ARK Correlations

ARKZ Etf

44.50 0.00 0.00%

The current 90-days correlation between ARK and Simplify Equity PLUS is -0.01 (i.e., Good 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

Poor diversification

The correlation between ARK and DJI is 0.78 (i.e., Poor 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 industry.

Moving together with ARK Etf

0.64	BCDF	Listed Funds Trust	Pair Corr
0.81	ITWO	Proshares Russell 2000	Pair Corr
0.63	ELON	Battleshares TSLA Upward Rally	Pair Corr
0.9	CPST	Calamos ETF Trust	Pair Corr
0.8	FEM	First Trust Emerging	Pair Corr
0.81	HEEM	iShares Currency Hedged	Pair Corr
0.77	UEVM	VictoryShares Emerging	Pair Corr
0.85	HCMAX	THE HILLMAN FUND	Pair Corr
0.71	FMHI	First Trust Municipal	Pair Corr
0.74	DXJ	WisdomTree Japan Hedged	Pair Corr
0.88	QTAP	Innovator Growth 100	Pair Corr
0.84	EAFG	Pacer Funds Trust	Pair Corr
0.67	LALT	Invesco Multi Strategy	Pair Corr
0.66	SEA	US Global Sea	Pair Corr
0.74	SCDV	ETF Series Solutions	Pair Corr
0.81	CVMC	Morgan Stanley ETF	Pair Corr
0.79	CFA	VictoryShares 500	Pair Corr
0.79	DFIV	Dimensional International	Pair Corr
0.81	ESGD	iShares ESG Aware	Pair Corr
0.8	IAU	iShares Gold Trust	Pair Corr
0.79	GOCT	FT Cboe Vest	Pair Corr
0.89	EPU	iShares MSCI Peru	Pair Corr
0.8	AVMC	American Century ETF	Pair Corr
0.81	EFA	iShares MSCI EAFE	Pair Corr
0.87	RSST	Return Stacked Stocks	Pair Corr
0.85	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.76	AVUV	Avantis Small Cap	Pair Corr
0.62	LGCF	Themes Cash Flow	Pair Corr

Moving against ARK Etf

0.71	MPAY	Exchange Traded Concepts	Pair Corr
0.48	BTF	CoinShares Bitcoin and	Pair Corr
0.46	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.46	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.42	BTC	Grayscale Bitcoin Mini	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.09	-0.11	-0.05	0.14	-0.2	-0.05	0.11	-0.01	0.15	META
MSFT	-0.09		0.84	-0.59	-0.87	0.84	0.94	0.44	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.54	-0.77	0.87	0.77	0.27	-0.82	-0.83	UBER
F	-0.05	-0.59	-0.54		0.35	-0.46	-0.5	-0.19	0.64	0.59	F
T	0.14	-0.87	-0.77	0.35		-0.76	-0.85	-0.37	0.79	0.8	T
A	-0.2	0.84	0.87	-0.46	-0.76		0.75	0.44	-0.77	-0.86	A
CRM	-0.05	0.94	0.77	-0.5	-0.85	0.75		0.58	-0.86	-0.93	CRM
JPM	0.11	0.44	0.27	-0.19	-0.37	0.44	0.58		-0.29	-0.47	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.77	-0.86	-0.29		0.93	MRK
XOM	0.15	-0.95	-0.83	0.59	0.8	-0.86	-0.93	-0.47	0.93		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

CRM	+ 0.94	MSFT
XOM	+ 0.93	MRK
A	+ 0.87	UBER
UBER	+ 0.84	MSFT
A	+ 0.84	MSFT
XOM	+ 0.8	T

High negative correlations

XOM	- 0.95	MSFT
XOM	- 0.93	CRM
MRK	- 0.92	MSFT
T	- 0.87	MSFT
MRK	- 0.86	CRM
XOM	- 0.86	A

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	1.47	0.07	0.03	0.12	1.58	(1.57)	2.38	(2.81)	13.69
MSFT	1.33	(0.28)	0.00	(0.60)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.55	(0.17)	0.00	(0.34)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.03)	0.00	1.61	0.00	0.00	3.61	(2.59)	9.82
T	1.07	0.20	0.14	(0.72)	0.94	(1.26)	3.87	(1.76)	7.44
A	1.22	(0.40)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.78	(0.27)	0.00	(0.21)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.25	(0.09)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	8.17
MRK	1.20	0.21	0.13	0.55	1.27	(1.26)	2.54	(2.06)	7.10
XOM	1.34	0.41	0.26	3.02	1.14	(1.59)	2.90	(2.44)	6.83

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.

Grayscale Bitcoin Trust Simplify Equity PLUS American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp Chevron Corp The Home Depot International Business Machines Intel MetLife ATT Inc

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Correlation

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