Strategy Shares Correlations

ESLG Etf

25.21 0.05 0.20%

The current 90-days correlation between Strategy Shares and Prospera Income ETF is 0.6 (i.e., Poor 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.

Strategy Shares Correlation With Market

Poor diversification

The correlation between Strategy Shares and DJI is 0.7 (i.e., 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 industry.

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

Moving together with Strategy Etf

0.73	VUG	Vanguard Growth Index	Pair Corr
0.79	IWF	iShares Russell 1000	Pair Corr
0.64	IVW	iShares SP 500	Pair Corr
0.62	SPYG	SPDR Portfolio SP	Pair Corr
0.79	VONG	Vanguard Russell 1000	Pair Corr
0.61	MGK	Vanguard Mega Cap	Pair Corr
0.63	VRGWX	Vanguard Russell 1000	Pair Corr
0.64	QQQM	Invesco NASDAQ 100	Pair Corr
0.8	IWY	iShares Russell Top	Pair Corr
0.7	SWIN	Alps Earnings Call This Week	Pair Corr
0.8	QQH	HCM Defender 100	Pair Corr
0.8	XLK	Technology Select Sector Aggressive Push	Pair Corr

Moving against Strategy Etf

0.53	WNTR	YieldMax MSTR Short	Pair Corr
0.33	ASA	ASA Gold	Pair Corr
0.31	LENS	Sarmaya Thematic ETF	Pair Corr
0.35	SIL	Global X Silver	Pair Corr
0.34	IBTG	iShares iBonds Dec	Pair Corr
0.42	GBUG	Sprott Active Gold	Pair Corr
0.42	FROG	Jfrog	Pair Corr
0.38	CLOX	Series Portfolios Trust	Pair Corr
0.31	SIXS	6 Meridian Small	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.54	-0.62	0.54	-0.57	0.22	-0.15	-0.56	-0.61	META
MSFT	0.66		0.83	-0.51	0.36	-0.2	0.07	-0.32	-0.77	-0.61	MSFT
UBER	0.54	0.83		-0.61	0.57	-0.27	-0.14	-0.27	-0.85	-0.59	UBER
F	-0.62	-0.51	-0.61		-0.7	0.53	0.3	0.41	0.69	0.75	F
T	0.54	0.36	0.57	-0.7		-0.52	-0.5	-0.21	-0.53	-0.47	T
A	-0.57	-0.2	-0.27	0.53	-0.52		-0.18	-0.26	0.46	0.23	A
CRM	0.22	0.07	-0.14	0.3	-0.5	-0.18		0.37	0.07	0.17	CRM
JPM	-0.15	-0.32	-0.27	0.41	-0.21	-0.26	0.37		0.32	0.41	JPM
MRK	-0.56	-0.77	-0.85	0.69	-0.53	0.46	0.07	0.32		0.65	MRK
XOM	-0.61	-0.61	-0.59	0.75	-0.47	0.23	0.17	0.41	0.65		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	+ 0.75	F
MRK	+ 0.69	F
MSFT	+ 0.66	META
XOM	+ 0.65	MRK
T	+ 0.57	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.7	F
F	- 0.62	META
F	- 0.61	UBER
XOM	- 0.61	MSFT

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	1.39	(0.24)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.97	(0.24)	0.00	(0.75)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.07	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.54	0.06	0.03	0.13	1.97	(1.52)	3.66	(2.92)	9.91
JPM	1.05	0.00	0.01	0.07	1.40	(1.05)	2.00	(1.91)	7.02
MRK	1.45	0.40	0.28	0.53	1.08	(1.84)	4.85	(2.06)	11.45
XOM	0.94	0.06	0.01	0.33	0.99	(1.00)	1.96	(1.51)	4.99

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