Amplify Lithium Correlations

BATT Etf

USD 9.28 0.02 0.22%

The current 90-days correlation between Amplify Lithium Battery and KraneShares Electric Vehicles is 0.85 (i.e., Very poor diversification). The correlation of Amplify Lithium 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.

Amplify Lithium Correlation With Market

Modest diversification

The correlation between Amplify Lithium Battery and DJI is 0.27 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Lithium Battery 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 Amplify Lithium Battery. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with Amplify Etf

0.97	EV	Mast Global Battery	Pair Corr
0.67	XLB	Materials Select Sector	Pair Corr
0.76	VAW	Vanguard Materials Index	Pair Corr
0.78	XME	SPDR SP Metals	Pair Corr
0.63	PHO	Invesco Water Resources	Pair Corr
0.74	FXZ	First Trust Materials	Pair Corr
0.66	FIW	First Trust Water	Pair Corr
0.8	URNM	Sprott Uranium Miners	Pair Corr
0.74	IYM	iShares Basic Materials	Pair Corr
0.61	NVDL	GraniteShares 15x Long	Pair Corr
0.61	NVDX	T Rex 2X	Pair Corr
0.61	NVDU	Direxion Daily NVDA	Pair Corr
0.64	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.74	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.75	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.77	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.89	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Moving against Amplify Etf

0.55	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.54	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.44	PG	Procter Gamble Sell-off Trend	Pair Corr
0.4	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	KARS	IDRV	HAIL	LIT	DRIV
KARS		0.77	0.74	0.97	0.84	KARS
IDRV	0.77		0.79	0.65	0.67	IDRV
HAIL	0.74	0.79		0.71	0.9	HAIL
LIT	0.97	0.65	0.71		0.86	LIT
DRIV	0.84	0.67	0.9	0.86		DRIV
	KARS	IDRV	HAIL	LIT	DRIV

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Amplify Lithium Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify Lithium 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 Amplify Lithium'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
KARS	2.04	0.24	0.05	6.38	2.35	(2.16)	5.27	(3.99)	12.72
IDRV	1.47	(0.08)	(0.06)	0.01	1.90	(1.44)	3.20	(2.99)	7.79
HAIL	1.37	(0.09)	(0.03)	0.05	1.76	(1.29)	2.52	(2.50)	7.94
LIT	2.06	0.24	0.07	0.67	2.10	(2.12)	5.90	(3.47)	11.67
DRIV	1.10	(0.06)	(0.04)	0.05	1.48	(1.10)	2.86	(2.31)	5.61

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