Tactical Advantage Correlations

FDAT Etf

22.57 0.17 0.76%

The current 90-days correlation between Tactical Advantage ETF and Overlay Shares Core is 0.45 (i.e., Very weak diversification). The correlation of Tactical Advantage 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.

Tactical Advantage Correlation With Market

Almost no diversification

The correlation between Tactical Advantage ETF and DJI is 0.94 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Tactical Advantage ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Tactical Etf

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

Moving together with Tactical Etf

0.94	TDSC	Cabana Target Drawdown	Pair Corr
0.95	YYY	Amplify High Income	Pair Corr
0.94	FVC	First Trust Dorsey	Pair Corr
0.91	TDSB	Cabana Target Drawdown	Pair Corr
0.94	GMOM	Cambria Global Momentum	Pair Corr
0.85	AGOX	Adaptive Alpha Oppor	Pair Corr
0.97	TACK	Fairlead Tactical Sector	Pair Corr
0.96	DALI	First Trust Dorsey	Pair Corr
0.73	USD	ProShares Ultra Semi	Pair Corr
0.91	JNUG	Direxion Daily Junior	Pair Corr
0.87	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.92	NUGT	Direxion Daily Gold	Pair Corr
0.92	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.73	AGQ	ProShares Ultra Silver	Pair Corr
0.63	GGLL	Direxion Daily GOOGL	Pair Corr
0.89	DGP	DB Gold Double	Pair Corr
0.97	PFF	iShares Preferred	Pair Corr
0.74	FXC	Invesco CurrencyShares	Pair Corr
0.92	JANW	AIM ETF Products	Pair Corr
0.9	TAXT	Northern Trust Tax	Pair Corr
0.95	FPXE	First Trust IPOX	Pair Corr
0.93	GAPR	First Trust Exchange	Pair Corr
0.94	WLDR	Affinity World Leaders	Pair Corr
0.93	SIXJ	AIM ETF Products	Pair Corr
0.89	VGUS	Vanguard Ultra Short	Pair Corr
0.91	WDNA	WisdomTree BioRevolution	Pair Corr
0.95	CHPS	Xtrackers Semiconductor	Pair Corr
0.92	PCEM	Litman Gregory Funds	Pair Corr
0.83	LVHI	Franklin International	Pair Corr
0.96	ESML	iShares ESG Aware	Pair Corr
0.9	XYLD	Global X SP	Pair Corr
0.93	XAUG	FT Cboe Vest	Pair Corr
0.87	REGL	ProShares SP MidCap	Pair Corr
0.87	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.95	TLCI	Touchstone ETF Trust	Pair Corr

Related Correlations Analysis

	PSTR	THTA	APRJ	CARZ	EAOA	PSFJ	SPXV	MARB	XRLV	OVB
PSTR		0.94	0.95	0.94	0.97	0.99	0.9	0.87	0.54	0.87	PSTR
THTA	0.94		0.94	0.9	0.94	0.93	0.8	0.84	0.68	0.9	THTA
APRJ	0.95	0.94		0.92	0.91	0.93	0.77	0.89	0.6	0.86	APRJ
CARZ	0.94	0.9	0.92		0.97	0.91	0.8	0.88	0.65	0.82	CARZ
EAOA	0.97	0.94	0.91	0.97		0.96	0.9	0.84	0.64	0.88	EAOA
PSFJ	0.99	0.93	0.93	0.91	0.96		0.94	0.83	0.49	0.86	PSFJ
SPXV	0.9	0.8	0.77	0.8	0.9	0.94		0.66	0.3	0.76	SPXV
MARB	0.87	0.84	0.89	0.88	0.84	0.83	0.66		0.62	0.77	MARB
XRLV	0.54	0.68	0.6	0.65	0.64	0.49	0.3	0.62		0.69	XRLV
OVB	0.87	0.9	0.86	0.82	0.88	0.86	0.76	0.77	0.69		OVB
	PSTR	THTA	APRJ	CARZ	EAOA	PSFJ	SPXV	MARB	XRLV	OVB

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Tactical Advantage Constituents Risk-Adjusted Indicators

There is a big difference between Tactical Etf performing well and Tactical Advantage 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 Tactical Advantage'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
PSTR	0.40	0.01	(0.03)	0.08	0.44	(0.42)	0.82	(0.89)	2.61
THTA	0.35	0.03	0.00	0.13	0.46	(0.43)	0.97	(0.99)	3.70
APRJ	0.06	0.01	(0.59)	0.35	0.00	(0.09)	0.16	(0.12)	0.41
CARZ	1.08	0.12	0.09	0.17	1.21	(1.10)	2.53	(2.17)	5.77
EAOA	0.46	0.00	(0.03)	0.06	0.59	(0.46)	0.87	(1.12)	3.01
PSFJ	0.25	(0.01)	(0.12)	0.04	0.33	(0.25)	0.52	(0.61)	1.92
SPXV	0.59	(0.06)	0.00	(0.02)	0.00	0.00	0.89	(1.60)	4.09
MARB	0.12	0.01	(0.31)	0.32	0.00	(0.17)	0.24	(0.19)	1.32
XRLV	0.43	0.08	0.06	0.35	0.36	(0.48)	0.93	(0.81)	2.33
OVB	0.29	0.02	(0.06)	0.12	0.38	(0.35)	0.74	(0.54)	2.58

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Tactical Advantage Correlations

Tactical Advantage Correlation With Market

Almost no diversification

Moving together with Tactical Etf

Related Correlations Analysis

Tactical Advantage Constituents Risk-Adjusted Indicators

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