AlphaDroid Defensive Correlations

EZRO Etf

26.35 0.12 0.45%

The current 90-days correlation between AlphaDroid Defensive and YieldMax Nasdaq 100 is 0.81 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AlphaDroid Defensive moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AlphaDroid Defensive Sector moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AlphaDroid Defensive Correlation With Market

Very poor diversification

The correlation between AlphaDroid Defensive Sector and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AlphaDroid Defensive Sector and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AlphaDroid Etf

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

Moving together with AlphaDroid Etf

0.94	ICLN	iShares Global Clean	Pair Corr
0.92	XT	iShares Exponential	Pair Corr
0.92	TAN	Invesco Solar ETF	Pair Corr
0.95	QCLN	First Trust NASDAQ	Pair Corr
0.9	BOTZ	Global X Robotics	Pair Corr
0.94	DRIV	Global X Autonomous	Pair Corr
0.84	ACES	ALPS Clean Energy Downward Rally	Pair Corr
0.88	ITWO	Proshares Russell 2000	Pair Corr
0.65	AMPD	Tidal ETF Services	Pair Corr
0.64	ELON	Battleshares TSLA	Pair Corr
0.91	CPST	Calamos ETF Trust	Pair Corr
0.91	GBUG	Sprott Active Gold	Pair Corr
0.93	EPU	iShares MSCI Peru	Pair Corr
0.83	GOCT	FT Cboe Vest	Pair Corr
0.96	FEM	First Trust Emerging	Pair Corr
0.95	DFE	WisdomTree Europe	Pair Corr
0.94	DFIC	Dimensional International	Pair Corr
0.92	AUMI	Themes Gold Miners	Pair Corr
0.93	IAU	iShares Gold Trust Aggressive Push	Pair Corr
0.67	JETS	US Global Jets	Pair Corr
0.96	IEMG	iShares Core MSCI Sell-off Trend	Pair Corr
0.83	UCO	ProShares Ultra Bloomberg	Pair Corr
0.95	AVDS	Avantis International	Pair Corr
0.93	NAPR	Innovator Nasdaq 100	Pair Corr
0.88	FTCS	First Trust Capital	Pair Corr
0.91	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.89	LQDW	iShares Trust	Pair Corr
0.92	VYMI	Vanguard International	Pair Corr
0.95	CCNR	CoreCommodity Natural	Pair Corr
0.92	QTAP	Innovator Growth 100	Pair Corr
0.73	LQIG	SPDR MarketAxess Inv	Pair Corr
0.96	EAFG	Pacer Funds Trust	Pair Corr
0.82	BIB	ProShares Ultra Nasdaq	Pair Corr
0.73	BDEC	Innovator SP 500	Pair Corr
0.96	IXUS	iShares Core MSCI	Pair Corr
0.89	EMIF	iShares Emerging Markets	Pair Corr

Moving against AlphaDroid Etf

0.76	MPAY	Exchange Traded Concepts	Pair Corr
0.68	IPAY	Amplify Digital Payments	Pair Corr
0.37	MJ	Amplify Alternative	Pair Corr

Related Correlations Analysis

	WCME	NDVG	FEBZ	LQPE	RDOG	BUYO	TGLB	QDTY
WCME		0.88	0.54	-0.38	0.84	0.87	0.43	0.19	WCME
NDVG	0.88		0.51	-0.29	0.89	0.88	0.42	0.05	NDVG
FEBZ	0.54	0.51		0.38	0.21	0.64	0.92	0.83	FEBZ
LQPE	-0.38	-0.29	0.38		-0.42	-0.09	0.47	0.49	LQPE
RDOG	0.84	0.89	0.21	-0.42		0.82	0.13	-0.24	RDOG
BUYO	0.87	0.88	0.64	-0.09	0.82		0.63	0.29	BUYO
TGLB	0.43	0.42	0.92	0.47	0.13	0.63		0.84	TGLB
QDTY	0.19	0.05	0.83	0.49	-0.24	0.29	0.84		QDTY
	WCME	NDVG	FEBZ	LQPE	RDOG	BUYO	TGLB	QDTY

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

TGLB	+ 0.92	FEBZ
RDOG	+ 0.89	NDVG
NDVG	+ 0.88	WCME
BUYO	+ 0.88	NDVG
BUYO	+ 0.87	WCME
RDOG	+ 0.84	WCME

High negative correlations

RDOG	- 0.42	LQPE
LQPE	- 0.38	WCME
LQPE	- 0.29	NDVG
QDTY	- 0.24	RDOG
BUYO	- 0.09	LQPE

AlphaDroid Defensive Constituents Risk-Adjusted Indicators

There is a big difference between AlphaDroid Etf performing well and AlphaDroid Defensive 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 AlphaDroid Defensive'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
WCME	0.83	0.11	0.09	0.23	0.86	(0.88)	1.98	(1.58)	4.77
NDVG	0.46	0.03	0.00	0.12	0.58	(0.45)	0.85	(0.99)	3.52
FEBZ	0.47	(0.02)	(0.07)	0.05	0.57	(0.48)	1.02	(0.96)	3.15
LQPE	0.85	(0.02)	(0.01)	0.06	1.12	(0.91)	2.01	(1.51)	6.45
RDOG	0.64	0.10	0.07	0.35	0.63	(0.70)	1.35	(1.01)	3.52
BUYO	0.81	0.07	0.09	0.14	0.76	(0.90)	1.69	(1.43)	6.13
TGLB	0.64	0.00	(0.01)	0.08	0.90	(0.63)	1.26	(1.73)	5.15
QDTY	0.73	(0.01)	(0.04)	0.06	1.06	(0.68)	1.37	(1.88)	3.99

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