Formidable Fortress Correlations

KONG Etf

USD 30.74 0.34 1.12%

The current 90-days correlation between Formidable Fortress ETF and SPDR SP Kensho is 0.65 (i.e., Poor diversification). The correlation of Formidable Fortress 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.

Formidable Fortress Correlation With Market

Very poor diversification

The correlation between Formidable Fortress ETF and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Formidable Fortress ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Formidable Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Formidable Fortress ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving together with Formidable Etf

0.89	VO	Vanguard Mid Cap	Pair Corr
0.92	VXF	Vanguard Extended Market	Pair Corr
0.81	IJH	iShares Core SP	Pair Corr
0.85	IWR	iShares Russell Mid	Pair Corr
0.82	MDY	SPDR SP MIDCAP	Pair Corr
0.89	FV	First Trust Dorsey	Pair Corr
0.81	IVOO	Vanguard SP Mid	Pair Corr
0.8	JHMM	John Hancock Multifactor	Pair Corr
0.85	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.81	XMMO	Invesco SP MidCap	Pair Corr
0.8	WSML	iShares MSCI World	Pair Corr
0.74	PULS	PGIM Ultra Short	Pair Corr
0.68	CPSR	Calamos SP 500	Pair Corr
0.89	GAPR	First Trust Exchange	Pair Corr
0.61	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.68	DBA	Invesco DB Agriculture	Pair Corr
0.69	CCNR	CoreCommodity Natural	Pair Corr
0.84	ESML	iShares ESG Aware	Pair Corr
0.68	FIDU	Fidelity MSCI Industrials	Pair Corr
0.66	GOOX	Etf Opportunities Trust	Pair Corr
0.73	CHPS	Xtrackers Semiconductor	Pair Corr
0.79	NULV	Nuveen ESG Large	Pair Corr
0.92	JANW	AIM ETF Products	Pair Corr
0.9	UMAY	Innovator ETFs Trust	Pair Corr
0.67	PCEM	Litman Gregory Funds	Pair Corr
0.82	FPXE	First Trust IPOX	Pair Corr
0.63	FHLC	Fidelity MSCI Health	Pair Corr
0.89	PFFA	Virtus InfraCap Preferred	Pair Corr
0.84	IQSZ	Invesco Actively Managed	Pair Corr

Moving against Formidable Etf

0.6	JEM	707 Cayman Holdings	Pair Corr
0.37	SWIN	Alps Symbol Change	Pair Corr
0.69	MPAY	Exchange Traded Concepts	Pair Corr
0.49	XLU	Utilities Select Sector Aggressive Push	Pair Corr

Related Correlations Analysis

	FORH	PSFM	RFFC	LALT	HDMV	RAYC	FLSA	PJFV	TIME	HAIL
FORH		0.81	0.81	0.7	0.59	0.34	0.38	0.77	0.68	0.85	FORH
PSFM	0.81		0.95	0.67	0.8	0.59	0.36	0.94	0.55	0.75	PSFM
RFFC	0.81	0.95		0.79	0.87	0.53	0.56	0.98	0.5	0.79	RFFC
LALT	0.7	0.67	0.79		0.77	0.12	0.76	0.77	0.33	0.68	LALT
HDMV	0.59	0.8	0.87	0.77		0.37	0.67	0.92	0.08	0.52	HDMV
RAYC	0.34	0.59	0.53	0.12	0.37		-0.07	0.53	0.31	0.39	RAYC
FLSA	0.38	0.36	0.56	0.76	0.67	-0.07		0.54	0.05	0.39	FLSA
PJFV	0.77	0.94	0.98	0.77	0.92	0.53	0.54		0.36	0.72	PJFV
TIME	0.68	0.55	0.5	0.33	0.08	0.31	0.05	0.36		0.74	TIME
HAIL	0.85	0.75	0.79	0.68	0.52	0.39	0.39	0.72	0.74		HAIL
	FORH	PSFM	RFFC	LALT	HDMV	RAYC	FLSA	PJFV	TIME	HAIL

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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

PJFV	+ 0.98	RFFC
RFFC	+ 0.95	PSFM
PJFV	+ 0.94	PSFM
PJFV	+ 0.92	HDMV
HDMV	+ 0.87	RFFC
HAIL	+ 0.85	FORH

High negative correlations

FLSA

- 0.07

RAYC

Formidable Fortress Constituents Risk-Adjusted Indicators

There is a big difference between Formidable Etf performing well and Formidable Fortress 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 Formidable Fortress' 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
FORH	0.68	(0.03)	(0.05)	0.02	0.88	(0.73)	1.36	(1.67)	4.56
PSFM	0.14	0.01	(0.23)	0.16	0.00	(0.16)	0.38	(0.26)	0.86
RFFC	0.62	0.03	0.03	0.10	0.70	(0.66)	1.11	(1.08)	3.37
LALT	0.44	0.09	0.05	1.79	0.45	(0.47)	0.87	(1.03)	3.42
HDMV	0.44	0.13	0.18	0.38	0.19	(0.52)	1.00	(0.78)	2.28
RAYC	0.69	0.10	0.03	15.13	0.88	(0.72)	1.81	(1.18)	7.60
FLSA	0.71	(0.01)	(0.07)	0.02	0.80	(0.80)	1.54	(1.48)	4.31
PJFV	0.59	0.06	0.06	0.14	0.68	(0.63)	1.17	(1.06)	3.45
TIME	0.67	(0.08)	0.00	(0.12)	0.00	0.00	1.06	(1.79)	5.18
HAIL	1.45	(0.11)	(0.04)	0.00	1.80	(1.60)	3.02	(3.18)	8.46

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