Amplify BlueStar Correlations

The current 90-days correlation between Amplify BlueStar Israel and ALPS Clean Energy is 0.7 (i.e., Poor diversification). The correlation of Amplify BlueStar 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.

Amplify BlueStar Correlation With Market

Significant diversification

The correlation between Amplify BlueStar Israel and DJI is 0.03 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify BlueStar Israel 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. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with Amplify Etf

0.62	VGT	Vanguard Information	Pair Corr
0.63	XLK	Technology Select Sector	Pair Corr
0.64	FDN	First Trust Dow	Pair Corr
0.65	ITDD	iShares Trust	Pair Corr
0.66	ITWO	Proshares Russell 2000	Pair Corr
0.76	DIS	Walt Disney	Pair Corr
0.82	BA	Boeing	Pair Corr

Related Correlations Analysis

	ACES	YALL	FEBT	SIXO	XSEP	TMFE	SGLC	SEPT	FDIF	FFND
ACES		0.74	-0.18	-0.16	-0.11	0.51	-0.09	0.0	0.6	0.26	ACES
YALL	0.74		0.07	0.11	0.16	0.63	0.01	0.11	0.66	0.32	YALL
FEBT	-0.18	0.07		1.0	0.99	0.45	0.87	0.85	0.52	0.77	FEBT
SIXO	-0.16	0.11	1.0		0.99	0.49	0.87	0.86	0.55	0.78	SIXO
XSEP	-0.11	0.16	0.99	0.99		0.51	0.87	0.87	0.58	0.8	XSEP
TMFE	0.51	0.63	0.45	0.49	0.51		0.55	0.67	0.89	0.75	TMFE
SGLC	-0.09	0.01	0.87	0.87	0.87	0.55		0.97	0.63	0.89	SGLC
SEPT	0.0	0.11	0.85	0.86	0.87	0.67	0.97		0.71	0.91	SEPT
FDIF	0.6	0.66	0.52	0.55	0.58	0.89	0.63	0.71		0.85	FDIF
FFND	0.26	0.32	0.77	0.78	0.8	0.75	0.89	0.91	0.85		FFND
	ACES	YALL	FEBT	SIXO	XSEP	TMFE	SGLC	SEPT	FDIF	FFND

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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

SIXO	+ 1.0	FEBT
XSEP	+ 0.99	FEBT
XSEP	+ 0.99	SIXO
SEPT	+ 0.97	SGLC
FFND	+ 0.91	SEPT
FDIF	+ 0.89	TMFE

High negative correlations

FEBT	- 0.18	ACES
SIXO	- 0.16	ACES
XSEP	- 0.11	ACES
SGLC	- 0.09	ACES
SEPT	- 0.0	ACES

Amplify BlueStar Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify BlueStar 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 BlueStar'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
ACES	1.83	0.01	0.00	0.04	0.00	0.00	3.59	(3.79)	12.01
YALL	0.72	(0.13)	0.00	(0.06)	0.00	0.00	1.10	(1.82)	4.42
FEBT	0.34	0.01	(0.06)	0.09	0.40	(0.34)	0.70	(0.74)	1.91
SIXO	0.29	0.00	(0.09)	0.07	0.37	(0.29)	0.56	(0.61)	1.68
XSEP	0.24	0.00	(0.13)	0.06	0.29	(0.23)	0.48	(0.55)	1.47
TMFE	0.57	(0.02)	0.00	(0.14)	0.00	0.00	1.21	(1.29)	2.88
SGLC	0.59	0.08	0.01	1.88	0.83	(0.58)	1.18	(1.28)	3.70
SEPT	0.33	0.02	(0.10)	1.33	0.41	(0.36)	0.67	(0.72)	1.95
FDIF	0.78	0.01	(0.05)	0.22	1.07	(0.80)	1.64	(1.74)	4.49
FFND	0.57	0.05	(0.02)	0.56	0.75	(0.62)	1.08	(1.18)	3.63

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