Defiance Nasdaq Correlations

QQQT Etf

19.44 0.18 0.93%

The current 90-days correlation between Defiance Nasdaq 100 and Global X SP is 0.84 (i.e., Very poor diversification). The correlation of Defiance Nasdaq 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 Nasdaq Correlation With Market

Poor diversification

The correlation between Defiance Nasdaq 100 and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Nasdaq 100 and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Defiance Nasdaq 100. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with Defiance Etf

0.93	JEPI	JPMorgan Equity Premium	Pair Corr
0.96	XYLD	Global X SP	Pair Corr
0.9	DIVO	Amplify CWP Enhanced	Pair Corr
0.91	RYLD	Global X Russell	Pair Corr
0.94	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.94	NUSI	NEOS ETF Trust	Pair Corr
0.64	KNG	FT Cboe Vest	Pair Corr
0.79	SIXH	ETC 6 Meridian	Pair Corr
0.93	BUYW	Main Buywrite ETF	Pair Corr
0.89	NVDL	GraniteShares 15x Long	Pair Corr
0.89	NVDX	T Rex 2X	Pair Corr
0.89	NVDU	Direxion Daily NVDA	Pair Corr
0.88	CRPT	First Trust SkyBridge	Pair Corr
0.76	BITX	Volatility Shares Trust	Pair Corr
0.76	CONL	GraniteShares ETF Trust	Pair Corr
0.86	DAPP	VanEck Digital Trans	Pair Corr
0.77	DPST	Direxion Daily Regional	Pair Corr
0.88	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.66	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.93	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.87	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.9	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.93	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.72	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.79	HPQ	HP Inc	Pair Corr
0.8	BAC	Bank of America Aggressive Push	Pair Corr
0.84	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.73	DIS	Walt Disney Sell-off Trend	Pair Corr

Moving against Defiance Etf

0.81	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.76	KO	Coca Cola Aggressive Push	Pair Corr
0.69	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.61	PFE	Pfizer Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.26	0.55	0.07	0.53	0.05	0.64	0.28	-0.53	0.73	META
MSFT	0.26		0.21	0.17	0.16	-0.01	0.03	-0.11	0.13	-0.2	MSFT
UBER	0.55	0.21		-0.06	-0.09	0.27	-0.03	-0.16	0.09	0.35	UBER
F	0.07	0.17	-0.06		0.28	-0.41	0.5	0.7	-0.37	0.32	F
T	0.53	0.16	-0.09	0.28		-0.5	0.81	0.64	-0.79	0.39	T
A	0.05	-0.01	0.27	-0.41	-0.5		-0.46	-0.6	0.63	0.0	A
CRM	0.64	0.03	-0.03	0.5	0.81	-0.46		0.86	-0.91	0.65	CRM
JPM	0.28	-0.11	-0.16	0.7	0.64	-0.6	0.86		-0.83	0.47	JPM
MRK	-0.53	0.13	0.09	-0.37	-0.79	0.63	-0.91	-0.83		-0.56	MRK
XOM	0.73	-0.2	0.35	0.32	0.39	0.0	0.65	0.47	-0.56		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

JPM	+ 0.86	CRM
CRM	+ 0.81	T
XOM	+ 0.73	META
JPM	+ 0.7	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.79	T
JPM	- 0.6	A
XOM	- 0.56	MRK
MRK	- 0.53	META

Defiance Nasdaq Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Nasdaq 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 Nasdaq'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	1.07	0.07	0.02	0.23	1.41	(1.14)	2.62	(3.15)	8.02
MSFT	0.90	(0.04)	(0.05)	0.07	1.50	(0.86)	2.09	(1.85)	8.19
UBER	1.61	(0.11)	(0.04)	0.02	2.32	(1.70)	2.69	(2.53)	20.10
F	1.42	(0.15)	(0.04)	0.03	2.23	(1.39)	2.53	(2.90)	11.21
T	0.92	0.26	0.12	(7.83)	0.86	(1.06)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.06)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.31	0.23	0.18	0.34	1.08	(1.53)	3.18	(1.91)	9.98
JPM	1.12	(0.04)	0.05	0.11	1.38	(1.23)	2.05	(2.00)	15.87
MRK	0.91	(0.24)	0.00	(0.86)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.00	(0.03)	(0.07)	0.06	1.31	(1.04)	2.10	(2.09)	5.74

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