Nicholas Fixed Correlations

FIAX Etf

17.88 0.12 0.67%

The current 90-days correlation between Nicholas Fixed Income and Innovator Russell 2000 is 0.32 (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

Weak diversification

The correlation between Nicholas Fixed Income and DJI is 0.36 (i.e., 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

0.86	UCON	First Trust TCW	Pair Corr
0.86	DEBIX	Shelton Tactical Credit	Pair Corr
0.85	DEBTX	Shelton Tactical Credit	Pair Corr
0.63	SSFI	Strategy Shares	Pair Corr
0.88	SIXD	AIM ETF Products	Pair Corr
0.84	FELV	Fidelity Covington Trust	Pair Corr
0.75	KO	Coca Cola	Pair Corr
0.61	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.79	DD	Dupont De Nemours	Pair Corr
0.62	INTC	Intel Sell-off Trend	Pair Corr
0.67	MMM	3M Company	Pair Corr
0.86	CAT	Caterpillar	Pair Corr
0.8	MRK	Merck Company Aggressive Push	Pair Corr
0.72	MCD	McDonalds	Pair Corr

Moving against Nicholas Etf

0.78	YCL	ProShares Ultra Yen	Pair Corr
0.61	VIXY	ProShares VIX Short	Pair Corr
0.6	VXX	iPath Series B	Pair Corr
0.57	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.37	VIXM	ProShares VIX Mid	Pair Corr
0.37	VXZ	iPath Series B	Pair Corr
0.74	T	ATT Inc	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.6	MSFT	Microsoft	Pair Corr
0.57	CVX	Chevron Corp	Pair Corr
0.47	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.46	HPQ	HP Inc	Pair Corr
0.35	BA	Boeing	Pair Corr
0.31	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.59	-0.66	0.6	-0.63	0.24	-0.12	-0.61	-0.65	META
MSFT	0.66		0.84	-0.51	0.36	-0.25	0.12	-0.27	-0.77	-0.6	MSFT
UBER	0.59	0.84		-0.62	0.58	-0.37	-0.05	-0.13	-0.84	-0.57	UBER
F	-0.66	-0.51	-0.62		-0.72	0.59	0.25	0.35	0.71	0.76	F
T	0.6	0.36	0.58	-0.72		-0.61	-0.41	-0.09	-0.55	-0.49	T
A	-0.63	-0.25	-0.37	0.59	-0.61		-0.16	-0.26	0.56	0.32	A
CRM	0.24	0.12	-0.05	0.25	-0.41	-0.16		0.29	-0.03	0.09	CRM
JPM	-0.12	-0.27	-0.13	0.35	-0.09	-0.26	0.29		0.18	0.3	JPM
MRK	-0.61	-0.77	-0.84	0.71	-0.55	0.56	-0.03	0.18		0.64	MRK
XOM	-0.65	-0.6	-0.57	0.76	-0.49	0.32	0.09	0.3	0.64		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	+ 0.84	MSFT
XOM	+ 0.76	F
MRK	+ 0.71	F
MSFT	+ 0.66	META
XOM	+ 0.64	MRK
T	+ 0.6	META

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.77	MSFT
T	- 0.72	F
F	- 0.66	META
XOM	- 0.65	META
A	- 0.63	META

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	1.41	(0.29)	0.00	(0.25)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.14)	0.00	(0.16)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.49	(0.34)	0.00	(0.26)	0.00	0.00	2.60	(3.82)	10.51
F	1.49	0.17	0.10	0.17	1.70	(1.62)	3.38	(2.63)	16.30
T	0.95	(0.27)	0.00	(0.91)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.08	0.06	0.13	1.31	(1.33)	2.34	(2.21)	11.03
CRM	1.58	0.06	0.03	0.11	2.05	(1.53)	3.66	(2.92)	9.91
JPM	1.03	(0.02)	(0.01)	0.04	1.40	(1.03)	2.00	(1.91)	7.02
MRK	1.47	0.35	0.25	0.47	1.11	(1.91)	4.85	(2.06)	11.45
XOM	0.96	0.07	0.02	0.36	0.99	(1.01)	1.96	(1.51)	4.99

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