ARK Correlations

Etfs . USA . 
Etf . ARK
ARKY Etf   29.28  0.00  0.00%   
The current 90-days correlation between ARK and ARK is 0.1 (i.e., Average diversification). 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

Significant diversification

The correlation between ARK and DJI is 0.03 (i.e., Significant diversification) 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 bureau of economic analysis.

Moving together with ARK Etf

  0.83GBTC Grayscale Bitcoin TrustPairCorr
  0.84BITO ProShares BitcoinPairCorr
  0.83BTC Grayscale Bitcoin MiniPairCorr
  0.78BTF Valkyrie Bitcoin StrategyPairCorr

Moving against ARK Etf

  0.89FROG JfrogPairCorr
  0.81FSST Fidelity SustainabilityPairCorr
  0.77SIXS 6 Meridian SmallPairCorr
  0.76FTBI First Trust ExchangePairCorr
  0.76GBUG Sprott Active GoldPairCorr
  0.76JNK SPDR Bloomberg HighPairCorr
  0.72CPST Calamos ETF TrustPairCorr
  0.71SIL Global X SilverPairCorr
  0.66AMPD Tidal ETF ServicesPairCorr
  0.66FJUL FT Cboe VestPairCorr
  0.62FSMD Fidelity Small MidPairCorr
  0.6HEZU iShares Currency HedgedPairCorr
  0.57SFTY Horizon Funds HorizonPairCorr
  0.52ITWO Proshares Russell 2000PairCorr
  0.51ITDD iShares TrustPairCorr
  0.51MYCL SPDR SSGA My2032PairCorr
  0.49LEGR First Trust IndxxPairCorr
  0.4MMID MFS Active ExchangePairCorr
  0.35SAWS AAM Sawgrass SmallPairCorr
  0.35USCL iShares Climate ConsciousPairCorr
  0.33ESGB IndexIQ Active ETFPairCorr
  0.89CLOX Series Portfolios TrustPairCorr
  0.86CANC Tema Oncology ETFPairCorr
  0.86ZJAN Innovator Equity DefinedPairCorr
  0.81APRT AllianzIM Large CapPairCorr
  0.76CPER United States Copper Buyout TrendPairCorr
  0.76AJUL Innovator Equity DefinedPairCorr
  0.75FVAL Fidelity Value FactorPairCorr
  0.73HYD VanEck High YieldPairCorr
  0.72AVUV Avantis Small CapPairCorr
  0.71EQRR ProShares Equities forPairCorr

Related Correlations Analysis


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

UBER
+ 0.84
MSFT
XOM
+ 0.75
F
XOM
+ 0.68
MRK
MSFT
+ 0.67
META
MRK
+ 0.67
F
T
+ 0.56
UBER
  

High negative correlations

MRK
- 0.85
UBER
MRK
- 0.78
MSFT
T
- 0.68
F
XOM
- 0.62
UBER
XOM
- 0.61
MSFT
F
- 0.6
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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.37 (0.25) 0.00 (0.19) 0.00 
 0.00 
 2.30 
(2.72)
 13.52 
MSFT  0.89 (0.11) 0.00 (0.10) 0.00 
 0.00 
 1.78 
(2.50)
 5.08 
UBER  1.47 (0.34) 0.00 (0.25) 0.00 
 0.00 
 2.60 
(3.82)
 10.51 
F  1.51  0.13  0.08  0.16  1.68 
(1.65)
 3.38 
(2.63)
 16.30 
T  0.96 (0.21) 0.00 (0.71) 0.00 
 0.00 
 1.61 
(2.18)
 5.75 
A  1.20  0.11  0.09  0.18  1.20 
(1.33)
 2.34 
(2.21)
 11.03 
CRM  1.51  0.09  0.04  0.16  1.93 
(1.48)
 3.66 
(2.92)
 9.91 
JPM  1.07 (0.04)(0.01) 0.04  1.41 
(1.10)
 2.00 
(1.91)
 7.02 
MRK  1.41  0.44  0.32  0.61  0.96 
(1.80)
 4.85 
(1.98)
 11.45 
XOM  0.94  0.06  0.00  0.31  0.98 
(1.02)
 1.96 
(1.51)
 4.99 

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.
 Risk & Return  Correlation
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