Defiance ETFs Correlations
| CRUZ Etf | USD 21.88 0.00 0.00% |
The current 90-days correlation between Defiance ETFs and Harbor ETF Trust is 0.12 (i.e., Average diversification). The correlation of Defiance ETFs 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 ETFs Correlation With Market
Pay attention - limited upside
The correlation between Defiance ETFs and DJI is -0.77 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance ETFs and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with Defiance Etf
Moving against Defiance Etf
| 0.91 | AHYB | American Century ETF | PairCorr |
| 0.9 | PXMV | Invesco SP MidCap | PairCorr |
| 0.89 | ZHOG | RBB Fund Symbol Change | PairCorr |
| 0.87 | EWI | iShares MSCI Italy | PairCorr |
| 0.87 | SMMU | PIMCO Short Term | PairCorr |
| 0.79 | IGA | Voya Global Advantage | PairCorr |
| 0.78 | PEJ | Invesco Dynamic Leisure | PairCorr |
| 0.78 | ARP | Advisors Inner Circle | PairCorr |
| 0.76 | FXD | First Trust Consumer | PairCorr |
| 0.73 | XRT | SPDR SP Retail | PairCorr |
| 0.59 | SOXY | YieldMax Target 12 | PairCorr |
| 0.55 | VCR | Vanguard Consumer | PairCorr |
| 0.55 | FDIS | Fidelity MSCI Consumer | PairCorr |
| 0.54 | XLY | Consumer Discretionary | PairCorr |
| 0.51 | IYC | iShares Consumer Dis | PairCorr |
| 0.33 | XHB | SPDR SP Homebuilders | PairCorr |
| 0.92 | GSIG | Goldman Sachs Access | PairCorr |
| 0.92 | LJUL | Innovator Premium Income | PairCorr |
| 0.91 | XBI | SPDR SP Biotech Aggressive Push | PairCorr |
| 0.9 | DUSA | Davis Select Equity | PairCorr |
| 0.9 | IPKW | Invesco International | PairCorr |
| 0.89 | IXJ | iShares Global Healthcare | PairCorr |
| 0.87 | BMAY | Innovator SP 500 | PairCorr |
| 0.87 | FSMB | First Trust Short | PairCorr |
| 0.87 | ELD | WisdomTree Emerging | PairCorr |
| 0.82 | AGQ | ProShares Ultra Silver Upward Rally | PairCorr |
| 0.77 | EFIV | SPDR SP 500 | PairCorr |
| 0.76 | IJH | iShares Core SP | PairCorr |
| 0.76 | WWJD | Inspire International ESG | PairCorr |
| 0.75 | HEZU | iShares Currency Hedged | PairCorr |
| 0.75 | ACSV | American Century ETF | PairCorr |
| 0.72 | MGMT | Ballast SmallMid Cap | PairCorr |
| 0.71 | EAGL | 2023 ETF | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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Defiance ETFs Constituents Risk-Adjusted Indicators
There is a big difference between Defiance Etf performing well and Defiance ETFs 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 ETFs' 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| RESE | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FTDS | 0.67 | 0.08 | 0.09 | 0.17 | 0.54 | 2.01 | 3.67 | |||
| VMOT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| JZRO | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IPDP | 0.61 | 0.08 | 0.01 | 5.39 | 0.58 | 1.14 | 4.26 | |||
| OPPX | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| CSA | 1.07 | (0.23) | 0.00 | (0.61) | 0.00 | 1.35 | 11.89 | |||
| FOVL | 0.64 | 0.04 | (0.03) | 1.86 | 0.78 | 1.46 | 4.02 | |||
| TPHE | 0.49 | 0.03 | (0.06) | (2.36) | 0.48 | 1.23 | 2.70 | |||
| SMLL | 0.82 | (0.08) | (0.06) | 0.00 | 1.05 | 2.09 | 5.08 |
Defiance ETFs Related Equities
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Defiance ETFs etf to make a market-neutral strategy. Peer analysis of Defiance ETFs could also be used in its relative valuation, which is a method of valuing Defiance ETFs by comparing valuation metrics with similar companies.
| Risk & Return | Correlation |