USCF Daily Correlations

CPXR Etf

27.92 1.30 4.88%

The current 90-days correlation between USCF Daily Target and Strategy Shares is 0.28 (i.e., Modest 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

Very poor diversification

The correlation between USCF Daily Target and DJI is 0.86 (i.e., Very 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 median.

Moving together with USCF Etf

0.75	AGQ	ProShares Ultra Silver Upward Rally	Pair Corr
0.78	UGL	ProShares Ultra Gold	Pair Corr
0.79	DGP	DB Gold Double	Pair Corr
0.79	GDXU	MicroSectors Gold Miners Trending	Pair Corr
0.75	SHNY	Microsectors Gold Trending	Pair Corr
0.86	DFEN	Direxion Daily Aerospace	Pair Corr
0.83	NUGT	Direxion Daily Gold	Pair Corr
0.66	DIG	ProShares Ultra Oil	Pair Corr
0.8	URNM	Sprott Uranium Miners	Pair Corr
0.92	AHYB	American Century ETF	Pair Corr
0.73	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.82	MRK	Merck Company Aggressive Push	Pair Corr
0.91	BA	Boeing	Pair Corr
0.72	INTC	Intel	Pair Corr

Moving against USCF Etf

0.82	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.62	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.47	-0.53	0.48	0.17	-0.58	-0.07	0.21	0.51	0.49	META
MSFT	-0.47		0.74	-0.51	-0.47	0.62	0.73	0.06	-0.81	-0.88	MSFT
UBER	-0.53	0.74		-0.46	-0.21	0.71	0.35	-0.11	-0.79	-0.66	UBER
F	0.48	-0.51	-0.46		-0.15	-0.35	-0.13	0.34	0.68	0.6	F
T	0.17	-0.47	-0.21	-0.15		-0.12	-0.64	-0.17	0.18	0.35	T
A	-0.58	0.62	0.71	-0.35	-0.12		0.31	-0.09	-0.53	-0.71	A
CRM	-0.07	0.73	0.35	-0.13	-0.64	0.31		0.49	-0.4	-0.73	CRM
JPM	0.21	0.06	-0.11	0.34	-0.17	-0.09	0.49		0.23	-0.07	JPM
MRK	0.51	-0.81	-0.79	0.68	0.18	-0.53	-0.4	0.23		0.77	MRK
XOM	0.49	-0.88	-0.66	0.6	0.35	-0.71	-0.73	-0.07	0.77		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

XOM	+ 0.77	MRK
UBER	+ 0.74	MSFT
CRM	+ 0.73	MSFT
A	+ 0.71	UBER
MRK	+ 0.68	F
A	+ 0.62	MSFT

High negative correlations

XOM	- 0.88	MSFT
MRK	- 0.81	MSFT
MRK	- 0.79	UBER
XOM	- 0.73	CRM
XOM	- 0.71	A
XOM	- 0.66	UBER

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	1.52	0.08	0.03	0.22	1.50	(1.76)	3.43	(2.67)	13.69
MSFT	1.36	(0.35)	0.00	(0.76)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.48	(0.41)	0.00	(0.68)	0.00	0.00	2.41	(3.82)	11.09
F	1.21	0.03	0.02	0.12	1.19	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.08	1.67	0.82	(1.06)	2.02	(1.54)	5.31
A	1.21	(0.31)	0.00	(0.16)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.68	(0.49)	0.00	(0.35)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.20	0.10	(0.01)	(0.27)	1.67	(1.24)	2.34	(3.11)	7.38
MRK	1.31	0.47	0.32	0.81	0.99	(1.62)	3.59	(1.98)	8.09
XOM	1.18	0.43	0.27	3.64	0.93	(1.41)	2.69	(2.11)	5.85

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