Amplify ETF Correlations

MJ Etf

USD 2.12 0.07 3.41%

The current 90-days correlation between Amplify ETF Trust and Cronos Group is 0.64 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Amplify ETF moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Amplify ETF Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Amplify ETF Correlation With Market

Significant diversification

The correlation between Amplify ETF Trust and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify ETF Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Amplify ETF Trust. 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.

For more information on how to buy Amplify Etf please use our How to buy in Amplify Etf guide.

Moving together with Amplify Etf

0.96	ICLN	iShares Global Clean	Pair Corr
0.87	TAN	Invesco Solar ETF	Pair Corr
0.62	ACES	ALPS Clean Energy	Pair Corr
0.99	MSOS	AdvisorShares Pure	Pair Corr
0.76	GREI	Goldman Sachs Future	Pair Corr
0.92	BITI	ProShares Trust	Pair Corr
0.7	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.86	JNJ	Johnson Johnson	Pair Corr
0.65	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.65	HPQ	HP Inc	Pair Corr

Moving against Amplify Etf

0.89	PULS	PGIM Ultra Short	Pair Corr
0.85	CPST	Calamos ETF Trust	Pair Corr
0.73	IPAY	Amplify ETF Trust	Pair Corr
0.71	SPAQ	Horizon Kinetics SPAC	Pair Corr
0.63	MPAY	Akros Monthly Payout	Pair Corr
0.61	DRIV	Global X Autonomous	Pair Corr
0.4	XT	iShares Exponential	Pair Corr
0.33	RFDA	RiverFront Dynamic	Pair Corr
0.31	BOTZ	Global X Robotics	Pair Corr
0.87	AXP	American Express	Pair Corr
0.75	JPM	JPMorgan Chase	Pair Corr
0.71	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.66	BAC	Bank of America Sell-off Trend	Pair Corr
0.56	MMM	3M Company	Pair Corr
0.42	MSFT	Microsoft Downward Rally	Pair Corr

Related Correlations Analysis

	CRON	YOLO	CGC	CURLF	TLRY
CRON		0.86	0.84	0.84	0.86	CRON
YOLO	0.86		0.94	0.99	0.9	YOLO
CGC	0.84	0.94		0.94	0.86	CGC
CURLF	0.84	0.99	0.94		0.87	CURLF
TLRY	0.86	0.9	0.86	0.87		TLRY
	CRON	YOLO	CGC	CURLF	TLRY

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Amplify ETF Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify ETF 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 ETF'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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
CRON	1.76	(0.21)	(0.30)	3.35	(3.65)	19.33
YOLO	2.06	(0.63)	(1.50)	2.98	(3.70)	18.43
CGC	3.39	(1.25)	(1.25)	5.88	(7.32)	34.07
CURLF	4.21	(1.06)	(9.23)	9.80	(6.92)	35.20
TLRY	3.14	(0.58)	(0.45)	8.62	(6.04)	23.71

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