Strategy Shares Correlations

HNDL Etf

USD 22.26 0.09 0.41%

The current 90-days correlation between Strategy Shares Nasdaq and NEOS ETF Trust is 0.6 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Strategy Shares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Strategy Shares Nasdaq moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Strategy Shares Correlation With Market

Poor diversification

The correlation between Strategy Shares Nasdaq and DJI is 0.63 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategy Shares Nasdaq and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Strategy Shares Nasdaq. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

For more information on how to buy Strategy Etf please use our How to buy in Strategy Etf guide.

Moving together with Strategy Etf

0.85	AOM	iShares Core Moderate	Pair Corr
0.76	AOK	iShares Core Conservative	Pair Corr
0.86	TWIO	Spinnaker ETF Series	Pair Corr
0.69	EAOK	iShares ESG Aware	Pair Corr
0.85	EAOM	iShares ESG Aware	Pair Corr
0.78	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.69	HD	Home Depot Sell-off Trend	Pair Corr

Moving against Strategy Etf

0.43

Boeing Fiscal Year End 29th of January 2025

Pair Corr

Related Correlations Analysis

	NUSI	MDIV	YYY	RYLD	QYLD
NUSI		0.82	0.7	0.9	0.96	NUSI
MDIV	0.82		0.87	0.78	0.76	MDIV
YYY	0.7	0.87		0.54	0.64	YYY
RYLD	0.9	0.78	0.54		0.9	RYLD
QYLD	0.96	0.76	0.64	0.9		QYLD
	NUSI	MDIV	YYY	RYLD	QYLD

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Strategy Shares Constituents Risk-Adjusted Indicators

There is a big difference between Strategy Etf performing well and Strategy Shares 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 Strategy Shares' 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
NUSI	0.50	0.02	(0.03)	0.15	0.56	(0.55)	0.86	(1.50)	4.26
MDIV	0.30	0.00	(0.20)	0.13	0.29	(0.33)	0.73	(0.72)	1.76
YYY	0.34	(0.02)	(0.21)	0.08	0.38	(0.36)	0.66	(0.67)	1.82
RYLD	0.42	0.01	(0.05)	0.13	0.43	(0.48)	1.09	(0.84)	4.10
QYLD	0.41	0.00	(0.05)	0.13	0.74	(0.40)	0.84	(1.33)	3.99

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC