MicroSectors Travel Correlations

FLYU Etf

USD 60.07 0.62 1.04%

The current 90-days correlation between MicroSectors Travel and ProShares Ultra SP500 is 0.67 (i.e., Poor diversification). The correlation of MicroSectors Travel 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.

MicroSectors Travel Correlation With Market

Average diversification

The correlation between MicroSectors Travel 3X and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors Travel 3X and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in MicroSectors Travel 3X. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with MicroSectors Etf

0.83	SSO	ProShares Ultra SP500	Pair Corr
0.82	SPXL	Direxion Daily SP500	Pair Corr
0.61	QLD	ProShares Ultra QQQ	Pair Corr
0.82	UPRO	ProShares UltraPro SP500	Pair Corr
0.93	UYG	ProShares Ultra Fina	Pair Corr
0.73	ARKW	ARK Next Generation	Pair Corr
0.81	WTMF	WisdomTree Managed	Pair Corr
0.68	EWC	iShares MSCI Canada	Pair Corr
0.67	HUM	Humana Inc Earnings Call This Week	Pair Corr
0.89	DAPP	VanEck Digital Trans	Pair Corr
0.79	UMI	USCF Midstream Energy	Pair Corr
0.65	XCCC	BondBloxx ETF Trust	Pair Corr
0.77	ETH	Grayscale Ethereum Mini Buyout Trend	Pair Corr
0.62	FTLS	First Trust LongShort	Pair Corr
0.64	OLO	Olo Inc	Pair Corr
0.93	IYG	iShares Financial	Pair Corr
0.8	AUGP	PGIM Large Cap	Pair Corr
0.75	BTRN	Global X Funds	Pair Corr

Moving against MicroSectors Etf

0.75	NRGU	Bank Of Montreal	Pair Corr
0.33	IAUF	IShares	Pair Corr

Related Correlations Analysis

	SSO	SPXL	QLD	UPRO	TECL	LABU	GUSH	FNGU	UYG
SSO		1.0	0.84	1.0	0.87	0.06	0.28	0.59	0.81	SSO
SPXL	1.0		0.8	1.0	0.88	0.13	0.28	0.53	0.81	SPXL
QLD	0.84	0.8		0.8	0.79	-0.32	-0.09	0.92	0.51	QLD
UPRO	1.0	1.0	0.8		0.88	0.13	0.28	0.54	0.81	UPRO
TECL	0.87	0.88	0.79	0.88		0.19	-0.07	0.54	0.49	TECL
LABU	0.06	0.13	-0.32	0.13	0.19		0.11	-0.62	0.02	LABU
GUSH	0.28	0.28	-0.09	0.28	-0.07	0.11		-0.21	0.66	GUSH
FNGU	0.59	0.53	0.92	0.54	0.54	-0.62	-0.21		0.32	FNGU
UYG	0.81	0.81	0.51	0.81	0.49	0.02	0.66	0.32		UYG
	SSO	SPXL	QLD	UPRO	TECL	LABU	GUSH	FNGU	UYG

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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

SPXL	+ 1.0	SSO
UPRO	+ 1.0	SSO
UPRO	+ 1.0	SPXL
FNGU	+ 0.92	QLD
TECL	+ 0.88	SPXL
TECL	+ 0.88	UPRO

High negative correlations

FNGU	- 0.62	LABU
LABU	- 0.32	QLD
FNGU	- 0.21	GUSH
GUSH	- 0.09	QLD
GUSH	- 0.07	TECL

MicroSectors Travel Constituents Risk-Adjusted Indicators

There is a big difference between MicroSectors Etf performing well and MicroSectors Travel 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 MicroSectors Travel'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
SSO	1.14	0.04	0.02	0.08	1.75	(1.07)	2.40	(2.62)	10.72
SPXL	1.70	0.05	0.02	0.07	2.66	(1.55)	3.57	(3.94)	16.31
QLD	1.70	0.12	0.04	0.21	2.27	(1.69)	3.30	(3.60)	12.65
UPRO	1.70	0.05	0.02	0.07	2.62	(1.60)	3.61	(3.94)	16.31
TECL	2.74	(0.04)	0.00	(0.02)	0.00	0.00	5.44	(6.67)	17.79
LABU	3.49	(0.59)	0.00	(0.42)	0.00	0.00	5.44	(8.98)	22.49
GUSH	2.28	0.14	0.04	0.34	3.12	(2.25)	3.74	(5.18)	17.43
FNGU	3.38	0.49	0.10	0.50	4.22	(3.51)	7.80	(6.98)	21.89
UYG	1.48	0.19	0.09	0.27	1.81	(1.61)	2.71	(2.76)	18.43

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