Nicholas Fixed Correlations

FIAX Etf

17.93 0.04 0.22%

The current 90-days correlation between Nicholas Fixed Income and Innovator Russell 2000 is 0.39 (i.e., Weak diversification). The correlation of Nicholas Fixed 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.

Nicholas Fixed Correlation With Market

Very weak diversification

The correlation between Nicholas Fixed Income and DJI is 0.42 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nicholas Fixed Income and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Nicholas Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Nicholas Fixed Income. 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 Nicholas Etf

0.84	UCON	First Trust TCW	Pair Corr
0.66	RINF	ProShares Inflation	Pair Corr
0.77	VPC	Virtus Private Credit	Pair Corr
0.69	HYIN	WisdomTree Alternative	Pair Corr
0.95	HYTR	Northern Lights	Pair Corr
0.84	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.82	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.83	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.83	TOT	Advisor Managed Port	Pair Corr
0.92	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.77	VO	Vanguard Mid Cap	Pair Corr
0.94	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.69	AXP	American Express	Pair Corr
0.86	MRK	Merck Company	Pair Corr
0.78	DD	Dupont De Nemours	Pair Corr
0.79	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.64	PFE	Pfizer Inc	Pair Corr
0.88	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.79	CAT	Caterpillar Sell-off Trend	Pair Corr

Moving against Nicholas Etf

0.57	IRE	Tidal Trust II Trending	Pair Corr
0.65	HPQ	HP Inc	Pair Corr
0.64	T	ATT Inc	Pair Corr
0.64	PG	Procter Gamble Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.6	0.32	-0.39	0.24	-0.24	0.43	-0.19	-0.35	-0.43	META
MSFT	0.6		0.8	-0.55	0.48	0.06	0.13	-0.45	-0.84	-0.7	MSFT
UBER	0.32	0.8		-0.49	0.44	0.32	-0.14	-0.5	-0.81	-0.54	UBER
F	-0.39	-0.55	-0.49		-0.71	0.09	0.24	0.66	0.71	0.73	F
T	0.24	0.48	0.44	-0.71		0.32	-0.45	-0.6	-0.51	-0.64	T
A	-0.24	0.06	0.32	0.09	0.32		-0.5	-0.26	-0.06	-0.09	A
CRM	0.43	0.13	-0.14	0.24	-0.45	-0.5		0.52	0.11	0.02	CRM
JPM	-0.19	-0.45	-0.5	0.66	-0.6	-0.26	0.52		0.64	0.52	JPM
MRK	-0.35	-0.84	-0.81	0.71	-0.51	-0.06	0.11	0.64		0.79	MRK
XOM	-0.43	-0.7	-0.54	0.73	-0.64	-0.09	0.02	0.52	0.79		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	+ 0.8	MSFT
XOM	+ 0.79	MRK
XOM	+ 0.73	F
MRK	+ 0.71	F
JPM	+ 0.66	F
MRK	+ 0.64	JPM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.81	UBER
T	- 0.71	F
XOM	- 0.7	MSFT
XOM	- 0.64	T
JPM	- 0.6	T

Nicholas Fixed Competition Risk-Adjusted Indicators

There is a big difference between Nicholas Etf performing well and Nicholas Fixed 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 Nicholas Fixed'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
META	1.32	(0.28)	0.00	(0.20)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.94	(0.21)	0.00	(0.38)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.46	(0.23)	0.00	(0.17)	0.00	0.00	2.60	(3.82)	10.23
F	1.42	0.13	0.12	0.18	1.27	(1.72)	3.38	(2.35)	16.30
T	0.89	(0.18)	0.00	(0.42)	0.00	0.00	1.53	(1.85)	4.30
A	1.14	(0.09)	(0.05)	0.02	1.39	(1.20)	2.34	(2.22)	6.50
CRM	1.57	(0.16)	0.00	(0.06)	0.00	0.00	3.66	(2.92)	12.37
JPM	1.12	(0.07)	(0.02)	0.04	1.59	(1.13)	2.00	(2.34)	7.38
MRK	1.23	0.32	0.23	0.44	1.01	(1.55)	3.59	(1.98)	8.09
XOM	1.07	0.23	0.12	2.92	0.98	(1.24)	2.37	(1.51)	5.82

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