FIS Trust Correlations

PRAY Etf

USD 33.66 0.24 0.71%

The current 90-days correlation between FIS Trust and Defiance Daily Target is 0.13 (i.e., Average diversification). The correlation of FIS Trust 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.

FIS Trust Correlation With Market

Very poor diversification

The correlation between FIS Trust and DJI is 0.81 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding FIS Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with FIS Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in FIS Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with FIS Etf

0.65	VTI	Vanguard Total Stock	Pair Corr
0.61	SPY	SPDR SP 500	Pair Corr
0.61	IVV	iShares Core SP	Pair Corr
0.87	VIG	Vanguard Dividend	Pair Corr
0.93	RSP	Invesco SP 500	Pair Corr
0.61	IWB	iShares Russell 1000	Pair Corr
0.86	DFAC	Dimensional Core Equity	Pair Corr
0.92	SPLG	SSgA Symbol Change	Pair Corr
0.73	USD	ProShares Ultra Semi	Pair Corr
0.94	SMH	VanEck Semiconductor ETF	Pair Corr
0.95	SOXX	iShares Semiconductor ETF	Pair Corr
0.96	PSI	Invesco Dynamic Semi	Pair Corr
0.95	DISV	Dimensional ETF Trust	Pair Corr
0.94	BSMS	Invesco BulletShares 2028	Pair Corr
0.87	NAPR	Innovator Nasdaq 100	Pair Corr
0.91	FNDA	Schwab Fundamental Small	Pair Corr
0.95	DWM	WisdomTree International	Pair Corr
0.94	VYMI	Vanguard International	Pair Corr
0.63	BDEC	Innovator SP 500	Pair Corr
0.84	QTAP	Innovator Growth 100	Pair Corr
0.91	EMIF	iShares Emerging Markets	Pair Corr
0.74	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.9	ERET	iShares Environmentally	Pair Corr
0.89	KNGZ	First Trust Exchange	Pair Corr
0.72	PDEC	Innovator SP 500	Pair Corr
0.92	VLU	SPDR SP 1500	Pair Corr
0.92	DXJ	WisdomTree Japan Hedged	Pair Corr
0.96	CCNR	CoreCommodity Natural	Pair Corr
0.96	HEEM	iShares Currency Hedged Low Volatility	Pair Corr
0.94	JEPI	JPMorgan Equity Premium	Pair Corr
0.96	DFIC	Dimensional International	Pair Corr

Moving against FIS Etf

0.64	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.71	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	VEGA	LCR	SPXE	MARW	PRNT	MAYW	RSPC	GIAX	XBOC	HIMZ
VEGA		0.9	0.81	0.94	0.84	0.93	0.05	0.29	0.88	-0.72	VEGA
LCR	0.9		0.77	0.96	0.83	0.97	0.22	0.28	0.97	-0.66	LCR
SPXE	0.81	0.77		0.7	0.84	0.73	0.48	0.7	0.84	-0.24	SPXE
MARW	0.94	0.96	0.7		0.77	1.0	0.06	0.12	0.93	-0.79	MARW
PRNT	0.84	0.83	0.84	0.77		0.8	0.29	0.51	0.83	-0.44	PRNT
MAYW	0.93	0.97	0.73	1.0	0.8		0.1	0.16	0.95	-0.76	MAYW
RSPC	0.05	0.22	0.48	0.06	0.29	0.1		0.63	0.32	0.45	RSPC
GIAX	0.29	0.28	0.7	0.12	0.51	0.16	0.63		0.37	0.38	GIAX
XBOC	0.88	0.97	0.84	0.93	0.83	0.95	0.32	0.37		-0.55	XBOC
HIMZ	-0.72	-0.66	-0.24	-0.79	-0.44	-0.76	0.45	0.38	-0.55		HIMZ
	VEGA	LCR	SPXE	MARW	PRNT	MAYW	RSPC	GIAX	XBOC	HIMZ

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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

MAYW	+ 1.0	MARW
MAYW	+ 0.97	LCR
XBOC	+ 0.97	LCR
MARW	+ 0.96	LCR
XBOC	+ 0.95	MAYW
MARW	+ 0.94	VEGA

High negative correlations

HIMZ	- 0.79	MARW
HIMZ	- 0.76	MAYW
HIMZ	- 0.72	VEGA
HIMZ	- 0.66	LCR
HIMZ	- 0.55	XBOC
HIMZ	- 0.44	PRNT

FIS Trust Constituents Risk-Adjusted Indicators

There is a big difference between FIS Etf performing well and FIS Trust 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 FIS Trust'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
VEGA	0.44	0.07	(0.04)	(0.92)	0.52	(0.44)	1.01	(1.02)	2.72
LCR	0.38	0.01	(0.06)	0.11	0.34	(0.44)	0.78	(0.94)	2.78
SPXE	0.57	0.04	(0.08)	(0.22)	0.73	(0.58)	1.01	(1.44)	3.88
MARW	0.12	0.03	(0.24)	0.24	0.00	(0.14)	0.36	(0.21)	1.09
PRNT	0.97	0.07	(0.03)	(0.28)	1.20	(1.01)	2.32	(2.07)	7.89
MAYW	0.10	0.01	(0.41)	0.20	0.00	(0.11)	0.27	(0.21)	0.75
RSPC	0.61	(0.06)	(0.10)	(0.02)	0.92	(0.56)	1.09	(1.40)	3.94
GIAX	1.07	(0.02)	0.00	(0.28)	0.00	0.00	2.03	(2.74)	6.54
XBOC	0.28	0.01	(0.10)	0.11	0.31	(0.29)	0.61	(0.74)	2.20
HIMZ	5.87	(2.41)	0.00	3.01	0.00	0.00	8.06	(12.96)	50.97

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