66	MRK	Merck Company Aggressive Push	Pair Corr
0.53	DIS	Walt Disney	Pair Corr
0.37	XOM	Exxon Mobil Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.91	0.32	0.61	0.58	0.49	-0.78	0.78	0.6	0.33	META
MSFT	0.91		0.37	0.7	0.44	0.44	-0.73	0.93	0.7	0.42	MSFT
UBER	0.32	0.37		0.77	0.15	0.44	0.07	0.51	0.41	0.37	UBER
F	0.61	0.7	0.77		0.3	0.61	-0.35	0.79	0.75	0.59	F
T	0.58	0.44	0.15	0.3		0.48	-0.46	0.4	0.43	0.06	T
A	0.49	0.44	0.44	0.61	0.48		-0.16	0.55	0.77	0.67	A
CRM	-0.78	-0.73	0.07	-0.35	-0.46	-0.16		-0.51	-0.44	-0.08	CRM
JPM	0.78	0.93	0.51	0.79	0.4	0.55	-0.51		0.74	0.51	JPM
MRK	0.6	0.7	0.41	0.75	0.43	0.77	-0.44	0.74		0.64	MRK
XOM	0.33	0.42	0.37	0.59	0.06	0.67	-0.08	0.51	0.64		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

JPM	+ 0.93	MSFT
MSFT	+ 0.91	META
JPM	+ 0.79	F
JPM	+ 0.78	META
F	+ 0.77	UBER
MRK	+ 0.77	A

High negative correlations

CRM	- 0.78	META
CRM	- 0.73	MSFT
JPM	- 0.51	CRM
CRM	- 0.46	T
MRK	- 0.44	CRM
CRM	- 0.35	F

2x Long Constituents Risk-Adjusted Indicators

There is a big difference between UVIX Etf performing well and 2x Long 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 2x Long'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	1.37	0.27	0.18	0.49	1.02	(1.67)	3.16	(2.35)	14.28
MSFT	0.68	0.19	0.19	0.47	0.48	(0.80)	1.80	(1.22)	5.71
UBER	1.40	0.02	(0.01)	0.10	1.65	(1.56)	3.26	(3.36)	11.37
F	1.25	0.06	0.04	0.14	1.53	(1.24)	2.13	(2.36)	7.46
T	0.83	0.07	0.03	0.26	0.90	(0.90)	2.03	(1.96)	5.71
A	1.36	(0.07)	(0.01)	0.03	1.81	(1.34)	2.80	(2.74)	9.19
CRM	1.19	(0.42)	0.00	(0.25)	0.00	0.00	2.12	(3.26)	6.27
JPM	0.82	0.12	0.10	0.20	0.88	(0.88)	1.78	(1.51)	5.19
MRK	1.28	(0.02)	(0.01)	0.06	1.91	(1.15)	2.90	(3.31)	7.79
XOM	1.03	(0.02)	0.00	(0.12)	0.00	0.00	2.14	(2.07)	6.26

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