ARK Innovation Correlations

ARKK Etf

USD 56.21 1.44 2.63%

The current 90-days correlation between ARK Innovation ETF and iShares Dividend and is 0.62 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ARK Innovation moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ARK Innovation ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ARK Innovation Correlation With Market

Poor diversification

The correlation between ARK Innovation ETF and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARK Innovation ETF 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 Innovation ETF. 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

0.93	VOT	Vanguard Mid Cap	Pair Corr
0.95	IWP	iShares Russell Mid	Pair Corr
0.88	IJK	iShares SP Mid	Pair Corr
0.94	JKH	iShares Morningstar Mid	Pair Corr
0.93	KOMP	SPDR Kensho New	Pair Corr
0.88	MDYG	SPDR SP 400	Pair Corr
0.94	IMCG	iShares Morningstar Mid	Pair Corr
0.94	FPX	First Trust Equity	Pair Corr
0.88	IVOG	Vanguard SP Mid	Pair Corr
0.81	PULS	PGIM Ultra Short	Pair Corr
0.67	MPAY	Akros Monthly Payout	Pair Corr
0.89	BUFF	Innovator Laddered	Pair Corr
0.91	XLF	Financial Select Sector Aggressive Push	Pair Corr
0.9	PUTW	WisdomTree CBOE SP	Pair Corr
0.81	DIVB	iShares Dividend	Pair Corr
0.77	XLK	Technology Select Sector	Pair Corr
0.83	USFR	WisdomTree Floating Rate	Pair Corr
0.87	DIVG	Invesco Exchange Traded	Pair Corr
0.87	BUG	Global X Cybersecurity	Pair Corr
0.95	BTC	Grayscale Bitcoin Mini	Pair Corr
0.89	DISO	Tidal Trust II	Pair Corr
0.88	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.91	MSTY	YieldMax MSTR Option	Pair Corr

Moving against ARK Etf

0.95	BITI	ProShares Trust	Pair Corr
0.6	GREI	Goldman Sachs Future	Pair Corr

Related Correlations Analysis

	DIVB	MCSE	MDCP	EV	GK	MJ	PP	XT	METV
DIVB		-0.61	0.95	0.61	0.91	-0.57	-0.78	0.77	0.9	DIVB
MCSE	-0.61		-0.52	-0.1	-0.52	0.76	0.87	-0.08	-0.6	MCSE
MDCP	0.95	-0.52		0.59	0.9	-0.57	-0.68	0.82	0.92	MDCP
EV	0.61	-0.1	0.59		0.57	-0.11	-0.45	0.76	0.63	EV
GK	0.91	-0.52	0.9	0.57		-0.49	-0.73	0.82	0.94	GK
MJ	-0.57	0.76	-0.57	-0.11	-0.49		0.66	-0.21	-0.62	MJ
PP	-0.78	0.87	-0.68	-0.45	-0.73	0.66		-0.43	-0.79	PP
XT	0.77	-0.08	0.82	0.76	0.82	-0.21	-0.43		0.8	XT
METV	0.9	-0.6	0.92	0.63	0.94	-0.62	-0.79	0.8		METV
	DIVB	MCSE	MDCP	EV	GK	MJ	PP	XT	METV

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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

MDCP	+ 0.95	DIVB
METV	+ 0.94	GK
METV	+ 0.92	MDCP
GK	+ 0.91	DIVB
METV	+ 0.9	DIVB
GK	+ 0.9	MDCP

High negative correlations

METV	- 0.79	PP
PP	- 0.78	DIVB
PP	- 0.73	GK
PP	- 0.68	MDCP
METV	- 0.62	MJ
MCSE	- 0.61	DIVB

ARK Innovation Constituents Risk-Adjusted Indicators

There is a big difference between ARK Etf performing well and ARK Innovation 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 Innovation'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
DIVB	0.54	0.02	0.00	0.14	0.31	(0.70)	1.13	(0.81)	3.81
MCSE	0.89	(0.26)	0.00	(0.27)	0.00	0.00	1.44	(2.08)	6.65
MDCP	0.70	(0.01)	(0.01)	0.11	0.71	(0.76)	1.48	(1.13)	3.86
EV	1.38	0.13	0.03	0.57	1.56	(1.44)	3.34	(2.78)	7.99
GK	0.76	(0.01)	(0.01)	0.11	1.06	(0.77)	1.48	(1.39)	5.61
MJ	2.12	(0.25)	0.00	0.36	0.00	0.00	3.75	(3.48)	25.64
PP	0.69	(0.13)	0.00	(1.73)	0.00	0.00	1.54	(1.71)	4.03
XT	0.77	(0.06)	(0.07)	0.05	1.07	(0.73)	1.63	(1.77)	4.77
METV	0.93	0.02	0.02	0.14	0.94	(1.11)	2.02	(1.54)	5.12

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