Defiance Hotel Correlations

CRUZ Etf

USD 27.78 0.00 0.00%

The current 90-days correlation between Defiance Hotel Airline and iShares Dividend and is 0.61 (i.e., Poor diversification). The correlation of Defiance Hotel 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 Hotel Correlation With Market

Average diversification

The correlation between Defiance Hotel Airline and DJI is 0.14 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Hotel Airline 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 Defiance Hotel Airline. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Defiance Etf

0.92	XLY	Consumer Discretionary	Pair Corr
0.93	VCR	Vanguard Consumer	Pair Corr
0.89	FDIS	Fidelity MSCI Consumer	Pair Corr
0.96	IYC	iShares Consumer Dis	Pair Corr
0.93	PEJ	Invesco Dynamic Leisure	Pair Corr
0.88	FXD	First Trust Consumer	Pair Corr
0.83	XRT	SPDR SP Retail	Pair Corr
0.87	BITX	Volatility Shares Trust	Pair Corr
0.74	TSLL	Direxion Shares ETF	Pair Corr
0.74	TSLR	GraniteShares 175x Long	Pair Corr
0.61	VCAR	Simplify Volt RoboCar Symbol Change	Pair Corr
0.74	TSLT	T REX 2X	Pair Corr
0.89	BTCO	Invesco Galaxy Bitcoin	Pair Corr
0.63	QQEW	First Trust NASDAQ	Pair Corr
0.9	WMT	Walmart Aggressive Push	Pair Corr
0.8	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.75	BAC	Bank of America	Pair Corr
0.87	AXP	American Express	Pair Corr
0.78	JPM	JPMorgan Chase	Pair Corr

Moving against Defiance Etf

0.39	NVDL	GraniteShares 15x Long	Pair Corr
0.31	RCD	Invesco SP 500	Pair Corr
0.62	JNJ	Johnson Johnson	Pair Corr
0.53	KO	Coca Cola Earnings Call This Week	Pair Corr
0.51	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.4	MRK	Merck Company Earnings Call This Week	Pair Corr
0.36	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DIVB	MCSE	MDCP	EV	GK	MJ	PP	METV	DMAT
DIVB		0.27	0.88	0.36	0.53	0.05	0.58	0.14	0.46	DIVB
MCSE	0.27		0.26	0.45	0.03	0.43	0.45	-0.1	0.48	MCSE
MDCP	0.88	0.26		0.66	0.37	0.37	0.66	-0.16	0.75	MDCP
EV	0.36	0.45	0.66		0.17	0.62	0.69	-0.28	0.82	EV
GK	0.53	0.03	0.37	0.17		-0.45	0.51	0.77	-0.14	GK
MJ	0.05	0.43	0.37	0.62	-0.45		0.34	-0.81	0.79	MJ
PP	0.58	0.45	0.66	0.69	0.51	0.34		0.17	0.5	PP
METV	0.14	-0.1	-0.16	-0.28	0.77	-0.81	0.17		-0.58	METV
DMAT	0.46	0.48	0.75	0.82	-0.14	0.79	0.5	-0.58		DMAT
	DIVB	MCSE	MDCP	EV	GK	MJ	PP	METV	DMAT

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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

MDCP	+ 0.88	DIVB
DMAT	+ 0.82	EV
DMAT	+ 0.79	MJ
METV	+ 0.77	GK
DMAT	+ 0.75	MDCP
PP	+ 0.69	EV

High negative correlations

METV	- 0.81	MJ
DMAT	- 0.58	METV
MJ	- 0.45	GK
METV	- 0.28	EV
METV	- 0.16	MDCP
DMAT	- 0.14	GK

Defiance Hotel Constituents Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Hotel 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 Hotel'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
DIVB	0.59	0.00	(0.08)	0.09	0.66	(0.66)	1.11	(0.76)	5.73
MCSE	0.74	(0.03)	0.00	(0.10)	0.00	0.00	1.55	(1.67)	5.39
MDCP	0.74	(0.09)	0.00	(0.08)	0.00	0.00	1.38	(1.19)	5.94
EV	1.03	(0.09)	0.00	(0.15)	0.00	0.00	1.81	(2.16)	6.73
GK	0.79	0.02	(0.03)	0.14	1.33	(0.72)	1.57	(1.93)	5.38
MJ	1.95	(0.66)	0.00	(2.24)	0.00	0.00	3.47	(3.59)	21.15
PP	1.13	(0.10)	0.00	(0.08)	0.00	0.00	2.39	(2.09)	9.37
METV	1.06	0.19	0.09	0.77	1.12	(1.16)	2.34	(1.58)	6.62
DMAT	1.32	(0.18)	0.00	(0.28)	0.00	0.00	2.55	(2.65)	10.27

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