US Global Correlations

JETS Etf

USD 24.18 0.21 0.88%

The current 90-days correlation between US Global Jets and Invesco Solar ETF is 0.05 (i.e., Significant diversification). The correlation of US Global 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.

US Global Correlation With Market

Poor diversification

The correlation between US Global Jets and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding US Global Jets and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in US Global Jets. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with JETS Etf

0.89	XLI	Industrial Select Sector	Pair Corr
0.77	DRVN	Driven Brands Holdings	Pair Corr
0.68	ITA	iShares Aerospace Defense	Pair Corr
0.91	VIS	Vanguard Industrials	Pair Corr
0.91	FXR	First Trust Industri	Pair Corr
0.87	PPA	Invesco Aerospace Defense	Pair Corr
0.93	IYJ	iShares Industrials ETF	Pair Corr
0.94	IYT	iShares Transportation	Pair Corr
0.9	FIDU	Fidelity MSCI Industrials	Pair Corr
0.85	NVDL	GraniteShares 15x Long Downward Rally	Pair Corr
0.84	NVDX	T Rex 2X Downward Rally	Pair Corr
0.73	CONL	GraniteShares ETF Trust	Pair Corr
0.85	NVDU	Direxion Daily NVDA Downward Rally	Pair Corr
0.8	BITX	Volatility Shares Trust Low Volatility	Pair Corr
0.9	CRPT	First Trust SkyBridge	Pair Corr
0.91	DAPP	VanEck Digital Trans	Pair Corr
0.9	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.9	BITQ	Bitwise Crypto Industry	Pair Corr
0.91	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.9	DIVG	Invesco Exchange Traded	Pair Corr
0.83	DISO	Tidal Trust II	Pair Corr
0.89	DIVB	iShares Dividend	Pair Corr
0.84	BTC	Grayscale Bitcoin Mini	Pair Corr
0.91	MSTY	YieldMax MSTR Option	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.97	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.84	T	ATT Inc Aggressive Push	Pair Corr
0.87	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.89	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.78	HPQ	HP Inc	Pair Corr
0.9	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.9	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.79	DIS	Walt Disney	Pair Corr
0.9	WMT	Walmart Aggressive Push	Pair Corr

Moving against JETS Etf

0.94	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.77	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.69	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.5	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	TAN	ICLN	SOXX	AWAY	PEJ
TAN		0.91	0.32	-0.51	-0.72	TAN
ICLN	0.91		0.22	-0.7	-0.87	ICLN
SOXX	0.32	0.22		0.27	0.07	SOXX
AWAY	-0.51	-0.7	0.27		0.91	AWAY
PEJ	-0.72	-0.87	0.07	0.91		PEJ
	TAN	ICLN	SOXX	AWAY	PEJ

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

ICLN	+ 0.91	TAN
PEJ	+ 0.91	AWAY
SOXX	+ 0.32	TAN
AWAY	+ 0.27	SOXX
SOXX	+ 0.22	ICLN
PEJ	+ 0.07	SOXX

High negative correlations

PEJ	- 0.87	ICLN
PEJ	- 0.72	TAN
AWAY	- 0.7	ICLN
AWAY	- 0.51	TAN

US Global Constituents Risk-Adjusted Indicators

There is a big difference between JETS Etf performing well and US Global 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 US Global'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
TAN	1.89	(0.15)	0.00	0.52	0.00	0.00	3.35	(3.93)	17.14
ICLN	1.04	(0.21)	0.00	1.58	0.00	0.00	2.01	(2.44)	10.86
SOXX	1.56	(0.25)	0.00	(0.04)	0.00	0.00	2.92	(3.88)	10.31
AWAY	0.98	0.12	0.08	0.25	1.03	(1.04)	2.55	(1.92)	5.64
PEJ	0.75	0.11	0.15	0.22	0.55	(0.89)	1.68	(1.14)	5.98

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC