Defiance Leveraged Correlations

PLT Etf

USD 12.38 0.12 0.96%

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

Very good diversification

The correlation between Defiance Leveraged Long and DJI is -0.36 (i.e., Very good 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.

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Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving against Defiance Etf

0.55	RDIV	Invesco SP Ultra	Pair Corr
0.51	XTJA	Innovator ETFs Trust	Pair Corr
0.5	QTJA	Innovator ETFs Trust	Pair Corr
0.48	QTAP	Innovator Growth 100	Pair Corr
0.47	OASC	OneAscent Small Cap	Pair Corr
0.45	XTAP	Innovator Equity Acc	Pair Corr
0.45	GAPR	First Trust Exchange	Pair Corr
0.43	UDN	Invesco DB Dollar	Pair Corr
0.43	XTOC	Innovator ETFs Trust	Pair Corr
0.42	QTOC	Innovator ETFs Trust	Pair Corr
0.42	VBK	Vanguard Small Cap	Pair Corr
0.38	CEFD	ETRACS Monthly Pay	Pair Corr
0.34	YCS	ProShares UltraShort Yen	Pair Corr
0.31	UPRO	ProShares UltraPro SP500	Pair Corr
0.65	JNJ	Johnson Johnson	Pair Corr
0.58	PFE	Pfizer Inc	Pair Corr
0.55	CSCO	Cisco Systems Earnings Call This Week	Pair Corr
0.54	KO	Coca Cola Aggressive Push	Pair Corr
0.52	AHYB	American Century ETF	Pair Corr
0.5	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.49	MCD	McDonalds Earnings Call This Week	Pair Corr
0.44	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.41	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.35	CVX	Chevron Corp	Pair Corr
0.32	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.21	-0.28	0.35	0.07	-0.51	0.08	0.24	0.28	0.37	META
MSFT	-0.21		0.72	-0.55	-0.07	0.43	0.56	0.03	-0.79	-0.79	MSFT
UBER	-0.28	0.72		-0.49	0.14	0.55	0.16	-0.16	-0.79	-0.55	UBER
F	0.35	-0.55	-0.49		-0.36	-0.31	-0.06	0.38	0.7	0.65	F
T	0.07	-0.07	0.14	-0.36		0.25	-0.42	-0.21	-0.15	-0.08	T
A	-0.51	0.43	0.55	-0.31	0.25		0.06	-0.05	-0.37	-0.6	A
CRM	0.08	0.56	0.16	-0.06	-0.42	0.06		0.64	-0.24	-0.59	CRM
JPM	0.24	0.03	-0.16	0.38	-0.21	-0.05	0.64		0.25	-0.14	JPM
MRK	0.28	-0.79	-0.79	0.7	-0.15	-0.37	-0.24	0.25		0.7	MRK
XOM	0.37	-0.79	-0.55	0.65	-0.08	-0.6	-0.59	-0.14	0.7		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

UBER	+ 0.72	MSFT
MRK	+ 0.7	F
XOM	+ 0.7	MRK
XOM	+ 0.65	F
JPM	+ 0.64	CRM
CRM	+ 0.56	MSFT

High negative correlations

MRK	- 0.79	UBER
XOM	- 0.79	MSFT
MRK	- 0.79	MSFT
XOM	- 0.6	A
XOM	- 0.59	CRM
XOM	- 0.55	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	1.66	(0.15)	0.00	(0.10)	0.00	0.00	3.43	(2.72)	13.36
MSFT	1.26	(0.41)	0.00	(2.17)	0.00	0.00	1.78	(2.74)	13.28
UBER	1.51	(0.33)	0.00	(0.37)	0.00	0.00	2.46	(3.82)	10.23
F	1.23	0.03	0.02	0.07	1.22	(1.48)	3.38	(2.35)	7.16
T	0.95	0.11	0.07	0.54	0.94	(1.05)	2.02	(1.76)	4.31
A	1.21	(0.17)	0.00	(0.09)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.65	(0.40)	0.00	(0.33)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.13	0.00	0.01	0.04	1.63	(1.16)	2.18	(3.11)	7.38
MRK	1.30	0.43	0.30	0.61	1.09	(1.61)	3.59	(1.98)	8.09
XOM	1.14	0.33	0.22	(21.90)	0.99	(1.33)	2.41	(2.11)	5.85

Defiance Leveraged 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 Defiance Leveraged etf to make a market-neutral strategy. Peer analysis of Defiance Leveraged could also be used in its relative valuation, which is a method of valuing Defiance Leveraged by comparing valuation metrics with similar companies.

Defiance ETFs Defiance Enhanced Long Defiance ETFs Defiance Leveraged Long Defiance ETFs Defiance 5G Next Defiance Leveraged Long Defiance ETFs American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne CVS Health Corp

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