ARK Autonomous Correlations

ARKQ Etf

USD 126.22 3.41 2.78%

The current 90-days correlation between ARK Autonomous Technology and Invesco SP International is 0.67 (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

Very poor diversification

The correlation between ARK Autonomous Technology and DJI is 0.85 (i.e., Very 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 employment.

Moving together with ARK Etf

0.9	IJK	iShares SP Mid	Pair Corr
0.92	JKH	iShares Morningstar Mid	Pair Corr
0.96	KOMP	SPDR Kensho New	Pair Corr
0.9	MDYG	SPDR SP 400	Pair Corr
0.92	IMCG	iShares Morningstar Mid	Pair Corr
0.84	CPST	Calamos ETF Trust	Pair Corr
0.66	ELON	Battleshares TSLA	Pair Corr
0.88	ITDD	iShares Trust	Pair Corr
0.84	MART	Allianzim Large Cap	Pair Corr
0.94	VBK	Vanguard Small Cap	Pair Corr
0.81	GAPR	First Trust Exchange	Pair Corr
0.61	RDIV	Invesco SP Ultra	Pair Corr
0.82	SEIX	Virtus ETF Trust	Pair Corr
0.82	OASC	OneAscent Small Cap	Pair Corr
0.77	BINC	BlackRock ETF Trust	Pair Corr
0.76	AHYB	American Century ETF	Pair Corr
0.76	INTC	Intel	Pair Corr
0.91	BA	Boeing	Pair Corr
0.71	CAT	Caterpillar	Pair Corr
0.86	AA	Alcoa Corp	Pair Corr
0.61	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.69	HD	Home Depot	Pair Corr

Moving against ARK Etf

0.71	MPAY	Exchange Traded Concepts	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.45	T	ATT Inc Sell-off Trend	Pair Corr
0.39	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	JPEF	TCHP	IAI	IDU	ARKF	AOM	SPUS	DGS	RWJ	IDMO
JPEF		0.59	0.69	-0.33	-0.05	0.78	0.94	0.54	0.67	0.65	JPEF
TCHP	0.59		0.43	-0.32	0.71	0.14	0.72	-0.22	-0.03	0.05	TCHP
IAI	0.69	0.43		-0.57	-0.08	0.83	0.71	0.61	0.78	0.84	IAI
IDU	-0.33	-0.32	-0.57		0.09	-0.36	-0.29	-0.16	-0.42	-0.47	IDU
ARKF	-0.05	0.71	-0.08	0.09		-0.47	0.15	-0.66	-0.56	-0.53	ARKF
AOM	0.78	0.14	0.83	-0.36	-0.47		0.7	0.9	0.93	0.96	AOM
SPUS	0.94	0.72	0.71	-0.29	0.15	0.7		0.46	0.55	0.58	SPUS
DGS	0.54	-0.22	0.61	-0.16	-0.66	0.9	0.46		0.87	0.89	DGS
RWJ	0.67	-0.03	0.78	-0.42	-0.56	0.93	0.55	0.87		0.92	RWJ
IDMO	0.65	0.05	0.84	-0.47	-0.53	0.96	0.58	0.89	0.92		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

IDMO	+ 0.96	AOM
SPUS	+ 0.94	JPEF
RWJ	+ 0.93	AOM
IDMO	+ 0.92	RWJ
DGS	+ 0.9	AOM
IDMO	+ 0.89	DGS

High negative correlations

DGS	- 0.66	ARKF
IDU	- 0.57	IAI
RWJ	- 0.56	ARKF
IDMO	- 0.53	ARKF
AOM	- 0.47	ARKF
IDMO	- 0.47	IDU

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	0.53	(0.05)	(0.09)	0.01	0.75	(0.50)	1.02	(1.21)	3.90
TCHP	0.78	(0.16)	0.00	(0.13)	0.00	0.00	1.59	(1.83)	5.01
IAI	0.93	(0.07)	(0.03)	0.03	1.29	(0.87)	1.58	(2.37)	6.36
IDU	0.61	(0.04)	0.00	(0.07)	0.00	0.00	1.24	(1.28)	3.62
ARKF	1.62	(0.67)	0.00	(0.32)	0.00	0.00	2.72	(4.77)	9.43
AOM	0.27	0.00	(0.13)	0.08	0.29	(0.27)	0.62	(0.49)	1.71
SPUS	0.67	(0.08)	0.00	(0.02)	0.00	0.00	1.27	(1.64)	4.29
DGS	0.55	0.10	0.09	0.28	0.47	(0.63)	1.09	(1.04)	2.81
RWJ	0.95	0.11	0.13	0.17	0.76	(1.12)	2.75	(1.75)	5.47
IDMO	0.67	0.08	0.07	0.19	0.65	(0.72)	1.59	(1.17)	3.70

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