MicroSectors FANG Correlations

FNGO Etf

USD 82.89 0.04 0.05%

The current 90-days correlation between MicroSectors FANG Index and ProShares Ultra SP500 is 0.87 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MicroSectors FANG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MicroSectors FANG Index moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MicroSectors FANG Correlation With Market

Very weak diversification

The correlation between MicroSectors FANG Index and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors FANG Index 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 FANG Index. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with MicroSectors Etf

0.96	SSO	ProShares Ultra SP500	Pair Corr
0.95	SPXL	Direxion Daily SP500	Pair Corr
0.97	QLD	ProShares Ultra QQQ	Pair Corr
0.95	UPRO	ProShares UltraPro SP500	Pair Corr
0.89	TECL	Direxion Daily Technology	Pair Corr
1.0	FNGU	MicroSectors FANG Index Sell-off Trend	Pair Corr
0.86	UYG	ProShares Ultra Fina	Pair Corr
0.93	ARKW	ARK Next Generation	Pair Corr
0.8	EWC	iShares MSCI Canada	Pair Corr
0.91	BST	BlackRock Science Tech	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.88	PPA	Invesco Aerospace Defense	Pair Corr
0.88	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.85	BAC	Bank of America Aggressive Push	Pair Corr
0.61	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.88	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.76	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.63	T	ATT Inc Aggressive Push	Pair Corr
0.68	HD	Home Depot	Pair Corr
0.71	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.79	DIS	Walt Disney Aggressive Push	Pair Corr
0.81	WMT	Walmart Aggressive Push	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.85	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against MicroSectors Etf

0.61	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.5	NRGU	Bank Of Montreal	Pair Corr
0.49	IRET	Tidal Trust II	Pair Corr
0.82	KO	Coca Cola Aggressive Push	Pair Corr
0.81	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.63	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	SSO	QLD	UPRO	TECL	LABU	GUSH	FNGU
SSO		0.98	1.0	0.91	-0.2	0.51	0.95	SSO
QLD	0.98		0.98	0.95	-0.13	0.53	0.97	QLD
UPRO	1.0	0.98		0.92	-0.18	0.52	0.95	UPRO
TECL	0.91	0.95	0.92		-0.04	0.52	0.9	TECL
LABU	-0.2	-0.13	-0.18	-0.04		-0.13	-0.21	LABU
GUSH	0.51	0.53	0.52	0.52	-0.13		0.53	GUSH
FNGU	0.95	0.97	0.95	0.9	-0.21	0.53		FNGU
	SSO	QLD	UPRO	TECL	LABU	GUSH	FNGU

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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

UPRO	+ 1.0	SSO
QLD	+ 0.98	SSO
UPRO	+ 0.98	QLD
FNGU	+ 0.97	QLD
FNGU	+ 0.95	SSO
TECL	+ 0.95	QLD

High negative correlations

FNGU	- 0.21	LABU
LABU	- 0.2	SSO
LABU	- 0.18	UPRO
GUSH	- 0.13	LABU
LABU	- 0.13	QLD
LABU	- 0.04	TECL

MicroSectors FANG Constituents Risk-Adjusted Indicators

There is a big difference between MicroSectors Etf performing well and MicroSectors FANG 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 FANG'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	1.11	0.00	0.04	0.09	1.42	(1.14)	2.17	(2.62)	7.58
QLD	1.60	(0.05)	0.01	0.06	2.42	(1.48)	3.15	(4.83)	10.27
UPRO	1.67	0.00	0.05	0.08	2.17	(1.65)	3.28	(3.94)	11.39
TECL	3.00	(0.18)	0.01	0.03	4.60	(2.95)	5.44	(7.23)	19.94
LABU	2.91	(0.64)	0.00	(0.10)	0.00	0.00	5.44	(7.93)	23.20
GUSH	2.40	0.02	0.03	0.10	3.07	(2.47)	4.29	(4.96)	14.55
FNGU	3.24	0.06	0.05	0.10	4.81	(3.17)	7.14	(9.87)	20.09

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