Strategy Shares Correlations

ELCV Etf

29.13 0.24 0.82%

The current 90-days correlation between Strategy Shares and Invesco SP SmallCap is 0.47 (i.e., Very weak diversification). The correlation of Strategy Shares 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.

Strategy Shares Correlation With Market

Very poor diversification

The correlation between Strategy Shares and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategy Shares and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Strategy Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Strategy Shares. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

For more information on how to buy Strategy Etf please use our How to Invest in Strategy Shares guide.

Moving together with Strategy Etf

0.74	VTI	Vanguard Total Stock	Pair Corr
0.72	SPY	SPDR SP 500	Pair Corr
0.72	IVV	iShares Core SP	Pair Corr
0.74	BND	Vanguard Total Bond	Pair Corr
0.96	VTV	Vanguard Value Index	Pair Corr
0.84	VO	Vanguard Mid Cap	Pair Corr
0.95	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.89	VB	Vanguard Small Cap	Pair Corr
0.9	VWO	Vanguard FTSE Emerging	Pair Corr
0.84	CPST	Calamos ETF Trust	Pair Corr
0.73	ELON	Battleshares TSLA	Pair Corr
0.93	ITDD	iShares Trust	Pair Corr
0.76	AA	Alcoa Corp	Pair Corr
0.94	CVX	Chevron Corp	Pair Corr
0.9	JNJ	Johnson Johnson	Pair Corr
0.66	PG	Procter Gamble	Pair Corr
0.69	VZ	Verizon Communications Aggressive Push	Pair Corr
0.95	DD	Dupont De Nemours	Pair Corr
0.81	BA	Boeing	Pair Corr
0.86	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.97	CAT	Caterpillar	Pair Corr
0.87	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr

Moving against Strategy Etf

0.66	MPAY	Exchange Traded Concepts	Pair Corr
0.33	VUG	Vanguard Growth Index	Pair Corr
0.86	MSFT	Microsoft	Pair Corr
0.79	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.47	-0.53	0.48	0.21	-0.59	-0.11	0.33	0.53	0.48	META
MSFT	-0.47		0.77	-0.48	-0.57	0.67	0.77	-0.01	-0.82	-0.89	MSFT
UBER	-0.53	0.77		-0.42	-0.35	0.75	0.44	-0.17	-0.79	-0.71	UBER
F	0.48	-0.48	-0.42		-0.1	-0.36	-0.14	0.37	0.65	0.57	F
T	0.21	-0.57	-0.35	-0.1		-0.25	-0.7	-0.05	0.28	0.49	T
A	-0.59	0.67	0.75	-0.36	-0.25		0.39	-0.11	-0.58	-0.74	A
CRM	-0.11	0.77	0.44	-0.14	-0.7	0.39		0.41	-0.46	-0.77	CRM
JPM	0.33	-0.01	-0.17	0.37	-0.05	-0.11	0.41		0.26	-0.02	JPM
MRK	0.53	-0.82	-0.79	0.65	0.28	-0.58	-0.46	0.26		0.79	MRK
XOM	0.48	-0.89	-0.71	0.57	0.49	-0.74	-0.77	-0.02	0.79		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	+ 0.79	MRK
UBER	+ 0.77	MSFT
CRM	+ 0.77	MSFT
A	+ 0.75	UBER
A	+ 0.67	MSFT
MRK	+ 0.65	F

High negative correlations

XOM	- 0.89	MSFT
MRK	- 0.82	MSFT
MRK	- 0.79	UBER
XOM	- 0.77	CRM
XOM	- 0.74	A
XOM	- 0.71	UBER

Strategy Shares Competition Risk-Adjusted Indicators

There is a big difference between Strategy Etf performing well and Strategy Shares 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 Strategy Shares' 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	1.48	0.08	0.02	0.24	1.42	(1.77)	3.43	(2.60)	13.69
MSFT	1.34	(0.34)	0.00	(0.74)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.44)	0.00	(0.66)	0.00	0.00	2.41	(3.82)	11.09
F	1.21	0.01	0.01	0.11	1.19	(1.48)	3.38	(2.35)	7.16
T	1.00	0.22	0.13	2.45	0.77	(1.17)	3.87	(1.54)	5.31
A	1.21	(0.32)	0.00	(0.16)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.66	(0.47)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.23	(0.14)	(0.05)	0.00	1.73	(1.28)	2.34	(3.11)	7.38
MRK	1.32	0.45	0.31	0.75	1.00	(1.65)	3.59	(1.98)	8.74
XOM	1.20	0.47	0.29	3.81	0.90	(1.43)	2.69	(2.11)	5.85

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