Defiance Daily Correlations

PLTZ Etf

24.13 0.13 0.54%

The current 90-days correlation between Defiance Daily Target and AXS 15X PYPL is -0.03 (i.e., Good diversification). The correlation of Defiance Daily 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 Daily Correlation With Market

Very good diversification

The correlation between Defiance Daily Target and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Daily Target 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, which includes a position in Defiance Daily Target. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Defiance Etf

0.78	SH	ProShares Short SP500	Pair Corr
0.72	PSQ	ProShares Short QQQ	Pair Corr
0.78	SPXU	ProShares UltraPro Short	Pair Corr
0.78	SDS	ProShares UltraShort	Pair Corr
0.78	SPXS	Direxion Daily SP	Pair Corr
0.76	QID	ProShares UltraShort QQQ	Pair Corr
0.64	RWM	ProShares Short Russ	Pair Corr
0.78	SPDN	Direxion Daily SP	Pair Corr
0.77	TAIL	Cambria Tail Risk	Pair Corr
0.76	DOG	ProShares Short Dow30	Pair Corr
0.7	T	ATT Inc	Pair Corr

Moving against Defiance Etf

0.52	USD	ProShares Ultra Semi	Pair Corr
0.48	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.43	BULZ	MicroSectors Solactive	Pair Corr
0.7	BAC	Bank of America	Pair Corr
0.67	AXP	American Express	Pair Corr
0.54	CAT	Caterpillar	Pair Corr
0.54	DIS	Walt Disney	Pair Corr
0.52	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.46	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.41	INTC	Intel Aggressive Push	Pair Corr
0.39	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.36	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.61	0.35	-0.45	0.24	-0.34	0.35	-0.22	-0.36	-0.45	META
MSFT	0.61		0.83	-0.54	0.43	-0.05	0.0	-0.51	-0.82	-0.65	MSFT
UBER	0.35	0.83		-0.51	0.45	0.21	-0.2	-0.52	-0.82	-0.6	UBER
F	-0.45	-0.54	-0.51		-0.69	0.14	0.33	0.65	0.69	0.78	F
T	0.24	0.43	0.45	-0.69		0.24	-0.61	-0.65	-0.48	-0.61	T
A	-0.34	-0.05	0.21	0.14	0.24		-0.55	-0.25	-0.02	0.04	A
CRM	0.35	0.0	-0.2	0.33	-0.61	-0.55		0.55	0.24	0.27	CRM
JPM	-0.22	-0.51	-0.52	0.65	-0.65	-0.25	0.55		0.69	0.67	JPM
MRK	-0.36	-0.82	-0.82	0.69	-0.48	-0.02	0.24	0.69		0.8	MRK
XOM	-0.45	-0.65	-0.6	0.78	-0.61	0.04	0.27	0.67	0.8		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	+ 0.83	MSFT
XOM	+ 0.8	MRK
XOM	+ 0.78	F
MRK	+ 0.69	F
MRK	+ 0.69	JPM
XOM	+ 0.67	JPM

High negative correlations

MRK	- 0.82	UBER
MRK	- 0.82	MSFT
T	- 0.69	F
JPM	- 0.65	T
XOM	- 0.65	MSFT
XOM	- 0.61	T

Defiance Daily Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Daily 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 Daily'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	1.36	(0.24)	0.00	(0.91)	0.00	0.00	2.30	(2.72)	13.46
MSFT	0.93	(0.14)	0.00	1.10	0.00	0.00	1.65	(2.50)	4.90
UBER	1.49	(0.09)	0.00	0.25	0.00	0.00	2.60	(3.82)	10.23
F	1.41	0.31	0.14	1.78	1.26	(1.68)	3.38	(2.35)	16.30
T	0.90	(0.14)	0.00	3.37	0.00	0.00	1.63	(1.85)	5.78
A	1.09	(0.02)	(0.01)	0.09	1.19	(1.20)	2.34	(2.09)	6.50
CRM	1.60	(0.01)	(0.05)	0.55	2.36	(1.55)	3.66	(3.61)	9.91
JPM	1.18	0.02	(0.04)	0.25	1.67	(1.19)	2.34	(2.34)	7.02
MRK	1.22	0.30	0.18	0.88	1.06	(1.52)	3.59	(1.98)	8.09
XOM	1.06	0.12	0.06	0.33	1.05	(1.18)	2.21	(1.93)	5.82

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