Defiance Leveraged Correlations

AMDU Etf

20.81 0.04 0.19%

The current 90-days correlation between Defiance Leveraged Long and Defiance Leveraged Long is 0.41 (i.e., Very weak 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

Modest diversification

The correlation between Defiance Leveraged Long and DJI is 0.22 (i.e., Modest 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 Trending Equities 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 services.

Moving together with Defiance Etf

0.66	USD	ProShares Ultra Semi	Pair Corr
0.65	TECL	Direxion Daily Technology	Pair Corr
0.65	ROM	ProShares Ultra Tech	Pair Corr

Moving against Defiance Etf

0.52	UDN	Invesco DB Dollar	Pair Corr
0.48	FCG	First Trust Natural	Pair Corr
0.56	KIE	SPDR SP Insurance	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.59	-0.66	0.6	-0.63	0.24	-0.12	-0.61	-0.65	META
MSFT	0.66		0.84	-0.51	0.36	-0.25	0.12	-0.27	-0.77	-0.6	MSFT
UBER	0.59	0.84		-0.62	0.58	-0.37	-0.05	-0.13	-0.84	-0.57	UBER
F	-0.66	-0.51	-0.62		-0.72	0.59	0.25	0.35	0.71	0.76	F
T	0.6	0.36	0.58	-0.72		-0.61	-0.41	-0.09	-0.55	-0.49	T
A	-0.63	-0.25	-0.37	0.59	-0.61		-0.16	-0.26	0.56	0.32	A
CRM	0.24	0.12	-0.05	0.25	-0.41	-0.16		0.29	-0.03	0.09	CRM
JPM	-0.12	-0.27	-0.13	0.35	-0.09	-0.26	0.29		0.18	0.3	JPM
MRK	-0.61	-0.77	-0.84	0.71	-0.55	0.56	-0.03	0.18		0.64	MRK
XOM	-0.65	-0.6	-0.57	0.76	-0.49	0.32	0.09	0.3	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

UBER	+ 0.84	MSFT
XOM	+ 0.76	F
MRK	+ 0.71	F
MSFT	+ 0.66	META
XOM	+ 0.64	MRK
T	+ 0.6	META

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.77	MSFT
T	- 0.72	F
F	- 0.66	META
XOM	- 0.65	META
A	- 0.63	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	1.41	(0.29)	0.00	(0.25)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.14)	0.00	(0.16)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.49	(0.34)	0.00	(0.26)	0.00	0.00	2.60	(3.82)	10.51
F	1.49	0.17	0.10	0.17	1.70	(1.62)	3.38	(2.63)	16.30
T	0.95	(0.27)	0.00	(0.91)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.08	0.06	0.13	1.31	(1.33)	2.34	(2.21)	11.03
CRM	1.58	0.06	0.03	0.11	2.05	(1.53)	3.66	(2.92)	9.91
JPM	1.03	(0.02)	(0.01)	0.04	1.40	(1.03)	2.00	(1.91)	7.02
MRK	1.47	0.35	0.25	0.47	1.11	(1.91)	4.85	(2.06)	11.45
XOM	0.96	0.07	0.02	0.36	0.99	(1.01)	1.96	(1.51)	4.99

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