Defiance Daily Correlations

QBTZ Etf

8.81 1.00 12.80%

The current 90-days correlation between Defiance Daily Target and Amplify Alternative Harvest is 0.21 (i.e., Modest 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

Excellent diversification

The correlation between Defiance Daily Target and DJI is -0.68 (i.e., Excellent 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 various price indices.

Moving together with Defiance Etf

0.63	SH	ProShares Short SP500	Pair Corr
0.66	SPXU	ProShares UltraPro Short	Pair Corr
0.65	SDS	ProShares UltraShort Sell-off Trend	Pair Corr
0.66	SPXS	Direxion Daily SP	Pair Corr
0.77	RWM	ProShares Short Russ	Pair Corr
0.62	SPDN	Direxion Daily SP Sell-off Trend	Pair Corr
0.71	TAIL	Cambria Tail Risk	Pair Corr
0.69	DOG	ProShares Short Dow30	Pair Corr
0.65	T	ATT Inc Earnings Call This Week	Pair Corr

Moving against Defiance Etf

0.74	HF	DGA Core Plus	Pair Corr
0.72	BUFF	Innovator Laddered	Pair Corr
0.68	DUKH	Ocean Park High	Pair Corr
0.65	AIQ	Global X Artificial	Pair Corr
0.56	EMES	Harbor ETF Trust	Pair Corr
0.81	BA	Boeing Earnings Call Tomorrow	Pair Corr
0.71	DIS	Walt Disney	Pair Corr
0.68	AA	Alcoa Corp	Pair Corr
0.58	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.51	GE	GE Aerospace	Pair Corr
0.45	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.41	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.38	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	0.27	-0.24	0.15	-0.12	0.53	-0.07	-0.28	-0.32	META
MSFT	0.56		0.78	-0.55	0.52	0.25	0.35	-0.25	-0.84	-0.74	MSFT
UBER	0.27	0.78		-0.47	0.42	0.45	0.01	-0.39	-0.8	-0.51	UBER
F	-0.24	-0.55	-0.47		-0.64	-0.13	0.07	0.59	0.68	0.62	F
T	0.15	0.52	0.42	-0.64		0.55	-0.19	-0.41	-0.49	-0.64	T
A	-0.12	0.25	0.45	-0.13	0.55		-0.32	-0.22	-0.25	-0.37	A
CRM	0.53	0.35	0.01	0.07	-0.19	-0.32		0.54	-0.09	-0.33	CRM
JPM	-0.07	-0.25	-0.39	0.59	-0.41	-0.22	0.54		0.48	0.17	JPM
MRK	-0.28	-0.84	-0.8	0.68	-0.49	-0.25	-0.09	0.48		0.74	MRK
XOM	-0.32	-0.74	-0.51	0.62	-0.64	-0.37	-0.33	0.17	0.74		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	+ 0.78	MSFT
XOM	+ 0.74	MRK
MRK	+ 0.68	F
XOM	+ 0.62	F
JPM	+ 0.59	F
MSFT	+ 0.56	META

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
XOM	- 0.74	MSFT
XOM	- 0.64	T
T	- 0.64	F
F	- 0.55	MSFT

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	1.42	(0.21)	0.00	(0.14)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.04	(0.18)	0.00	(0.50)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.24)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.50	0.11	0.10	0.14	1.32	(1.86)	3.69	(2.35)	16.30
T	0.87	(0.16)	0.00	(0.39)	0.00	0.00	1.53	(1.85)	4.30
A	1.21	(0.17)	0.00	(0.06)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.51	(0.23)	0.00	(0.13)	0.00	0.00	3.22	(3.10)	12.37
JPM	1.13	(0.11)	0.00	(0.01)	0.00	0.00	2.00	(3.11)	7.38
MRK	1.24	0.31	0.21	0.48	1.09	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.20	0.95	(1.22)	2.38	(1.51)	5.82

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