Defiance R2000 Correlations

IWMY Etf

19.54 0.34 1.71%

The current 90-days correlation between Defiance R2000 Target and Timothy Plan International is 0.66 (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 0.83 (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 state.

Moving together with Defiance Etf

0.82	CEFD	ETRACS Monthly Pay	Pair Corr
0.68	USD	ProShares Ultra Semi	Pair Corr
0.82	DFEN	Direxion Daily Aerospace	Pair Corr
0.75	DGP	DB Gold Double	Pair Corr
0.76	UGL	ProShares Ultra Gold	Pair Corr
0.8	NUGT	Direxion Daily Gold	Pair Corr
0.65	DIG	ProShares Ultra Oil	Pair Corr
0.65	MLPR	ETRACS Quarterly Pay	Pair Corr
0.76	DUSL	Direxion Daily Indus	Pair Corr
0.69	TAXT	Northern Trust Tax	Pair Corr
0.77	AUMI	Themes Gold Miners	Pair Corr
0.78	NAPR	Innovator Nasdaq 100	Pair Corr
0.77	MEXX	Direxion Daily MSCI	Pair Corr
0.78	FTCS	First Trust Capital	Pair Corr
0.77	DAUG	FT Cboe Vest	Pair Corr
0.75	DISV	Dimensional ETF Trust	Pair Corr
0.74	STXV	EA Series Trust	Pair Corr
0.73	DXJ	WisdomTree Japan Hedged	Pair Corr
0.83	FNK	First Trust Mid	Pair Corr
0.76	UAUG	Innovator Equity Ultra	Pair Corr
0.73	SPDV	AAM SP 500	Pair Corr
0.76	ESGD	iShares ESG Aware	Pair Corr
0.78	FEM	First Trust Emerging	Pair Corr
0.82	RSST	Return Stacked Stocks	Pair Corr
0.8	FIDU	Fidelity MSCI Industrials	Pair Corr
0.71	GPGCX	Grandeur Peak Global	Pair Corr
0.78	AVDS	Avantis International	Pair Corr
0.74	ILOW	AB Active ETFs	Pair Corr
0.78	QTAP	Innovator Growth 100	Pair Corr

Moving against Defiance Etf

0.61	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.57	VIXM	ProShares VIX Mid	Pair Corr
0.56	VXX	iPath Series B Low Volatility	Pair Corr
0.56	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.56	VXZ	iPath Series B	Pair Corr
0.4	EUO	ProShares UltraShort Euro	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

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	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

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