ARK Genomic Correlations

Etfs . USA . 
Etf . ARK Genomic Revolution
ARKG Etf  USD 23.22  0.14  0.60%   
The current 90-days correlation between ARK Genomic Revolution and Global X E commerce is 0.58 (i.e., Very weak diversification). The correlation of ARK Genomic 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 Genomic Correlation With Market

Poor diversification

The correlation between ARK Genomic Revolution and DJI is 0.62 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARK Genomic Revolution and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ARK Genomic Revolution. 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

  0.65XLV Health Care SelectPairCorr
  0.7VHT Vanguard Health CarePairCorr
  0.84IBB iShares Biotechnology ETFPairCorr
  0.83XBI SPDR SP BiotechPairCorr
  0.64IXJ iShares Global HealthcarePairCorr
  0.66IYH iShares Healthcare ETFPairCorr
  0.7FHLC Fidelity MSCI HealthPairCorr
  0.75IHF iShares HealthcarePairCorr
  0.67HART IQ Healthy HeartsPairCorr

Moving against ARK Etf

  0.4EOS Eaton Vance EnhancedPairCorr
  0.32STCE Schwab Strategic TrustPairCorr
  0.31EVUS iShares ESG AwarePairCorr
  0.54TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.49DIS Walt Disney Aggressive PushPairCorr
  0.45CSCO Cisco SystemsPairCorr
  0.36HPQ HP IncPairCorr
  0.35AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.32IBM International Business Fiscal Year End 22nd of January 2025 PairCorr
  0.31JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr

Related Correlations Analysis

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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   
FINX
+ 0.97
CLOU
BUG
+ 0.89
CLOU
BUG
+ 0.86
FINX
CLOU
+ 0.68
EBIZ
FINX
+ 0.67
EBIZ
BUG
+ 0.63
EBIZ
  
High negative correlations   
FINX
- 0.71
GNOM
CLOU
- 0.63
GNOM
GNOM
- 0.48
EBIZ
BUG
- 0.41
GNOM

ARK Genomic Constituents Risk-Adjusted Indicators

There is a big difference between ARK Etf performing well and ARK Genomic 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 Genomic'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.

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