Defiance R2000 Correlations

IWMY Etf

19.55 0.46 2.30%

The current 90-days correlation between Defiance R2000 Target and Timothy Plan International is 0.63 (i.e., Poor diversification). The correlation of Defiance R2000 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 R2000 Correlation With Market

Very poor diversification

The correlation between Defiance R2000 Target and DJI is 0.82 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance R2000 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 R2000 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 industry.

Moving together with Defiance Etf

0.85	CEFD	ETRACS Monthly Pay	Pair Corr
0.74	UPRO	ProShares UltraPro SP500	Pair Corr
0.77	QTJA	Innovator ETFs Trust	Pair Corr
0.76	QTOC	Innovator ETFs Trust	Pair Corr
0.78	XTOC	Innovator ETFs Trust	Pair Corr
0.77	QTAP	Innovator Growth 100	Pair Corr
0.77	XTJA	Innovator ETFs Trust	Pair Corr
0.74	XTAP	Innovator Equity Acc	Pair Corr
0.87	OASC	OneAscent Small Cap	Pair Corr
0.9	VBK	Vanguard Small Cap	Pair Corr
0.72	RDIV	Invesco SP Ultra	Pair Corr
0.72	GAPR	First Trust Exchange	Pair Corr
0.75	BINC	BlackRock ETF Trust	Pair Corr
0.73	AHYB	American Century ETF	Pair Corr
0.64	HD	Home Depot	Pair Corr
0.61	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.81	BA	Boeing	Pair Corr
0.63	CVX	Chevron Corp	Pair Corr
0.64	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Defiance Etf

0.74	VIXM	ProShares VIX Mid Low Volatility	Pair Corr
0.73	VXZ	iPath Series B Low Volatility	Pair Corr
0.71	VXX	iPath Series B Buyout Trend	Pair Corr
0.67	VIXY	ProShares VIX Short Buyout Trend	Pair Corr
0.41	EUO	ProShares UltraShort Euro	Pair Corr
0.32	UUP	Invesco DB Dollar	Pair Corr
0.56	HPQ	HP Inc	Pair Corr
0.49	TRV	The Travelers Companies	Pair Corr
0.42	T	ATT Inc Aggressive Push	Pair Corr
0.34	MMM	3M Company	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.41	-0.42	0.44	0.17	-0.59	0.03	0.31	0.43	0.45	META
MSFT	-0.41		0.75	-0.56	-0.27	0.52	0.62	0.04	-0.8	-0.83	MSFT
UBER	-0.42	0.75		-0.51	-0.08	0.63	0.26	-0.1	-0.77	-0.61	UBER
F	0.44	-0.56	-0.51		-0.18	-0.43	-0.1	0.38	0.71	0.65	F
T	0.17	-0.27	-0.08	-0.18		0.04	-0.58	-0.22	-0.01	0.2	T
A	-0.59	0.52	0.63	-0.43	0.04		0.14	-0.07	-0.47	-0.65	A
CRM	0.03	0.62	0.26	-0.1	-0.58	0.14		0.59	-0.29	-0.64	CRM
JPM	0.31	0.04	-0.1	0.38	-0.22	-0.07	0.59		0.25	-0.11	JPM
MRK	0.43	-0.8	-0.77	0.71	-0.01	-0.47	-0.29	0.25		0.72	MRK
XOM	0.45	-0.83	-0.61	0.65	0.2	-0.65	-0.64	-0.11	0.72		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	+ 0.75	MSFT
XOM	+ 0.72	MRK
MRK	+ 0.71	F
XOM	+ 0.65	F
A	+ 0.63	UBER
CRM	+ 0.62	MSFT

High negative correlations

XOM	- 0.83	MSFT
MRK	- 0.8	MSFT
MRK	- 0.77	UBER
XOM	- 0.65	A
XOM	- 0.64	CRM
XOM	- 0.61	UBER

Defiance R2000 Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance R2000 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 R2000'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	1.55	0.02	(0.01)	(0.47)	1.62	(1.79)	3.43	(2.72)	13.36
MSFT	1.23	(0.34)	0.00	1.81	0.00	0.00	1.78	(2.70)	13.28
UBER	1.60	(0.39)	0.00	(0.56)	0.00	0.00	2.46	(5.06)	11.09
F	1.22	0.10	0.05	0.85	1.20	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.13	0.84	0.84	(1.06)	2.02	(1.54)	4.31
A	1.22	(0.23)	0.00	(0.13)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.64	(0.36)	0.00	3.41	0.00	0.00	2.94	(5.31)	12.37
JPM	1.12	0.05	0.01	(0.31)	1.63	(1.14)	2.18	(3.11)	7.38
MRK	1.32	0.48	0.32	0.86	1.07	(1.63)	3.59	(1.98)	8.09
XOM	1.15	0.38	0.28	0.71	0.92	(1.37)	2.69	(2.11)	5.85

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