IncomeShares Amazon Correlations

AMZI Etf

8.25 0.01 0.12%

The current 90-days correlation between IncomeShares Amazon and Leverage Shares 3x is -0.01 (i.e., Good diversification). The correlation of IncomeShares Amazon 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.

IncomeShares Amazon Correlation With Market

Very good diversification

The correlation between IncomeShares Amazon Options and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding IncomeShares Amazon Options and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to IncomeShares Amazon could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace IncomeShares Amazon when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back IncomeShares Amazon - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling IncomeShares Amazon Options to buy it.

Moving against IncomeShares Etf

0.79	IDJP	iShares MSCI Japan	Pair Corr
0.75	OIGB	Vaneck Ucits Etfs	Pair Corr
0.74	COWZ	Pacer Cash Cows	Pair Corr
0.7	RIOL	Lyxor UCITS Brazil	Pair Corr
0.69	CLMU	Lyxor Green Bond	Pair Corr
0.68	EUCO	SPDR Barclays Euro	Pair Corr
0.67	SDG9	Xtrackers MSCI Global	Pair Corr
0.65	100H	MULTI UNITS LUXEMBOURG	Pair Corr
0.54	RMAP	Royal Mint Responsibly	Pair Corr
0.53	VFEA	Vanguard FTSE Emerging	Pair Corr
0.48	VEVE	Vanguard FTSE Developed	Pair Corr
0.42	RTWP	Legal General UCITS	Pair Corr
0.42	GILI	Lyxor Core UK	Pair Corr
0.39	3LGO	WisdomTree Gold 3x	Pair Corr
0.39	3GOL	WisdomTree Gold 3x	Pair Corr
0.32	SWDA	iShares Core MSCI	Pair Corr
0.31	3LRR	GraniteShares 3x Long	Pair Corr
0.31	CNYA	iShares MSCI China	Pair Corr
0.88	IDIN	iShares Global Infra	Pair Corr
0.84	SGQD	Lyxor SG Global	Pair Corr
0.82	FSEM	Fidelity Sustainable USD	Pair Corr
0.8	GXLE	SPDR SP Energy	Pair Corr
0.79	GOUD	Lyxor Core Global	Pair Corr
0.79	UIND	First Trust Equity	Pair Corr
0.79	MUNI	Invesco Municipal Bond	Pair Corr
0.75	MTIX	Lyxor UCITS EuroMTS	Pair Corr
0.69	3KOR	Leverage Shares 3x	Pair Corr
0.68	KOR3	Leverage Shares 3x	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

IncomeShares Amazon Competition Risk-Adjusted Indicators

There is a big difference between IncomeShares Etf performing well and IncomeShares Amazon 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 IncomeShares Amazon'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	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

Be your own money manager

Our tools can tell you how much better you can do entering a position in IncomeShares Amazon without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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