Defiance Daily Correlations

IONZ Etf

16.27 2.66 14.05%

The current 90-days correlation between Defiance Daily Target and FT Vest Equity is -0.06 (i.e., Good diversification). The correlation of Defiance Daily 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.

Defiance Daily Correlation With Market

Very good diversification

The correlation between Defiance Daily Target and DJI is -0.23 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Daily Target 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, which includes a position in Defiance Daily Target. 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

0.63	SH	ProShares Short SP500	Pair Corr
0.73	SPXU	ProShares UltraPro Short	Pair Corr
0.72	SDS	ProShares UltraShort	Pair Corr
0.73	SPXS	Direxion Daily SP	Pair Corr
0.63	QID	ProShares UltraShort QQQ	Pair Corr
0.75	RWM	ProShares Short Russ	Pair Corr
0.69	SPDN	Direxion Daily SP	Pair Corr
0.76	TAIL	Cambria Tail Risk	Pair Corr

Moving against Defiance Etf

0.77	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.77	TOT	Advisor Managed Port	Pair Corr
0.75	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.64	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.61	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.44	VUG	Vanguard Growth Index Sell-off Trend	Pair Corr
0.85	QTUM	Defiance Quantum ETF	Pair Corr
0.78	VO	Vanguard Mid Cap	Pair Corr
0.77	HDUS	Lattice Strategies Trust	Pair Corr
0.76	DXUV	Dimensional ETF Trust	Pair Corr
0.69	DIHP	Dimensional International	Pair Corr
0.67	XLF	Financial Select Sector	Pair Corr
0.67	SETM	Sprott Energy Transition	Pair Corr
0.65	FALN	iShares Fallen Angels	Pair Corr
0.65	SHLD	Global X Defense	Pair Corr
0.65	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.64	USHY	iShares Broad USD	Pair Corr
0.64	ARLU	AIM ETF Products	Pair Corr
0.57	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.54	JPIE	JP Morgan Exchange	Pair Corr
0.5	STOT	SPDR DoubleLine Short	Pair Corr
0.47	VGSH	Vanguard Short Term Sell-off Trend	Pair Corr
0.37	NETL	Fundamental Income Net	Pair Corr
0.78	KFEB	Innovator Small Cap	Pair Corr
0.76	IWO	iShares Russell 2000	Pair Corr
0.75	EFA	iShares MSCI EAFE	Pair Corr
0.75	SMH	VanEck Semiconductor ETF	Pair Corr
0.73	SOXL	Direxion Daily Semic Aggressive Push	Pair Corr
0.72	SPUT	Innovator ETFs Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.6	0.32	-0.39	0.24	-0.24	0.43	-0.19	-0.35	-0.43	META
MSFT	0.6		0.8	-0.55	0.48	0.06	0.13	-0.45	-0.84	-0.7	MSFT
UBER	0.32	0.8		-0.49	0.44	0.32	-0.14	-0.5	-0.81	-0.54	UBER
F	-0.39	-0.55	-0.49		-0.71	0.09	0.24	0.66	0.71	0.73	F
T	0.24	0.48	0.44	-0.71		0.32	-0.45	-0.6	-0.51	-0.64	T
A	-0.24	0.06	0.32	0.09	0.32		-0.5	-0.26	-0.06	-0.09	A
CRM	0.43	0.13	-0.14	0.24	-0.45	-0.5		0.52	0.11	0.02	CRM
JPM	-0.19	-0.45	-0.5	0.66	-0.6	-0.26	0.52		0.64	0.52	JPM
MRK	-0.35	-0.84	-0.81	0.71	-0.51	-0.06	0.11	0.64		0.79	MRK
XOM	-0.43	-0.7	-0.54	0.73	-0.64	-0.09	0.02	0.52	0.79		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.8	MSFT
XOM	+ 0.79	MRK
XOM	+ 0.73	F
MRK	+ 0.71	F
JPM	+ 0.66	F
MRK	+ 0.64	JPM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.81	UBER
T	- 0.71	F
XOM	- 0.7	MSFT
XOM	- 0.64	T
JPM	- 0.6	T

Defiance Daily Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Daily 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 Daily'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
META	1.32	(0.28)	0.00	(0.20)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.94	(0.21)	0.00	(0.38)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.46	(0.23)	0.00	(0.17)	0.00	0.00	2.60	(3.82)	10.23
F	1.42	0.13	0.12	0.18	1.27	(1.72)	3.38	(2.35)	16.30
T	0.89	(0.18)	0.00	(0.42)	0.00	0.00	1.53	(1.85)	4.30
A	1.14	(0.09)	(0.05)	0.02	1.39	(1.20)	2.34	(2.22)	6.50
CRM	1.57	(0.16)	0.00	(0.06)	0.00	0.00	3.66	(2.92)	12.37
JPM	1.12	(0.07)	(0.02)	0.04	1.59	(1.13)	2.00	(2.34)	7.38
MRK	1.23	0.32	0.23	0.44	1.01	(1.55)	3.59	(1.98)	8.09
XOM	1.07	0.23	0.12	2.92	0.98	(1.24)	2.37	(1.51)	5.82

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