Defiance Leveraged Correlations

MST Etf

3.56 0.21 5.57%

The current 90-days correlation between Defiance Leveraged Long and Lottery is 0.08 (i.e., Significant diversification). The correlation of Defiance Leveraged 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 Leveraged Correlation With Market

Excellent diversification

The correlation between Defiance Leveraged Long and DJI is -0.69 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Leveraged Long and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Defiance Etf

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

Moving together with Defiance Etf

0.84

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Moving against Defiance Etf

0.87	TAXT	Northern Trust Tax	Pair Corr
0.86	DIG	ProShares Ultra Oil	Pair Corr
0.83	MLPR	ETRACS Quarterly Pay	Pair Corr
0.78	DGP	DB Gold Double	Pair Corr
0.74	CEFD	ETRACS Monthly Pay	Pair Corr
0.73	UDN	Invesco DB Dollar	Pair Corr
0.65	NUGT	Direxion Daily Gold	Pair Corr
0.65	DUSL	Direxion Daily Indus	Pair Corr
0.54	UGL	ProShares Ultra Gold	Pair Corr
0.44	DFEN	Direxion Daily Aerospace	Pair Corr
0.89	DISV	Dimensional ETF Trust	Pair Corr
0.89	STXV	EA Series Trust	Pair Corr
0.88	DXJ	WisdomTree Japan Hedged	Pair Corr
0.87	ESGD	iShares ESG Aware	Pair Corr
0.86	MEXX	Direxion Daily MSCI	Pair Corr
0.85	FIDU	Fidelity MSCI Industrials	Pair Corr
0.82	FEM	First Trust Emerging	Pair Corr
0.8	IGEB	iShares Edge Investment	Pair Corr
0.72	AUMI	Themes Gold Miners	Pair Corr
0.72	GPGCX	Grandeur Peak Global	Pair Corr
0.71	FNK	First Trust Mid	Pair Corr
0.67	SPDV	AAM SP 500	Pair Corr
0.63	FTCS	First Trust Capital	Pair Corr
0.59	DAUG	FT Cboe Vest	Pair Corr
0.58	NAPR	Innovator Nasdaq 100	Pair Corr
0.56	RSST	Return Stacked Stocks	Pair Corr
0.51	UAUG	Innovator Equity Ultra	Pair Corr
0.87	ILOW	AB Active ETFs	Pair Corr
0.86	AVDS	Avantis International	Pair Corr
0.85	DFE	WisdomTree Europe	Pair Corr
0.84	CCNR	CoreCommodity Natural	Pair Corr
0.83	AHYB	American Century ETF	Pair Corr
0.82	HEEM	iShares Currency Hedged	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.08	-0.11	0.0	0.13	-0.21	-0.03	0.14	-0.01	0.15	META
MSFT	-0.08		0.84	-0.57	-0.87	0.83	0.92	0.41	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.53	-0.77	0.85	0.76	0.25	-0.82	-0.83	UBER
F	0.0	-0.57	-0.53		0.35	-0.43	-0.45	-0.1	0.64	0.58	F
T	0.13	-0.87	-0.77	0.35		-0.71	-0.87	-0.34	0.79	0.79	T
A	-0.21	0.83	0.85	-0.43	-0.71		0.71	0.36	-0.75	-0.85	A
CRM	-0.03	0.92	0.76	-0.45	-0.87	0.71		0.57	-0.84	-0.9	CRM
JPM	0.14	0.41	0.25	-0.1	-0.34	0.36	0.57		-0.25	-0.43	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.75	-0.84	-0.25		0.92	MRK
XOM	0.15	-0.95	-0.83	0.58	0.79	-0.85	-0.9	-0.43	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	+ 0.92	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.83	MSFT
MRK	+ 0.79	T

High negative correlations

XOM	- 0.95	MSFT
MRK	- 0.92	MSFT
XOM	- 0.9	CRM
CRM	- 0.87	T
T	- 0.87	MSFT
XOM	- 0.85	A

Defiance Leveraged Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Leveraged 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 Leveraged'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	1.45	0.03	0.01	0.08	1.59	(1.56)	2.38	(2.81)	13.69
MSFT	1.35	(0.25)	0.00	(0.52)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.58	(0.15)	0.00	(0.26)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.07)	0.00	(0.03)	0.00	0.00	3.61	(2.59)	9.82
T	1.06	0.19	0.12	(0.62)	0.93	(1.27)	3.87	(1.76)	7.44
A	1.22	(0.45)	0.00	(0.45)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.82	(0.20)	0.00	0.47	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.06)	(0.02)	0.00	1.84	(1.28)	2.34	(3.11)	8.17
MRK	1.21	0.19	0.11	0.54	1.27	(1.29)	2.54	(2.06)	7.10
XOM	1.32	0.44	0.27	2.84	1.08	(1.56)	2.90	(2.44)	6.83

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