Defiance Leveraged Correlations

MST Etf

3.80 1.26 49.61%

The current 90-days correlation between Defiance Leveraged Long and Defiance Daily Target is 0.58 (i.e., Very weak 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 -0.56 (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

0.63	VXX	iPath Series B Downward Rally	Pair Corr
0.63	VIXY	ProShares VIX Short Downward Rally	Pair Corr
0.63	VIXM	ProShares VIX Mid	Pair Corr
0.61	EUO	ProShares UltraShort Euro	Pair Corr
0.63	VXZ	iPath Series B	Pair Corr
0.67	HPQ	HP Inc	Pair Corr

Moving against Defiance Etf

0.72	XTAP	Innovator Equity Acc	Pair Corr
0.71	GAPR	First Trust Exchange	Pair Corr
0.68	QTAP	Innovator Growth 100	Pair Corr
0.67	OASC	OneAscent Small Cap	Pair Corr
0.66	UDN	Invesco DB Dollar	Pair Corr
0.66	XTJA	Innovator ETFs Trust	Pair Corr
0.61	YCS	ProShares UltraShort Yen	Pair Corr
0.61	RDIV	Invesco SP Ultra	Pair Corr
0.55	XTOC	Innovator ETFs Trust	Pair Corr
0.51	QTJA	Innovator ETFs Trust	Pair Corr
0.45	VBK	Vanguard Small Cap	Pair Corr
0.39	CEFD	ETRACS Monthly Pay	Pair Corr
0.38	QTOC	Innovator ETFs Trust	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.78	AHYB	American Century ETF	Pair Corr
0.73	BINC	BlackRock ETF Trust	Pair Corr
0.68	MCD	McDonalds Earnings Call This Week	Pair Corr
0.65	DD	Dupont De Nemours Earnings Call Today	Pair Corr
0.64	CSCO	Cisco Systems Earnings Call Tomorrow	Pair Corr
0.62	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.57	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.52	BA	Boeing	Pair Corr
0.51	KO	Coca Cola Aggressive Push	Pair Corr
0.45	TRV	The Travelers Companies	Pair Corr
0.43	CVX	Chevron Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.45	-0.5	0.47	0.14	-0.57	-0.04	0.32	0.49	0.47	META
MSFT	-0.45		0.73	-0.53	-0.42	0.59	0.71	0.01	-0.8	-0.87	MSFT
UBER	-0.5	0.73		-0.48	-0.15	0.66	0.32	-0.16	-0.8	-0.63	UBER
F	0.47	-0.53	-0.48		-0.17	-0.35	-0.13	0.38	0.7	0.63	F
T	0.14	-0.42	-0.15	-0.17		-0.05	-0.6	-0.11	0.14	0.28	T
A	-0.57	0.59	0.66	-0.35	-0.05		0.26	-0.08	-0.49	-0.68	A
CRM	-0.04	0.71	0.32	-0.13	-0.6	0.26		0.5	-0.38	-0.7	CRM
JPM	0.32	0.01	-0.16	0.38	-0.11	-0.08	0.5		0.25	-0.07	JPM
MRK	0.49	-0.8	-0.8	0.7	0.14	-0.49	-0.38	0.25		0.76	MRK
XOM	0.47	-0.87	-0.63	0.63	0.28	-0.68	-0.7	-0.07	0.76		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

XOM	+ 0.76	MRK
UBER	+ 0.73	MSFT
CRM	+ 0.71	MSFT
MRK	+ 0.7	F
A	+ 0.66	UBER
XOM	+ 0.63	F

High negative correlations

XOM	- 0.87	MSFT
MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.7	CRM
XOM	- 0.68	A
XOM	- 0.63	UBER

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	1.51	0.02	(0.01)	0.11	1.55	(1.74)	3.43	(2.67)	13.69
MSFT	1.32	(0.41)	0.00	(0.89)	0.00	0.00	1.85	(2.74)	13.28
UBER	1.55	(0.47)	0.00	(0.70)	0.00	0.00	2.41	(5.06)	11.09
F	1.22	0.03	0.02	0.11	1.20	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.09	1.52	0.83	(1.06)	2.02	(1.54)	4.32
A	1.21	(0.26)	0.00	(0.14)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.71	(0.54)	0.00	(0.39)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.20	(0.04)	0.00	0.05	1.67	(1.24)	2.34	(3.11)	7.38
MRK	1.26	0.56	0.43	0.97	0.69	(1.62)	3.59	(1.93)	8.09
XOM	1.17	0.41	0.26	3.45	0.94	(1.39)	2.69	(2.11)	5.85

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