Anydrus Advantage Correlations

NDOW Etf

24.92 0.17 0.69%

The current 90-days correlation between Anydrus Advantage ETF and MFS Active Exchange is -0.04 (i.e., Good diversification). The correlation of Anydrus Advantage 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.

Anydrus Advantage Correlation With Market

Very weak diversification

The correlation between Anydrus Advantage ETF and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Anydrus Advantage ETF 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 Anydrus Advantage ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Anydrus Etf

0.92	AOA	iShares Core Aggressive	Pair Corr
0.62	HF	Tidal Trust II Earnings Call This Week	Pair Corr
0.73	RLY	SPDR SSgA Multi	Pair Corr
0.96	GAL	SPDR SSgA Global	Pair Corr
0.87	NTSI	WisdomTree International	Pair Corr
0.82	PPI	Investment Managers	Pair Corr
0.92	GAA	Cambria Global Asset	Pair Corr
0.89	GYLD	Arrow ETF Trust	Pair Corr
0.88	FCEF	First Trust Income	Pair Corr
0.82	PMBS	PIMCO Mortgage Backed	Pair Corr
0.93	QQEW	First Trust NASDAQ	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.69	HD	Home Depot	Pair Corr
0.71	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against Anydrus Etf

0.37	AMPD	Tidal Trust II	Pair Corr
0.68	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.36	-0.36	-0.24	0.24	0.77	0.4	0.13	0.29	-0.28	META
MSFT	0.36		-0.58	-0.23	0.48	0.2	0.55	0.3	-0.01	-0.46	MSFT
UBER	-0.36	-0.58		0.62	-0.19	-0.01	-0.47	0.06	-0.06	0.77	UBER
F	-0.24	-0.23	0.62		0.05	-0.2	0.01	-0.06	0.09	0.9	F
T	0.24	0.48	-0.19	0.05		0.11	0.51	0.59	-0.17	-0.17	T
A	0.77	0.2	-0.01	-0.2	0.11		0.1	0.26	0.25	-0.17	A
CRM	0.4	0.55	-0.47	0.01	0.51	0.1		0.0	0.27	-0.16	CRM
JPM	0.13	0.3	0.06	-0.06	0.59	0.26	0.0		-0.55	-0.24	JPM
MRK	0.29	-0.01	-0.06	0.09	-0.17	0.25	0.27	-0.55		0.16	MRK
XOM	-0.28	-0.46	0.77	0.9	-0.17	-0.17	-0.16	-0.24	0.16		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	+ 0.9	F
A	+ 0.77	META
XOM	+ 0.77	UBER
F	+ 0.62	UBER
JPM	+ 0.59	T
CRM	+ 0.55	MSFT

High negative correlations

UBER	- 0.58	MSFT
MRK	- 0.55	JPM
CRM	- 0.47	UBER
XOM	- 0.46	MSFT
UBER	- 0.36	META
XOM	- 0.28	META

Anydrus Advantage Competition Risk-Adjusted Indicators

There is a big difference between Anydrus Etf performing well and Anydrus Advantage 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 Anydrus Advantage'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	1.39	0.31	0.17	0.79	1.22	(1.63)	3.43	(1.95)	7.43
MSFT	1.12	(0.03)	0.00	(0.42)	0.00	0.00	2.20	(2.79)	7.31
UBER	1.46	(0.19)	0.00	(0.30)	0.00	0.00	2.67	(2.53)	12.29
F	1.47	(0.18)	0.00	(0.20)	0.00	0.00	2.57	(2.90)	11.21
T	1.00	0.10	0.04	0.30	1.08	(1.12)	1.91	(1.84)	7.94
A	1.15	0.13	0.04	1.36	1.14	(1.37)	2.81	(2.16)	5.70
CRM	1.55	0.28	0.13	0.81	1.42	(1.88)	3.96	(2.95)	14.80
JPM	1.05	0.25	0.15	0.96	1.05	(1.23)	1.92	(1.42)	15.87
MRK	1.03	(0.11)	0.00	(0.43)	0.00	0.00	2.00	(2.13)	5.24
XOM	0.82	(0.16)	0.00	(0.28)	0.00	0.00	1.71	(1.74)	6.06

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