ARK Correlations

ARKC Etf

132.15 1.45 1.09%

The current 90-days correlation between ARK and ARK is 0.1 (i.e., Average 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

Good diversification

The correlation between ARK and DJI is -0.13 (i.e., 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 state.

Moving together with ARK Etf

0.74	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.74	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.74	BTC	Grayscale Bitcoin Mini	Pair Corr
0.69	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.73	MSFT	Microsoft	Pair Corr
0.76	HPQ	HP Inc	Pair Corr

Moving against ARK Etf

0.77	XTAP	Innovator Equity Acc	Pair Corr
0.75	XTJA	Innovator ETFs Trust	Pair Corr
0.72	QTAP	Innovator Growth 100	Pair Corr
0.69	QTJA	Innovator ETFs Trust	Pair Corr
0.57	XTOC	Innovator ETFs Trust	Pair Corr
0.56	JPM	JPMorgan Chase	Pair Corr
0.51	AXP	American Express	Pair Corr
0.5	KO	Coca Cola	Pair Corr
0.47	LEGR	First Trust Indxx	Pair Corr
0.4	QTOC	Innovator ETFs Trust	Pair Corr
0.81	TRV	The Travelers Companies	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.68	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.66	MCD	McDonalds	Pair Corr
0.66	DD	Dupont De Nemours	Pair Corr
0.64	BAC	Bank of America	Pair Corr
0.49	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.45	-0.54	0.38	-0.39	0.24	-0.23	-0.42	-0.58	META
MSFT	0.67		0.85	-0.54	0.42	-0.07	-0.02	-0.42	-0.81	-0.64	MSFT
UBER	0.45	0.85		-0.58	0.52	0.09	-0.25	-0.47	-0.85	-0.67	UBER
F	-0.54	-0.54	-0.58		-0.64	0.28	0.34	0.54	0.63	0.77	F
T	0.38	0.42	0.52	-0.64		0.03	-0.63	-0.47	-0.38	-0.58	T
A	-0.39	-0.07	0.09	0.28	0.03		-0.42	-0.34	0.02	0.04	A
CRM	0.24	-0.02	-0.25	0.34	-0.63	-0.42		0.49	0.2	0.3	CRM
JPM	-0.23	-0.42	-0.47	0.54	-0.47	-0.34	0.49		0.57	0.56	JPM
MRK	-0.42	-0.81	-0.85	0.63	-0.38	0.02	0.2	0.57		0.76	MRK
XOM	-0.58	-0.64	-0.67	0.77	-0.58	0.04	0.3	0.56	0.76		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	+ 0.85	MSFT
XOM	+ 0.77	F
XOM	+ 0.76	MRK
MSFT	+ 0.67	META
MRK	+ 0.63	F
MRK	+ 0.57	JPM

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.81	MSFT
XOM	- 0.67	UBER
T	- 0.64	F
XOM	- 0.64	MSFT
CRM	- 0.63	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	1.39	(0.22)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.17)	0.00	(0.25)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.45	(0.30)	0.00	(0.23)	0.00	0.00	2.60	(3.82)	10.51
F	1.48	0.12	0.08	0.14	1.67	(1.63)	3.38	(2.63)	16.30
T	0.96	(0.21)	0.00	(0.86)	0.00	0.00	1.61	(2.18)	5.75
A	1.17	0.05	0.04	0.10	1.25	(1.28)	2.12	(2.21)	11.03
CRM	1.51	0.06	0.03	0.13	1.97	(1.51)	3.66	(2.92)	9.91
JPM	1.08	(0.02)	0.00	0.04	1.41	(1.11)	2.00	(1.91)	7.02
MRK	1.32	0.33	0.25	0.46	1.03	(1.70)	3.84	(1.98)	11.45
XOM	0.91	0.12	0.08	0.52	0.82	(1.01)	1.96	(1.41)	4.99

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.

ARK CHIU Global X Element ETFs RYZZ Capital Management Toroso Investments Amplify FIVR Advocate Capital Management Reality Shares American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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