Strategy Shares Correlations

ESIM Etf

25.99 0.01 0.04%

The current 90-days correlation between Strategy Shares and NuShares ETF Trust is 0.08 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Strategy Shares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Strategy Shares moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Strategy Shares Correlation With Market

Modest diversification

The correlation between Strategy Shares and DJI is 0.28 (i.e., Modest 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. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving against Strategy Etf

0.44	FGD	First Trust Dow	Pair Corr
0.44	GAPR	First Trust Exchange	Pair Corr
0.43	SCHY	Schwab International	Pair Corr
0.43	GYLD	Arrow ETF Trust	Pair Corr
0.4	SLX	VanEck Steel ETF	Pair Corr
0.4	RFDI	First Trust RiverFront	Pair Corr
0.36	IHYF	Invesco High Yield	Pair Corr
0.35	JEPI	JPMorgan Equity Premium	Pair Corr
0.33	VTV	Vanguard Value Index	Pair Corr
0.32	VEA	Vanguard FTSE Developed	Pair Corr
0.32	HAP	VanEck Natural Resources	Pair Corr
0.31	SPDW	SPDR SP World	Pair Corr
0.44	BOXX	Alpha Architect 1	Pair Corr
0.43	TYLD	Cambria ETF Trust	Pair Corr
0.41	PEZ	Invesco DWA Consumer	Pair Corr
0.39	LABU	Direxion Daily SP	Pair Corr
0.36	TJAN	Innovator Equity Defined	Pair Corr
0.35	FNDF	Schwab Fundamental	Pair Corr
0.35	DJUL	FT Cboe Vest	Pair Corr
0.34	FNDC	Schwab Fundamental	Pair Corr
0.33	INOV	Innovator ETFs Trust	Pair Corr
0.33	DGRO	iShares Core Dividend	Pair Corr
0.32	VSHY	Virtus ETF Trust	Pair Corr
0.31	MBB	iShares MBS ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.61	0.35	-0.45	0.24	-0.34	0.35	-0.22	-0.36	-0.45	META
MSFT	0.61		0.83	-0.54	0.43	-0.05	0.0	-0.51	-0.82	-0.65	MSFT
UBER	0.35	0.83		-0.51	0.45	0.21	-0.2	-0.52	-0.82	-0.6	UBER
F	-0.45	-0.54	-0.51		-0.69	0.14	0.33	0.65	0.69	0.78	F
T	0.24	0.43	0.45	-0.69		0.24	-0.61	-0.65	-0.48	-0.61	T
A	-0.34	-0.05	0.21	0.14	0.24		-0.55	-0.25	-0.02	0.04	A
CRM	0.35	0.0	-0.2	0.33	-0.61	-0.55		0.55	0.24	0.27	CRM
JPM	-0.22	-0.51	-0.52	0.65	-0.65	-0.25	0.55		0.69	0.67	JPM
MRK	-0.36	-0.82	-0.82	0.69	-0.48	-0.02	0.24	0.69		0.8	MRK
XOM	-0.45	-0.65	-0.6	0.78	-0.61	0.04	0.27	0.67	0.8		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

UBER	+ 0.83	MSFT
XOM	+ 0.8	MRK
XOM	+ 0.78	F
MRK	+ 0.69	F
MRK	+ 0.69	JPM
XOM	+ 0.67	JPM

High negative correlations

MRK	- 0.82	UBER
MRK	- 0.82	MSFT
T	- 0.69	F
JPM	- 0.65	T
XOM	- 0.65	MSFT
XOM	- 0.61	T

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	1.36	(0.24)	0.00	(0.91)	0.00	0.00	2.30	(2.72)	13.46
MSFT	0.93	(0.14)	0.00	1.10	0.00	0.00	1.65	(2.50)	4.90
UBER	1.49	(0.09)	0.00	0.25	0.00	0.00	2.60	(3.82)	10.23
F	1.41	0.31	0.14	1.78	1.26	(1.68)	3.38	(2.35)	16.30
T	0.90	(0.14)	0.00	3.37	0.00	0.00	1.63	(1.85)	5.78
A	1.09	(0.02)	(0.01)	0.09	1.19	(1.20)	2.34	(2.09)	6.50
CRM	1.60	(0.01)	(0.05)	0.55	2.36	(1.55)	3.66	(3.61)	9.91
JPM	1.18	0.02	(0.04)	0.25	1.67	(1.19)	2.34	(2.34)	7.02
MRK	1.22	0.30	0.18	0.88	1.06	(1.52)	3.59	(1.98)	8.09
XOM	1.06	0.12	0.06	0.33	1.05	(1.18)	2.21	(1.93)	5.82

Strategy Shares 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 Strategy Shares etf to make a market-neutral strategy. Peer analysis of Strategy Shares could also be used in its relative valuation, which is a method of valuing Strategy Shares by comparing valuation metrics with similar companies.

Strategy Shares NuShares ETF Trust VistaShares Artificial Intelligence AdvisorShares FT Cboe Vest Robo Global Robotics Bitwise Funds Trust Roundhill Magnificent Seven American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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