Tradr 2X Correlations

ASTX Etf

66.32 10.07 17.90%

The current 90-days correlation between Tradr 2X Long and Direxion Daily META is 0.26 (i.e., Modest diversification). The correlation of Tradr 2X 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.

Tradr 2X Correlation With Market

Poor diversification

The correlation between Tradr 2X Long 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 Tradr 2X Long and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tradr Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Tradr 2X Long. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in poverty.

Moving together with Tradr Etf

0.7	FB	ProShares Trust ProShares	Pair Corr
0.67	CA	Xtrackers California	Pair Corr
0.7	PCS	PGIM Corporate Bond	Pair Corr
0.79	GSX	Tradr 2X Long	Pair Corr
0.92	SHLD	Global X Defense	Pair Corr
0.7	INFO	Harbor ETF Trust	Pair Corr
0.77	BUFF	Innovator Laddered	Pair Corr
0.85	BNDS	Series Portfolios Trust	Pair Corr
0.83	FEDM	FlexShares ESG Climate	Pair Corr
0.82	SHYM	SHYM Symbol Change	Pair Corr
0.77	GSY	Invesco Ultra Short	Pair Corr
0.77	TOCT	Innovator Equity Defined	Pair Corr
0.77	XIDV	Franklin Templeton ETF	Pair Corr
0.89	EMC	Global X Funds	Pair Corr
0.85	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.89	SPEM	SPDR Portfolio Emerging	Pair Corr
0.83	IEV	iShares Europe ETF	Pair Corr
0.86	CEFS	Saba Closed End	Pair Corr
0.65	MVPA	Advisor Managed Port	Pair Corr
0.79	SPBX	AIM ETF Products	Pair Corr
0.86	JSMD	Janus Henderson SmallMid	Pair Corr
0.86	FFND	Future Fund	Pair Corr
0.86	EFA	iShares MSCI EAFE Aggressive Push	Pair Corr
0.8	KNGZ	First Trust Exchange	Pair Corr
0.75	SCHB	Schwab Broad Market	Pair Corr
0.81	SSPY	Exchange Listed Funds	Pair Corr
0.85	HSCZ	iShares Currency Hedged	Pair Corr
0.69	LRGC	AB Active ETFs	Pair Corr
0.78	USSE	Segall Bryant Hamill	Pair Corr
0.82	BSMC	2023 EFT Series Low Volatility	Pair Corr
0.9	FPFD	Fidelity Preferred	Pair Corr
0.8	VEMY	Virtus ETF Trust	Pair Corr
0.81	DFJ	WisdomTree Japan SmallCap	Pair Corr

Moving against Tradr Etf

0.77

NFLX

Netflix

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

Tradr 2X Competition Risk-Adjusted Indicators

There is a big difference between Tradr Etf performing well and Tradr 2X 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 Tradr 2X'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

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