MicroSectors Solactive Correlations

BERZ Etf

USD 2.96 0.20 6.33%

The current 90-days correlation between MicroSectors Solactive and JPMorgan Fundamental Data is -0.63 (i.e., Excellent diversification). The correlation of MicroSectors Solactive 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.

MicroSectors Solactive Correlation With Market

Excellent diversification

The correlation between MicroSectors Solactive FANG and DJI is -0.61 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors Solactive FANG and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MicroSectors Etf

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

Moving together with MicroSectors Etf

0.9	SH	ProShares Short SP500	Pair Corr
0.91	PSQ	ProShares Short QQQ	Pair Corr
0.87	SPXU	ProShares UltraPro Short	Pair Corr
0.88	SDS	ProShares UltraShort	Pair Corr
0.87	SPXS	Direxion Daily SP	Pair Corr
0.95	QID	ProShares UltraShort QQQ Aggressive Push	Pair Corr
0.66	RWM	ProShares Short Russ	Pair Corr
0.9	SPDN	Direxion Daily SP	Pair Corr
0.74	TAIL	Cambria Tail Risk	Pair Corr
0.65	DOG	ProShares Short Dow30	Pair Corr

Moving against MicroSectors Etf

0.88	BST	BlackRock Science Tech	Pair Corr
0.83	TOT	Advisor Managed Port	Pair Corr
0.75	VBK	Vanguard Small Cap	Pair Corr
0.63	WTMF	WisdomTree Managed	Pair Corr
0.61	OASC	OneAscent Small Cap	Pair Corr
0.56	EWC	iShares MSCI Canada	Pair Corr
0.43	BINC	BlackRock ETF Trust	Pair Corr
0.41	ARKW	ARK Next Generation	Pair Corr
0.37	HUM	Humana Inc Earnings Call This Week	Pair Corr
0.33	OIH	VanEck Oil Services	Pair Corr
0.6	DIS	Walt Disney	Pair Corr
0.55	BA	Boeing	Pair Corr
0.53	AA	Alcoa Corp	Pair Corr
0.51	AHYB	American Century ETF	Pair Corr
0.43	INTC	Intel	Pair Corr
0.41	AXP	American Express	Pair Corr
0.36	IBM	International Business	Pair Corr
0.35	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	JOJO	INDH	EAOM	AVIE	NSCR	ESIX	IQRA	ISHP	MCDS	SCDS
JOJO		-0.41	0.94	0.91	0.67	0.91	0.83	0.22	0.93	0.91	JOJO
INDH	-0.41		-0.42	-0.46	-0.11	-0.43	-0.5	-0.1	-0.38	-0.49	INDH
EAOM	0.94	-0.42		0.83	0.84	0.92	0.78	0.42	0.96	0.93	EAOM
AVIE	0.91	-0.46	0.83		0.46	0.87	0.91	-0.07	0.84	0.86	AVIE
NSCR	0.67	-0.11	0.84	0.46		0.71	0.42	0.69	0.79	0.73	NSCR
ESIX	0.91	-0.43	0.92	0.87	0.71		0.74	0.29	0.97	0.98	ESIX
IQRA	0.83	-0.5	0.78	0.91	0.42	0.74		-0.11	0.73	0.75	IQRA
ISHP	0.22	-0.1	0.42	-0.07	0.69	0.29	-0.11		0.41	0.31	ISHP
MCDS	0.93	-0.38	0.96	0.84	0.79	0.97	0.73	0.41		0.97	MCDS
SCDS	0.91	-0.49	0.93	0.86	0.73	0.98	0.75	0.31	0.97		SCDS
	JOJO	INDH	EAOM	AVIE	NSCR	ESIX	IQRA	ISHP	MCDS	SCDS

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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

SCDS	+ 0.98	ESIX
MCDS	+ 0.97	ESIX
SCDS	+ 0.97	MCDS
MCDS	+ 0.96	EAOM
EAOM	+ 0.94	JOJO
MCDS	+ 0.93	JOJO

High negative correlations

IQRA	- 0.5	INDH
SCDS	- 0.49	INDH
AVIE	- 0.46	INDH
ESIX	- 0.43	INDH
EAOM	- 0.42	INDH
INDH	- 0.41	JOJO

MicroSectors Solactive Constituents Risk-Adjusted Indicators

There is a big difference between MicroSectors Etf performing well and MicroSectors Solactive 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 MicroSectors Solactive'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
JOJO	0.18	0.03	(0.14)	0.37	0.10	(0.24)	0.46	(0.32)	1.54
INDH	0.50	(0.04)	0.00	(0.04)	0.00	0.00	0.93	(1.10)	3.44
EAOM	0.26	0.00	(0.15)	0.07	0.27	(0.29)	0.57	(0.54)	1.57
AVIE	0.51	0.19	0.25	0.46	0.00	(0.59)	1.40	(0.75)	2.82
NSCR	0.65	(0.07)	(0.09)	0.00	0.90	(0.64)	1.31	(1.59)	3.84
ESIX	0.85	0.08	0.10	0.16	0.70	(1.06)	2.56	(1.50)	5.10
IQRA	0.43	0.07	0.04	0.26	0.34	(0.47)	0.86	(0.72)	2.42
ISHP	0.76	(0.19)	0.00	(0.14)	0.00	0.00	1.32	(1.88)	4.96
MCDS	0.64	0.03	0.04	0.12	0.61	(0.70)	1.55	(1.28)	3.68
SCDS	0.88	0.05	0.06	0.12	0.87	(0.98)	2.31	(1.79)	4.82

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