Defiance Leveraged Correlations

Etfs . USA . 
Etf . Defiance Leveraged Long
HOOI Etf   10.05  0.10  1.01%   
The current 90-days correlation between Defiance Leveraged Long and Lottery is -0.19 (i.e., Good diversification). The correlation of Defiance Leveraged 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.

Defiance Leveraged Correlation With Market

Pay attention - limited upside

The correlation between Defiance Leveraged Long and DJI is -0.87 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Leveraged Long and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with Defiance Etf
Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Defiance Etf

  0.79VXX iPath Series B Low VolatilityPairCorr
  0.79VIXY ProShares VIX Short Low VolatilityPairCorr
  0.8VIXM ProShares VIX Mid Low VolatilityPairCorr
  0.61EUO ProShares UltraShort EuroPairCorr
  0.8VXZ iPath Series BPairCorr

Moving against Defiance Etf

  0.78CEFD ETRACS Monthly PayPairCorr
  0.74JNUG Direxion Daily JuniorPairCorr
  0.73NUGT Direxion Daily GoldPairCorr
  0.71UDN Invesco DB DollarPairCorr
  0.7KORU Direxion Daily SouthPairCorr
  0.69MUU Direxion Daily MUPairCorr
  0.69MULL GraniteShares 2x LongPairCorr
  0.67GDXU MicroSectors Gold Miners Upward RallyPairCorr
  0.65BWET ETF Managers GroupPairCorr
  0.61FNGD MicroSectors FANG IndexPairCorr
  0.5AGQ ProShares Ultra SilverPairCorr
  0.87PFFA Virtus InfraCap PreferredPairCorr
  0.85IQSZ Invesco Actively ManagedPairCorr
  0.84PSFD Pacer Swan SOSPairCorr
  0.83XYLD Global X SPPairCorr
  0.83XAUG FT Cboe VestPairCorr
  0.81REGL ProShares SP MidCapPairCorr
  0.81FPXE First Trust IPOXPairCorr
  0.8CHPS Xtrackers SemiconductorPairCorr
  0.8GENW Spinnaker ETF SeriesPairCorr
  0.8WDNA WisdomTree BioRevolutionPairCorr
  0.78BSMS Invesco BulletShares 2028PairCorr
  0.7DBA Invesco DB AgriculturePairCorr
  0.69NCPB Nuveen Core PlusPairCorr
  0.68EMES Harbor ETF TrustPairCorr
  0.66SHNY Microsectors GoldPairCorr
  0.64GPT Intelligent Alpha Atlas Symbol ChangePairCorr
  0.43FHLC Fidelity MSCI HealthPairCorr
  0.31TERG Leverage Shares 2XPairCorr
  0.89ESML iShares ESG AwarePairCorr
  0.86GAPR First Trust ExchangePairCorr
  0.85JANW AIM ETF ProductsPairCorr
  0.85SIXJ AIM ETF ProductsPairCorr

Related Correlations Analysis


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

XOM
+ 0.82
MRK
CRM
+ 0.81
MSFT
UBER
+ 0.8
MSFT
A
+ 0.78
UBER
A
+ 0.71
MSFT
MRK
+ 0.68
F
  

High negative correlations

XOM
- 0.91
MSFT
MRK
- 0.85
MSFT
XOM
- 0.81
CRM
MRK
- 0.8
UBER
XOM
- 0.78
A
CRM
- 0.75
T

Defiance Leveraged Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Leveraged 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 Defiance Leveraged'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.51  0.00 (0.02) 0.06  1.53 
(1.82)
 3.43 
(2.82)
 13.69 
MSFT  1.32 (0.36) 0.00 (0.92) 0.00 
 0.00 
 1.90 
(2.74)
 13.28 
UBER  1.50 (0.46) 0.00 (0.90) 0.00 
 0.00 
 2.41 
(3.82)
 11.09 
F  1.22  0.07  0.05  0.14  1.20 
(1.48)
 3.34 
(2.30)
 7.16 
T  1.02  0.23  0.17  3.71  0.77 
(1.19)
 3.87 
(1.54)
 5.31 
A  1.27 (0.30) 0.00 (0.17) 0.00 
 0.00 
 2.90 
(2.73)
 7.85 
CRM  1.68 (0.41) 0.00 (0.35) 0.00 
 0.00 
 2.94 
(4.75)
 12.37 
JPM  1.26 (0.15) 0.00 (0.04) 0.00 
 0.00 
 2.34 
(3.11)
 7.38 
MRK  1.35  0.49  0.35  0.77  0.97 
(1.72)
 3.59 
(1.98)
 8.74 
XOM  1.24  0.36  0.22  1.65  1.11 
(1.42)
 2.68 
(2.12)
 6.83 

Defiance Leveraged Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Defiance Leveraged etf to make a market-neutral strategy. Peer analysis of Defiance Leveraged could also be used in its relative valuation, which is a method of valuing Defiance Leveraged by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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