ARK Correlations

ARKA Etf

68.32 0.00 0.00%

The current 90-days correlation between ARK and Invesco Short Duration is 0.09 (i.e., Significant diversification). The correlation of ARK 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.

ARK Correlation With Market

Very good diversification

The correlation between ARK and DJI is -0.28 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARK and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ARK Etf

Check out Trending Equities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving against ARK Etf

0.67	ELON	Battleshares TSLA	Pair Corr
0.51	NBCE	Neuberger Berman ETF	Pair Corr
0.49	PCEM	Litman Gregory Funds	Pair Corr
0.48	SCDV	ETF Series Solutions	Pair Corr
0.47	BCDF	Listed Funds Trust	Pair Corr
0.45	FIDU	Fidelity MSCI Industrials	Pair Corr
0.41	TAXT	Northern Trust Tax	Pair Corr
0.41	EURL	Direxion Daily FTSE	Pair Corr
0.41	IAUM	iShares Gold Trust	Pair Corr
0.38	CPST	Calamos ETF Trust	Pair Corr
0.37	BSMS	Invesco BulletShares 2028	Pair Corr
0.36	AMPD	Tidal ETF Services	Pair Corr
0.36	REGL	ProShares SP MidCap	Pair Corr
0.33	WLDR	Affinity World Leaders	Pair Corr
0.62	TERG	Leverage Shares 2X	Pair Corr
0.56	LSEQ	Harbor ETF Trust	Pair Corr
0.55	EMES	Harbor ETF Trust	Pair Corr
0.47	EWT	iShares MSCI Taiwan	Pair Corr
0.45	CHPS	Xtrackers Semiconductor	Pair Corr
0.45	EDGI	Advisors Inner	Pair Corr
0.44	CCNR	CoreCommodity Natural	Pair Corr
0.43	PFF	iShares Preferred	Pair Corr
0.39	TLCI	Touchstone ETF Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.46	0.43	0.16	-0.53	-0.1	0.33	0.48	0.43	META
MSFT	-0.41		0.8	-0.53	-0.65	0.71	0.81	0.06	-0.85	-0.91	MSFT
UBER	-0.46	0.8		-0.46	-0.48	0.78	0.53	-0.09	-0.8	-0.74	UBER
F	0.43	-0.53	-0.46		0.06	-0.41	-0.23	0.3	0.68	0.6	F
T	0.16	-0.65	-0.48	0.06		-0.39	-0.75	-0.13	0.4	0.58	T
A	-0.53	0.71	0.78	-0.41	-0.39		0.48	-0.04	-0.63	-0.78	A
CRM	-0.1	0.81	0.53	-0.23	-0.75	0.48		0.44	-0.56	-0.81	CRM
JPM	0.33	0.06	-0.09	0.3	-0.13	-0.04	0.44		0.21	-0.08	JPM
MRK	0.48	-0.85	-0.8	0.68	0.4	-0.63	-0.56	0.21		0.82	MRK
XOM	0.43	-0.91	-0.74	0.6	0.58	-0.78	-0.81	-0.08	0.82		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

XOM	+ 0.82	MRK
CRM	+ 0.81	MSFT
UBER	+ 0.8	MSFT
A	+ 0.78	UBER
A	+ 0.71	MSFT
MRK	+ 0.68	F

High negative correlations

XOM	- 0.91	MSFT
MRK	- 0.85	MSFT
XOM	- 0.81	CRM
MRK	- 0.8	UBER
XOM	- 0.78	A
CRM	- 0.75	T

ARK Competition Risk-Adjusted Indicators

There is a big difference between ARK Etf performing well and ARK 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 ARK'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	0.00	(0.02)	0.06	1.53	(1.82)	3.43	(2.82)	13.69
MSFT	1.32	(0.36)	0.00	(0.92)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.46)	0.00	(0.90)	0.00	0.00	2.41	(3.82)	11.09
F	1.22	0.07	0.05	0.14	1.20	(1.48)	3.34	(2.30)	7.16
T	1.02	0.23	0.17	3.71	0.77	(1.19)	3.87	(1.54)	5.31
A	1.27	(0.30)	0.00	(0.17)	0.00	0.00	2.90	(2.73)	7.85
CRM	1.68	(0.41)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.26	(0.15)	0.00	(0.04)	0.00	0.00	2.34	(3.11)	7.38
MRK	1.35	0.49	0.35	0.77	0.97	(1.72)	3.59	(1.98)	8.74
XOM	1.24	0.36	0.22	1.65	1.11	(1.42)	2.68	(2.12)	6.83

ARK Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ARK etf to make a market-neutral strategy. Peer analysis of ARK could also be used in its relative valuation, which is a method of valuing ARK by comparing valuation metrics with similar companies.

IShares WisdomTree First Trust JHCS JPMorgan UBS Van Eck REEM DGLD Invesco Short Duration American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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