Exchange Traded Correlations

NUKZ Etf

45.51 0.11 0.24%

The current 90-days correlation between Exchange Traded Concepts and Global X FinTech is 0.44 (i.e., Very weak diversification). The correlation of Exchange Traded 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.

Exchange Traded Correlation With Market

Very weak diversification

The correlation between Exchange Traded Concepts and DJI is 0.52 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Exchange Traded Concepts 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 Exchange Traded Concepts. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with Exchange Etf

0.7	XT	iShares Exponential	Pair Corr
0.86	BOTZ	Global X Robotics	Pair Corr
0.76	DRIV	Global X Autonomous	Pair Corr
0.86	IPAY	Amplify ETF Trust	Pair Corr
0.96	DSJA	DSJA	Pair Corr
0.92	RSPY	Tuttle Capital Management	Pair Corr
0.86	MEME	Roundhill Investments	Pair Corr
0.72	ITDD	iShares Trust	Pair Corr
0.95	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.89	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.65	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.78	HD	Home Depot Sell-off Trend	Pair Corr
0.97	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.83	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.83	BAC	Bank of America Aggressive Push	Pair Corr
0.77	DIS	Walt Disney Aggressive Push	Pair Corr
0.76	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Moving against Exchange Etf

0.82	ICLN	iShares Global Clean	Pair Corr
0.65	TAN	Invesco Solar ETF	Pair Corr
0.53	MJ	Amplify ETF Trust	Pair Corr
0.47	MSOS	AdvisorShares Pure	Pair Corr
0.32	ACES	ALPS Clean Energy	Pair Corr
0.91	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.83	KO	Coca Cola Sell-off Trend	Pair Corr
0.65	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.4	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FINX	IDNA	AAVXF	444859BR2	SCRYY	AQUI	IPSHX	APAAX	BRRAY	MSTSX
FINX		-0.34	0.0	-0.69	0.72	0.0	0.97	-0.25	-0.04	0.43	FINX
IDNA	-0.34		0.0	0.35	-0.56	0.0	-0.22	-0.09	0.19	0.09	IDNA
AAVXF	0.0	0.0		0.0	0.0	-1.0	0.0	0.0	0.0	0.0	AAVXF
444859BR2	-0.69	0.35	0.0		-0.48	0.0	-0.67	0.05	0.22	-0.53	444859BR2
SCRYY	0.72	-0.56	0.0	-0.48		0.0	0.7	0.13	-0.15	0.37	SCRYY
AQUI	0.0	0.0	-1.0	0.0	0.0		0.0	0.0	0.0	0.0	AQUI
IPSHX	0.97	-0.22	0.0	-0.67	0.7	0.0		-0.17	-0.08	0.56	IPSHX
APAAX	-0.25	-0.09	0.0	0.05	0.13	0.0	-0.17		-0.4	0.33	APAAX
BRRAY	-0.04	0.19	0.0	0.22	-0.15	0.0	-0.08	-0.4		-0.45	BRRAY
MSTSX	0.43	0.09	0.0	-0.53	0.37	0.0	0.56	0.33	-0.45		MSTSX
	FINX	IDNA	AAVXF	444859BR2	SCRYY	AQUI	IPSHX	APAAX	BRRAY	MSTSX

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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

IPSHX	+ 0.97	FINX
SCRYY	+ 0.72	FINX
IPSHX	+ 0.7	SCRYY
MSTSX	+ 0.56	IPSHX
MSTSX	+ 0.43	FINX
MSTSX	+ 0.37	SCRYY

High negative correlations

AQUI	- 1.0	AAVXF
444859BR2	- 0.69	FINX
IPSHX	- 0.67	444859BR2
SCRYY	- 0.56	IDNA
MSTSX	- 0.53	444859BR2
SCRYY	- 0.48	444859BR2

Exchange Traded Constituents Risk-Adjusted Indicators

There is a big difference between Exchange Etf performing well and Exchange Traded 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 Exchange Traded'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
FINX	1.05	0.16	0.20	0.24	0.74	(1.30)	2.50	(1.60)	6.23
IDNA	0.87	(0.18)	0.00	(0.05)	0.00	0.00	1.74	(2.24)	6.20
AAVXF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
444859BR2	1.35	(0.09)	0.00	(0.14)	0.00	0.00	5.93	(5.79)	16.62
SCRYY	2.09	0.30	0.05	(0.60)	2.04	(2.91)	5.61	(4.09)	12.99
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
IPSHX	0.55	0.03	0.02	0.15	0.45	(0.68)	1.13	(0.98)	3.97
APAAX	0.13	0.00	(0.39)	0.09	0.16	(0.18)	0.31	(0.31)	1.13
BRRAY	1.27	(0.13)	0.00	0.01	0.00	0.00	0.00	(2.98)	34.02
MSTSX	0.49	(0.04)	(0.13)	0.06	0.52	(0.61)	1.21	(1.02)	2.80

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