USCF Daily Correlations

CPXR Etf

28.91 0.22 0.77%

The current 90-days correlation between USCF Daily Target and Strategy Shares is -0.03 (i.e., Good diversification). The correlation of USCF 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.

USCF Daily Correlation With Market

Poor diversification

The correlation between USCF Daily Target and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding USCF Daily Target and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with USCF Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in USCF 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 small area income & poverty estimates.

Moving together with USCF Etf

0.75	UGL	ProShares Ultra Gold	Pair Corr
0.74	DGP	DB Gold Double	Pair Corr
0.67	GDXU	MicroSectors Gold Miners	Pair Corr
0.75	SHNY	Microsectors Gold	Pair Corr
0.78	JNUG	Direxion Daily Junior	Pair Corr
0.7	NUGT	Direxion Daily Gold	Pair Corr
0.7	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.61	KORU	Direxion Daily South	Pair Corr
0.81	AHYB	American Century ETF	Pair Corr
0.71	DFIC	Dimensional International	Pair Corr
0.88	GOCT	FT Cboe Vest	Pair Corr
0.72	LGCF	Themes Cash Flow	Pair Corr
0.72	CCNR	CoreCommodity Natural	Pair Corr
0.72	FNK	First Trust Mid	Pair Corr
0.7	NRES	Xtrackers RREEF Global	Pair Corr
0.77	ILOW	AB Active ETFs	Pair Corr
0.73	VEA	Vanguard FTSE Developed	Pair Corr
0.76	ITDD	iShares Trust	Pair Corr
0.72	FTCS	First Trust Capital	Pair Corr
0.78	GBUG	Sprott Active Gold	Pair Corr
0.68	VYMI	Vanguard International	Pair Corr
0.61	FMHI	First Trust Municipal	Pair Corr
0.72	UEVM	VictoryShares Emerging	Pair Corr
0.76	COMB	GraniteShares Bloomberg	Pair Corr
0.74	ESGD	iShares ESG Aware	Pair Corr
0.81	EPU	iShares MSCI Peru	Pair Corr
0.73	IEMG	iShares Core MSCI	Pair Corr
0.83	ITA	iShares Aerospace Defense	Pair Corr
0.62	SCDV	ETF Series Solutions	Pair Corr
0.77	URA	Global X Uranium	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.1	-0.12	0.05	0.13	-0.26	-0.04	0.18	0.02	0.18	META
MSFT	-0.1		0.84	-0.64	-0.86	0.81	0.93	0.37	-0.92	-0.94	MSFT
UBER	-0.12	0.84		-0.57	-0.77	0.85	0.76	0.22	-0.82	-0.83	UBER
F	0.05	-0.64	-0.57		0.42	-0.55	-0.51	-0.1	0.72	0.67	F
T	0.13	-0.86	-0.77	0.42		-0.68	-0.85	-0.32	0.77	0.77	T
A	-0.26	0.81	0.85	-0.55	-0.68		0.69	0.28	-0.76	-0.85	A
CRM	-0.04	0.93	0.76	-0.51	-0.85	0.69		0.55	-0.84	-0.91	CRM
JPM	0.18	0.37	0.22	-0.1	-0.32	0.28	0.55		-0.2	-0.37	JPM
MRK	0.02	-0.92	-0.82	0.72	0.77	-0.76	-0.84	-0.2		0.92	MRK
XOM	0.18	-0.94	-0.83	0.67	0.77	-0.85	-0.91	-0.37	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	+ 0.81	MSFT
MRK	+ 0.77	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.92	MSFT
XOM	- 0.91	CRM
T	- 0.86	MSFT
XOM	- 0.85	A
CRM	- 0.85	T

USCF Daily Competition Risk-Adjusted Indicators

There is a big difference between USCF Etf performing well and USCF 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 USCF 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
META	1.50	0.05	0.02	0.13	1.55	(1.67)	3.43	(2.81)	13.69
MSFT	1.34	(0.29)	0.00	(0.49)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.57	(0.17)	0.00	(0.27)	0.00	0.00	2.70	(3.82)	11.09
F	1.27	0.00	0.00	0.07	1.37	(1.52)	3.61	(2.30)	7.50
T	1.03	0.17	0.07	(0.78)	0.94	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.46)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.82	(0.31)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.28	(0.11)	(0.03)	0.01	1.84	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.27	0.16	0.59	1.18	(1.39)	2.81	(2.06)	8.74
XOM	1.31	0.44	0.25	10.44	1.07	(1.56)	2.90	(2.44)	6.83

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