Strategy Shares Correlations

ESSC Etf

USD 27.60 0.15 0.55%

The current 90-days correlation between Strategy Shares and Direxion Daily Small is 0.02 (i.e., Significant 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

Almost no diversification

The correlation between Strategy Shares and DJI is 0.91 (i.e., Almost no 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 main economic indicators.

For information on how to trade Strategy Etf refer to our How to Trade Strategy Etf guide.

Moving together with Strategy Etf

0.94	VB	Vanguard Small Cap	Pair Corr
0.93	IWM	iShares Russell 2000	Pair Corr
0.98	VRTIX	Vanguard Russell 2000	Pair Corr
0.94	DFAS	Dimensional Small Cap	Pair Corr
0.94	VIOO	Vanguard SP Small	Pair Corr
0.92	EWC	iShares MSCI Canada	Pair Corr
0.77	TOT	Advisor Managed Port	Pair Corr
0.66	LQIG	SPDR MarketAxess Inv	Pair Corr
0.81	ISTB	iShares Core 1	Pair Corr
0.83	HCMAX	THE HILLMAN FUND	Pair Corr
0.82	URA	Global X Uranium	Pair Corr
0.85	TAXT	Northern Trust Tax	Pair Corr
0.88	CCNR	CoreCommodity Natural	Pair Corr
0.93	AHYB	American Century ETF	Pair Corr
0.73	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.89	DES	WisdomTree SmallCap	Pair Corr

Moving against Strategy Etf

0.37	HUM	Humana Inc	Pair Corr
0.64	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	ESML	EWG	FTLS	FUTY	XSMO	EWW	HDEF	XSOE	XOP	TNA
ESML		0.9	0.2	0.52	0.47	0.93	0.51	0.64	0.54	0.42	ESML
EWG	0.9		0.31	0.45	0.38	0.87	0.49	0.6	0.41	0.3	EWG
FTLS	0.2	0.31		-0.09	0.01	0.2	0.03	0.21	0.0	0.14	FTLS
FUTY	0.52	0.45	-0.09		0.04	0.65	0.26	0.19	0.48	-0.24	FUTY
XSMO	0.47	0.38	0.01	0.04		0.48	0.89	0.88	0.75	0.84	XSMO
EWW	0.93	0.87	0.2	0.65	0.48		0.59	0.63	0.64	0.29	EWW
HDEF	0.51	0.49	0.03	0.26	0.89	0.59		0.9	0.84	0.63	HDEF
XSOE	0.64	0.6	0.21	0.19	0.88	0.63	0.9		0.75	0.81	XSOE
XOP	0.54	0.41	0.0	0.48	0.75	0.64	0.84	0.75		0.45	XOP
TNA	0.42	0.3	0.14	-0.24	0.84	0.29	0.63	0.81	0.45		TNA
	ESML	EWG	FTLS	FUTY	XSMO	EWW	HDEF	XSOE	XOP	TNA

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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

EWW	+ 0.93	ESML
EWG	+ 0.9	ESML
XSOE	+ 0.9	HDEF
HDEF	+ 0.89	XSMO
XSOE	+ 0.88	XSMO
EWW	+ 0.87	EWG

High negative correlations

TNA	- 0.24	FUTY
FUTY	- 0.09	FTLS
XOP	- 0.0	FTLS

Strategy Shares Constituents 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
ESML	0.73	0.04	0.04	0.14	0.63	(0.87)	1.59	(1.32)	4.75
EWG	0.57	0.07	0.04	0.22	0.57	(0.61)	1.07	(0.98)	3.00
FTLS	0.36	(0.05)	(0.19)	(0.02)	0.53	(0.35)	0.69	(0.75)	2.48
FUTY	0.73	0.06	(0.02)	0.51	0.89	(0.75)	1.46	(1.50)	4.35
XSMO	0.83	0.19	0.10	2.48	0.76	(0.91)	2.02	(1.60)	5.11
EWW	0.97	0.24	0.17	0.52	0.91	(1.17)	1.96	(1.45)	7.17
HDEF	0.51	0.20	0.17	(1.36)	0.00	(0.63)	1.51	(0.74)	2.76
XSOE	0.70	0.18	0.17	0.36	0.51	(0.81)	2.03	(1.22)	4.40
XOP	1.35	0.19	0.05	(5.55)	1.44	(1.38)	2.96	(2.51)	6.95
TNA	2.66	0.19	0.14	0.15	2.84	(2.90)	5.88	(5.34)	16.60

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