ARK Autonomous Correlations

ARKQ Etf

USD 122.70 1.86 1.54%

The current 90-days correlation between ARK Autonomous Technology and Invesco SP International is 0.6 (i.e., Poor diversification). The correlation of ARK Autonomous 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ARK Autonomous Correlation With Market

Poor diversification

The correlation between ARK Autonomous Technology and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ARK Autonomous Technology 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, which includes a position in ARK Autonomous Technology. 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

0.72	IJK	iShares SP Mid	Pair Corr
0.72	JKH	iShares Morningstar Mid	Pair Corr
0.87	KOMP	SPDR Kensho New	Pair Corr
0.72	MDYG	SPDR SP 400	Pair Corr
0.81	IMCG	iShares Morningstar Mid	Pair Corr
0.76	FB	ProShares Trust ProShares	Pair Corr
0.81	TOT	Advisor Managed Port	Pair Corr
0.76	GSX	Tradr 2X Long	Pair Corr
0.65	FNK	First Trust Mid	Pair Corr
0.65	CFA	VictoryShares 500	Pair Corr
0.76	URA	Global X Uranium	Pair Corr
0.79	GMAY	First Trust Exchange	Pair Corr
0.77	DIA	SPDR Dow Jones	Pair Corr
0.67	FNDA	Schwab Fundamental Small	Pair Corr
0.66	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.93	VXF	Vanguard Extended Market	Pair Corr
0.61	DWM	WisdomTree International	Pair Corr
0.64	GLD	SPDR Gold Shares	Pair Corr
0.67	HEFA	iShares Currency Hedged	Pair Corr
0.69	SLYV	SPDR SP 600	Pair Corr
0.67	VSS	Vanguard FTSE All	Pair Corr
0.7	UEVM	VictoryShares Emerging	Pair Corr

Moving against ARK Etf

0.71	VXX	iPath Series B Low Volatility	Pair Corr
0.48	IND	Xtrackers Nifty 500	Pair Corr

Related Correlations Analysis

	JPEF	TCHP	IAI	IDU	ARKF	AOM	SPUS	DGS	RWJ	IDMO
JPEF		-0.09	-0.07	0.34	-0.3	0.59	0.79	0.5	0.33	0.48	JPEF
TCHP	-0.09		0.71	-0.82	0.95	-0.72	0.37	-0.81	-0.74	-0.69	TCHP
IAI	-0.07	0.71		-0.73	0.65	-0.29	0.33	-0.39	-0.22	-0.18	IAI
IDU	0.34	-0.82	-0.73		-0.76	0.71	-0.09	0.74	0.5	0.59	IDU
ARKF	-0.3	0.95	0.65	-0.76		-0.83	0.15	-0.9	-0.82	-0.8	ARKF
AOM	0.59	-0.72	-0.29	0.71	-0.83		0.27	0.97	0.86	0.96	AOM
SPUS	0.79	0.37	0.33	-0.09	0.15	0.27		0.16	0.06	0.2	SPUS
DGS	0.5	-0.81	-0.39	0.74	-0.9	0.97	0.16		0.89	0.94	DGS
RWJ	0.33	-0.74	-0.22	0.5	-0.82	0.86	0.06	0.89		0.87	RWJ
IDMO	0.48	-0.69	-0.18	0.59	-0.8	0.96	0.2	0.94	0.87		IDMO
	JPEF	TCHP	IAI	IDU	ARKF	AOM	SPUS	DGS	RWJ	IDMO

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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

DGS	+ 0.97	AOM
IDMO	+ 0.96	AOM
ARKF	+ 0.95	TCHP
IDMO	+ 0.94	DGS
RWJ	+ 0.89	DGS
IDMO	+ 0.87	RWJ

High negative correlations

DGS	- 0.9	ARKF
AOM	- 0.83	ARKF
RWJ	- 0.82	ARKF
IDU	- 0.82	TCHP
DGS	- 0.81	TCHP
IDMO	- 0.8	ARKF

ARK Autonomous Constituents Risk-Adjusted Indicators

There is a big difference between ARK Etf performing well and ARK Autonomous 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 Autonomous' 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
JPEF	0.47	(0.02)	(0.04)	0.01	0.69	(0.44)	0.88	(1.00)	2.96
TCHP	0.74	(0.11)	0.00	(0.12)	0.00	0.00	1.09	(1.82)	4.08
IAI	1.09	(0.05)	(0.02)	0.00	1.59	(1.03)	2.16	(2.81)	6.84
IDU	0.71	0.08	0.05	0.56	0.82	(0.76)	1.25	(1.30)	4.18
ARKF	1.65	(0.29)	0.00	(0.14)	0.00	0.00	3.74	(4.16)	9.56
AOM	0.25	0.02	(0.02)	0.09	0.27	(0.25)	0.51	(0.46)	1.71
SPUS	0.60	(0.04)	0.00	(0.02)	0.00	0.00	1.00	(1.63)	4.43
DGS	0.61	0.12	0.10	0.24	0.78	(0.67)	1.30	(0.92)	5.36
RWJ	0.80	0.11	0.08	(0.84)	0.76	(0.96)	2.07	(1.56)	5.66
IDMO	0.70	0.11	0.10	0.18	0.82	(0.78)	1.71	(1.37)	5.37

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