Amplify Cybersecurity Correlations

HACK Etf

USD 81.84 0.53 0.64%

The current 90-days correlation between Amplify Cybersecurity ETF and iShares Paris Aligned Climate is 0.78 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Amplify Cybersecurity moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Amplify Cybersecurity ETF moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Amplify Cybersecurity Correlation With Market

Poor diversification

The correlation between Amplify Cybersecurity ETF and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Cybersecurity ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Amplify Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Amplify Cybersecurity 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 persons.

Moving together with Amplify Etf

0.98	CIBR	First Trust NASDAQ	Pair Corr
0.91	IGV	iShares Expanded Tech	Pair Corr
0.91	FDN	First Trust Dow	Pair Corr
0.62	PTIR	GraniteShares 2x Long	Pair Corr
0.61	PLTU	Direxion Daily PLTR	Pair Corr
0.81	HPQ	HP Inc	Pair Corr
0.65	BA	Boeing	Pair Corr
0.77	HD	Home Depot	Pair Corr

Moving against Amplify Etf

0.64	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.57	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.43	MUU	Direxion Daily MU Trending	Pair Corr
0.42	MULL	GraniteShares 2x Long Trending	Pair Corr
0.4	NUGT	Direxion Daily Gold	Pair Corr
0.36	JNUG	Direxion Daily Junior	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.71	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr
0.68	KO	Coca Cola	Pair Corr
0.63	MCD	McDonalds	Pair Corr
0.57	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.55	WMT	Walmart Common Stock	Pair Corr
0.55	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.48	BAC	Bank of America	Pair Corr
0.34	IBM	International Business	Pair Corr

Related Correlations Analysis

	PABU	SILJ	SECT	SPYX	IHDG	FLIN	FNCL	SMLF	MDYG	SNPE
PABU		0.19	0.9	0.92	0.65	0.29	0.21	0.63	0.67	0.81	PABU
SILJ	0.19		0.48	0.44	0.69	-0.11	0.58	0.57	0.56	0.48	SILJ
SECT	0.9	0.48		0.94	0.79	0.09	0.53	0.84	0.87	0.85	SECT
SPYX	0.92	0.44	0.94		0.85	0.28	0.38	0.71	0.77	0.96	SPYX
IHDG	0.65	0.69	0.79	0.85		0.24	0.47	0.61	0.67	0.9	IHDG
FLIN	0.29	-0.11	0.09	0.28	0.24		-0.49	-0.19	-0.15	0.35	FLIN
FNCL	0.21	0.58	0.53	0.38	0.47	-0.49		0.81	0.8	0.32	FNCL
SMLF	0.63	0.57	0.84	0.71	0.61	-0.19	0.81		0.98	0.59	SMLF
MDYG	0.67	0.56	0.87	0.77	0.67	-0.15	0.8	0.98		0.66	MDYG
SNPE	0.81	0.48	0.85	0.96	0.9	0.35	0.32	0.59	0.66		SNPE
	PABU	SILJ	SECT	SPYX	IHDG	FLIN	FNCL	SMLF	MDYG	SNPE

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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

MDYG	+ 0.98	SMLF
SNPE	+ 0.96	SPYX
SPYX	+ 0.94	SECT
SPYX	+ 0.92	PABU
SECT	+ 0.9	PABU
SNPE	+ 0.9	IHDG

High negative correlations

FNCL	- 0.49	FLIN
SMLF	- 0.19	FLIN
MDYG	- 0.15	FLIN
FLIN	- 0.11	SILJ

Amplify Cybersecurity Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify Cybersecurity 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 Amplify Cybersecurity'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
PABU	0.65	(0.02)	(0.02)	0.04	0.95	(0.59)	1.34	(1.37)	3.57
SILJ	2.54	0.48	0.15	0.37	2.94	(2.86)	6.12	(5.67)	17.75
SECT	0.68	(0.01)	(0.01)	0.05	0.96	(0.64)	1.30	(1.57)	3.71
SPYX	0.59	(0.01)	(0.01)	0.05	0.86	(0.57)	1.24	(1.19)	3.29
IHDG	0.52	0.03	0.02	0.09	0.58	(0.61)	1.03	(1.16)	3.32
FLIN	0.54	(0.01)	(0.08)	0.00	0.66	(0.55)	1.27	(1.01)	3.60
FNCL	0.67	(0.03)	(0.03)	0.03	0.91	(0.75)	1.36	(1.70)	4.51
SMLF	0.88	(0.04)	(0.02)	0.03	1.23	(0.81)	1.53	(1.93)	4.68
MDYG	0.79	(0.03)	(0.02)	0.03	1.03	(0.77)	1.77	(1.73)	4.29
SNPE	0.56	0.02	0.01	0.08	0.77	(0.55)	1.21	(1.02)	3.33

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