Leverage Shares Correlations

NIOS Etf

258.50 15.50 6.38%

The current 90-days correlation between Leverage Shares 3x and Leverage Shares 3x is 0.02 (i.e., Significant diversification). The correlation of Leverage Shares 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.

Leverage Shares Correlation With Market

Good diversification

The correlation between Leverage Shares 3x and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leverage Shares 3x and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Leverage Shares could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Leverage Shares when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Leverage Shares - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Leverage Shares 3x to buy it.

Moving together with Leverage Etf

0.76

3LNG

WisdomTree Natural Gas

Pair Corr

Moving against Leverage Etf

0.82	SGBP	WisdomTree Short GBP	Pair Corr
0.82	NVD3	Leverage Shares 3x	Pair Corr
0.72	COI1	LS 1x Coinbase	Pair Corr
0.67	3CON	Leverage Shares 3x	Pair Corr
0.63	3PLT	Leverage Shares 3x	Pair Corr
0.61	QQQ5	Leverage Shares 5x	Pair Corr
0.56	3ARE	Leverage Shares 3x	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	-0.43	-0.25	0.54	0.31	0.65	0.42	-0.36	-0.28	META
MSFT	0.56		-0.57	-0.08	0.46	0.14	0.39	0.26	0.02	-0.8	MSFT
UBER	-0.43	-0.57		0.16	-0.72	0.1	-0.66	-0.5	0.43	0.52	UBER
F	-0.25	-0.08	0.16		0.14	-0.46	0.19	0.45	-0.27	0.3	F
T	0.54	0.46	-0.72	0.14		-0.3	0.89	0.85	-0.71	-0.34	T
A	0.31	0.14	0.1	-0.46	-0.3		-0.26	-0.47	0.57	-0.02	A
CRM	0.65	0.39	-0.66	0.19	0.89	-0.26		0.9	-0.82	-0.19	CRM
JPM	0.42	0.26	-0.5	0.45	0.85	-0.47	0.9		-0.85	-0.1	JPM
MRK	-0.36	0.02	0.43	-0.27	-0.71	0.57	-0.82	-0.85		-0.1	MRK
XOM	-0.28	-0.8	0.52	0.3	-0.34	-0.02	-0.19	-0.1	-0.1		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

JPM	+ 0.9	CRM
CRM	+ 0.89	T
JPM	+ 0.85	T
CRM	+ 0.65	META
MRK	+ 0.57	A
MSFT	+ 0.56	META

High negative correlations

MRK	- 0.85	JPM
MRK	- 0.82	CRM
XOM	- 0.8	MSFT
T	- 0.72	UBER
MRK	- 0.71	T
CRM	- 0.66	UBER

Leverage Shares Competition Risk-Adjusted Indicators

There is a big difference between Leverage Etf performing well and Leverage Shares 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 Leverage Shares' 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	1.15	0.20	0.12	0.49	1.26	(1.30)	3.22	(1.87)	8.02
MSFT	0.85	0.05	0.01	0.15	1.45	(0.81)	1.83	(1.57)	8.14
UBER	1.75	(0.27)	0.00	(0.92)	0.00	0.00	2.67	(5.35)	20.41
F	1.41	(0.08)	0.00	(0.37)	0.00	0.00	2.53	(2.90)	11.21
T	1.02	0.08	0.03	0.36	1.18	(1.10)	2.36	(1.99)	6.74
A	1.22	0.00	(0.03)	0.04	1.47	(1.32)	2.71	(2.41)	9.02
CRM	1.50	0.41	0.28	0.34	1.11	(1.75)	3.59	(1.93)	13.87
JPM	1.00	0.27	0.17	(1.00)	0.90	(1.19)	1.73	(1.42)	15.87
MRK	0.92	(0.25)	0.00	(1.41)	0.00	0.00	1.72	(2.17)	5.17
XOM	0.91	(0.07)	0.00	(0.20)	0.00	0.00	1.83	(2.14)	6.06

Leverage Shares Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Leverage Shares etf to make a market-neutral strategy. Peer analysis of Leverage Shares could also be used in its relative valuation, which is a method of valuing Leverage Shares by comparing valuation metrics with similar companies.

Leverage Shares 3x Leverage Shares 3x Leverage Shares 2x Leverage Shares 1x Leverage Shares 3x Leverage Shares 3x Leverage Shares 1x Leverage Shares 2x Leverage Shares 1x American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

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