Defiance Leveraged Correlations

PLT Etf

USD 12.38 0.12 0.96%

The current 90-days correlation between Defiance Leveraged Long and Lottery is 0.05 (i.e., Significant 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

Very good diversification

The correlation between Defiance Leveraged Long and DJI is -0.41 (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.

Build AI portfolio with Defiance Etf

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 board of governors.

Moving together with Defiance Etf

0.64

FNGU

MicroSectors FANG Index Symbol Change

Pair Corr

Moving against Defiance Etf

0.43	DFEN	Direxion Daily Aerospace	Pair Corr
0.35	DGP	DB Gold Double	Pair Corr
0.35	DIG	ProShares Ultra Oil	Pair Corr
0.34	NUGT	Direxion Daily Gold	Pair Corr
0.33	UDN	Invesco DB Dollar	Pair Corr
0.32	CEFD	ETRACS Monthly Pay	Pair Corr
0.32	UGL	ProShares Ultra Gold	Pair Corr
0.5	TAXT	Northern Trust Tax	Pair Corr
0.49	IGEB	iShares Edge Investment	Pair Corr
0.48	NAPR	Innovator Nasdaq 100	Pair Corr
0.48	DXJ	WisdomTree Japan Hedged	Pair Corr
0.46	DISV	Dimensional ETF Trust	Pair Corr
0.46	ESGD	iShares ESG Aware	Pair Corr
0.45	DUSL	Direxion Daily Indus	Pair Corr
0.45	STXV	EA Series Trust	Pair Corr
0.42	FTCS	First Trust Capital	Pair Corr
0.42	FNK	First Trust Mid	Pair Corr
0.42	SPDV	AAM SP 500	Pair Corr
0.41	AUMI	Themes Gold Miners	Pair Corr
0.4	MEXX	Direxion Daily MSCI	Pair Corr
0.4	UAUG	Innovator Equity Ultra	Pair Corr
0.39	DAUG	FT Cboe Vest	Pair Corr
0.39	RSST	Return Stacked Stocks	Pair Corr
0.38	FEM	First Trust Emerging	Pair Corr
0.54	GPGCX	Grandeur Peak Global	Pair Corr
0.5	AHYB	American Century ETF	Pair Corr
0.49	ILOW	AB Active ETFs	Pair Corr
0.48	QTAP	Innovator Growth 100	Pair Corr
0.48	VYMI	Vanguard International	Pair Corr
0.44	AVMC	American Century ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

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	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

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.

Morningstar Unconstrained Allocation Thrivent High Yield Via Renewables T Rowe Price WisdomTree Quantum Computing Oshidori International Holdings Sitka Gold Corp MSCI ACWI exAUCONSUMER Sycamore Entmt Grp Lottery American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

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