Defiance Daily Correlations

AVGX Etf

27.65 1.34 5.09%

The current 90-days correlation between Defiance Daily Target and Vanguard Total Stock is 0.47 (i.e., Very weak diversification). The correlation of Defiance Daily 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.

Defiance Daily Correlation With Market

Significant diversification

The correlation between Defiance Daily Target and DJI is 0.04 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Daily Target and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Defiance Etf

0.77	DSJA	DSJA	Pair Corr
0.76	RSPY	Tuttle Capital Management	Pair Corr
0.69	MEME	Roundhill Investments	Pair Corr
0.84	BA	Boeing	Pair Corr

Moving against Defiance Etf

0.56	VTV	Vanguard Value Index	Pair Corr
0.55	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.45	VEA	Vanguard FTSE Developed	Pair Corr
0.44	PMBS	PIMCO Mortgage Backed Sell-off Trend	Pair Corr
0.42	VWO	Vanguard FTSE Emerging	Pair Corr
0.35	VO	Vanguard Mid Cap	Pair Corr
0.84	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.78	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.67	INTC	Intel	Pair Corr
0.51	PG	Procter Gamble	Pair Corr
0.5	KO	Coca Cola Earnings Call This Week	Pair Corr
0.38	HD	Home Depot	Pair Corr

Related Correlations Analysis

	VTI	SPY	IVV	BND	VTV	VUG	VO	VEA	VB	VWO
VTI		0.99	0.99	0.37	0.6	0.84	0.83	0.26	0.86	-0.06	VTI
SPY	0.99		1.0	0.32	0.54	0.87	0.78	0.25	0.81	-0.06	SPY
IVV	0.99	1.0		0.33	0.54	0.87	0.78	0.25	0.81	-0.06	IVV
BND	0.37	0.32	0.33		0.52	0.09	0.55	0.65	0.53	0.63	BND
VTV	0.6	0.54	0.54	0.52		0.06	0.91	0.61	0.85	0.24	VTV
VUG	0.84	0.87	0.87	0.09	0.06		0.41	-0.07	0.48	-0.24	VUG
VO	0.83	0.78	0.78	0.55	0.91	0.41		0.45	0.98	0.09	VO
VEA	0.26	0.25	0.25	0.65	0.61	-0.07	0.45		0.37	0.7	VEA
VB	0.86	0.81	0.81	0.53	0.85	0.48	0.98	0.37		0.06	VB
VWO	-0.06	-0.06	-0.06	0.63	0.24	-0.24	0.09	0.7	0.06		VWO
	VTI	SPY	IVV	BND	VTV	VUG	VO	VEA	VB	VWO

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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

IVV	+ 1.0	SPY
SPY	+ 0.99	VTI
IVV	+ 0.99	VTI
VB	+ 0.98	VO
VO	+ 0.91	VTV
VUG	+ 0.87	SPY

High negative correlations

VWO	- 0.24	VUG
VEA	- 0.07	VUG
VWO	- 0.06	IVV
VWO	- 0.06	SPY
VWO	- 0.06	VTI

Defiance Daily Constituents Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Daily 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 Defiance Daily'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
VTI	0.63	0.04	(0.02)	0.20	0.86	(0.64)	1.27	(1.39)	5.89
SPY	0.61	0.03	(0.03)	0.18	0.86	(0.58)	1.21	(1.41)	5.47
IVV	0.60	0.03	(0.03)	0.18	0.87	(0.60)	1.21	(1.39)	5.42
BND	0.24	(0.01)	0.00	(2.61)	0.00	0.00	0.53	(0.52)	1.69
VTV	0.58	(0.01)	(0.09)	0.07	0.66	(0.65)	1.17	(0.84)	5.21
VUG	0.87	0.08	0.01	0.32	1.15	(0.89)	1.67	(2.04)	5.83
VO	0.63	0.03	(0.03)	0.15	0.75	(0.72)	1.37	(1.06)	6.01
VEA	0.55	(0.02)	(0.11)	0.03	0.73	(0.60)	1.20	(1.32)	3.99
VB	0.79	0.05	0.00	0.18	0.99	(0.80)	1.60	(1.19)	8.20
VWO	0.64	(0.08)	0.00	(0.13)	0.00	0.00	1.45	(1.74)	4.74

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