ARK Correlations

ARKC Etf

132.15 1.45 1.09%

The current 90-days correlation between ARK and Listed Funds Trust is 0.06 (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

Pay attention - limited upside

The correlation between ARK and DJI is -0.74 (i.e., Pay attention - limited upside) 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 together with ARK Etf

0.64

MPAY

Exchange Traded Concepts

Pair Corr

Moving against ARK Etf

0.9	PCEM	Litman Gregory Funds	Pair Corr
0.88	NBCE	Neuberger Berman ETF	Pair Corr
0.87	TAXT	Northern Trust Tax	Pair Corr
0.87	BSMS	Invesco BulletShares 2028	Pair Corr
0.87	FIDU	Fidelity MSCI Industrials	Pair Corr
0.85	EURL	Direxion Daily FTSE	Pair Corr
0.84	SCDV	ETF Series Solutions	Pair Corr
0.81	WLDR	Affinity World Leaders	Pair Corr
0.8	IQSZ	Invesco Actively Managed	Pair Corr
0.79	REGL	ProShares SP MidCap	Pair Corr
0.79	XFIX	Fm Investments Symbol Change	Pair Corr
0.77	SPVM	Invesco SP 500	Pair Corr
0.76	IAUM	iShares Gold Trust	Pair Corr
0.74	NCPB	Nuveen Core Plus	Pair Corr
0.72	CPST	Calamos ETF Trust	Pair Corr
0.72	UMAY	Innovator ETFs Trust	Pair Corr
0.71	XAUG	FT Cboe Vest	Pair Corr
0.7	SIXJ	AIM ETF Products	Pair Corr
0.68	AMPD	Tidal ETF Services	Pair Corr
0.68	WDNA	WisdomTree BioRevolution	Pair Corr
0.65	ITWO	Proshares Russell 2000	Pair Corr
0.64	ELON	Battleshares TSLA	Pair Corr
0.58	BCDF	Listed Funds Trust	Pair Corr
0.49	GOOX	Etf Opportunities Trust	Pair Corr
0.32	FHLC	Fidelity MSCI Health	Pair Corr
0.93	EMES	Harbor ETF Trust	Pair Corr
0.88	EWT	iShares MSCI Taiwan	Pair Corr
0.87	CHPS	Xtrackers Semiconductor	Pair Corr
0.87	EDGI	Advisors Inner	Pair Corr
0.86	CCNR	CoreCommodity Natural	Pair Corr
0.86	LVHI	Franklin International	Pair Corr
0.85	LSEQ	Harbor ETF Trust	Pair Corr
0.84	GENW	Spinnaker ETF Series	Pair Corr
0.84	FNDC	Schwab Fundamental	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.

Grayscale Bitcoin Trust Simplify Equity PLUS Grayscale Bitcoin Mini Listed Funds Trust American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp The Home Depot International Business Machines Intel

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