ARK Correlations

ARKY Etf

29.28 0.00 0.00%

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. If the correlation is 0, the equities are not correlated; they are entirely random.

ARK Correlation With Market

Pay attention - limited upside

The correlation between ARK and DJI is -0.77 (i.e., Pay attention - limited upside) 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 employment.

Moving together with ARK Etf

0.9	HPQ	HP Inc	Pair Corr
0.72	MSFT	Microsoft	Pair Corr

Moving against ARK Etf

0.91	MUU	Direxion Daily MU	Pair Corr
0.91	MULL	GraniteShares 2x Long	Pair Corr
0.9	KORU	Direxion Daily South	Pair Corr
0.85	SIL	Global X Silver	Pair Corr
0.85	SIVR	abrdn Physical Silver	Pair Corr
0.83	NUGT	Direxion Daily Gold	Pair Corr
0.82	JNUG	Direxion Daily Junior	Pair Corr
0.8	GDXU	MicroSectors Gold Miners	Pair Corr
0.8	SHNY	Microsectors Gold	Pair Corr
0.8	GAPR	First Trust Exchange	Pair Corr
0.77	MART	Allianzim Large Cap	Pair Corr
0.76	SEIX	Virtus ETF Trust	Pair Corr
0.75	AGQ	ProShares Ultra Silver	Pair Corr
0.75	OASC	OneAscent Small Cap	Pair Corr
0.75	VBK	Vanguard Small Cap	Pair Corr
0.7	BCDF	Listed Funds Trust	Pair Corr
0.32	SPBC	Simplify Equity PLUS	Pair Corr
0.89	BA	Boeing	Pair Corr
0.87	BINC	BlackRock ETF Trust	Pair Corr
0.85	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.85	AA	Alcoa Corp	Pair Corr
0.83	DD	Dupont De Nemours Earnings Call Tomorrow	Pair Corr
0.8	AHYB	American Century ETF	Pair Corr
0.8	CAT	Caterpillar	Pair Corr
0.75	JNJ	Johnson Johnson	Pair Corr
0.74	RDIV	Invesco SP Ultra	Pair Corr
0.74	MRK	Merck Company Aggressive Push	Pair Corr
0.71	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.6	HD	Home Depot	Pair Corr
0.39	DIS	Walt Disney	Pair Corr
0.35	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.45	-0.5	0.47	0.14	-0.57	-0.04	0.32	0.49	0.47	META
MSFT	-0.45		0.73	-0.53	-0.42	0.59	0.71	0.01	-0.8	-0.87	MSFT
UBER	-0.5	0.73		-0.48	-0.15	0.66	0.32	-0.16	-0.8	-0.63	UBER
F	0.47	-0.53	-0.48		-0.17	-0.35	-0.13	0.38	0.7	0.63	F
T	0.14	-0.42	-0.15	-0.17		-0.05	-0.6	-0.11	0.14	0.28	T
A	-0.57	0.59	0.66	-0.35	-0.05		0.26	-0.08	-0.49	-0.68	A
CRM	-0.04	0.71	0.32	-0.13	-0.6	0.26		0.5	-0.38	-0.7	CRM
JPM	0.32	0.01	-0.16	0.38	-0.11	-0.08	0.5		0.25	-0.07	JPM
MRK	0.49	-0.8	-0.8	0.7	0.14	-0.49	-0.38	0.25		0.76	MRK
XOM	0.47	-0.87	-0.63	0.63	0.28	-0.68	-0.7	-0.07	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

XOM	+ 0.76	MRK
UBER	+ 0.73	MSFT
CRM	+ 0.71	MSFT
MRK	+ 0.7	F
A	+ 0.66	UBER
XOM	+ 0.63	F

High negative correlations

XOM	- 0.87	MSFT
MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.7	CRM
XOM	- 0.68	A
XOM	- 0.63	UBER

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	1.51	0.02	(0.01)	0.11	1.55	(1.74)	3.43	(2.67)	13.69
MSFT	1.32	(0.41)	0.00	(0.89)	0.00	0.00	1.85	(2.74)	13.28
UBER	1.55	(0.47)	0.00	(0.70)	0.00	0.00	2.41	(5.06)	11.09
F	1.22	0.03	0.02	0.11	1.20	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.09	1.52	0.83	(1.06)	2.02	(1.54)	4.32
A	1.21	(0.26)	0.00	(0.14)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.71	(0.54)	0.00	(0.39)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.20	(0.04)	0.00	0.05	1.67	(1.24)	2.34	(3.11)	7.38
MRK	1.26	0.56	0.43	0.97	0.69	(1.62)	3.59	(1.93)	8.09
XOM	1.17	0.41	0.26	3.45	0.94	(1.39)	2.69	(2.11)	5.85

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 IShares TrueShares Structured Outcome USHG IShares First Trust Exchange Traded Concepts IShares Victory Capital Management AHOY American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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