Leverage Shares Correlations

AVGG Etf

USD 22.10 0.36 1.60%

The current 90-days correlation between Leverage Shares 2X and SPDR SP International is 0.35 (i.e., Weak diversification). The correlation of Leverage Shares 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.

Leverage Shares Correlation With Market

Excellent diversification

The correlation between Leverage Shares 2X and DJI is -0.65 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leverage Shares 2X and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Leverage OTC BB Equity

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

Moving together with Leverage OTC BB Equity

0.71

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Moving against Leverage OTC BB Equity

0.72	CPST	Calamos ETF Trust	Pair Corr
0.69	CFA	VictoryShares 500	Pair Corr
0.59	ITWO	Proshares Russell 2000	Pair Corr
0.54	ELON	Battleshares TSLA	Pair Corr
0.5	AMPD	Tidal ETF Services	Pair Corr
0.48	IGEB	iShares Edge Investment	Pair Corr
0.46	NRGU	Bank of Montreal	Pair Corr
0.35	LABU	Direxion Daily SP	Pair Corr
0.32	GUSH	Direxion Daily SP	Pair Corr
0.79	GPGCX	Grandeur Peak Global	Pair Corr
0.74	DFE	WisdomTree Europe	Pair Corr
0.73	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.72	STXV	EA Series Trust	Pair Corr
0.72	ESGD	iShares ESG Aware	Pair Corr
0.72	VYMI	Vanguard International	Pair Corr
0.71	EAFG	Pacer Funds Trust	Pair Corr
0.71	TAXT	Northern Trust Tax	Pair Corr
0.71	CCNR	CoreCommodity Natural	Pair Corr
0.7	HEEM	iShares Currency Hedged	Pair Corr
0.7	DVYE	iShares Emerging Markets	Pair Corr
0.68	SPDV	AAM SP 500	Pair Corr
0.67	DXJ	WisdomTree Japan Hedged	Pair Corr
0.59	ERET	iShares Environmentally	Pair Corr
0.59	LALT	Invesco Multi Strategy	Pair Corr
0.37	BDEC	Innovator SP 500	Pair Corr
0.74	ILOW	AB Active ETFs	Pair Corr
0.72	DFIC	Dimensional International	Pair Corr
0.72	FNK	First Trust Mid	Pair Corr
0.7	MEXX	Direxion Daily MSCI	Pair Corr
0.69	IJS	iShares SP Small	Pair Corr
0.69	NAPR	Innovator Nasdaq 100	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		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	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

Leverage Shares Competition Risk-Adjusted Indicators

There is a big difference between Leverage OTC BB Equity performing well and Leverage Shares Company 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 Leverage Shares' 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	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

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