Strategy Shares Correlations

ROMO Etf

USD 32.57 0.07 0.22%

The current 90-days correlation between Strategy Shares Newf and Global X Funds is 0.77 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Strategy Shares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Strategy Shares NewfoundReSolve moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Strategy Shares Correlation With Market

Good diversification

The correlation between Strategy Shares NewfoundReSolv and DJI is -0.08 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategy Shares NewfoundReSolv and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Strategy Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Strategy Shares NewfoundReSolve. 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.

To learn how to invest in Strategy Etf, please use our How to Invest in Strategy Shares guide.

Moving together with Strategy Etf

0.82	SIXD	AIM ETF Products	Pair Corr
0.66	TRCFX	Popular Total Return	Pair Corr
0.82	FB	ProShares Trust ProShares	Pair Corr
0.79	SCHD	Schwab Dividend Equity	Pair Corr
0.89	TSMU	GraniteShares 2x Long	Pair Corr
0.92	DXUV	Dimensional ETF Trust	Pair Corr
0.94	SSUS	Day HaganNed Davis	Pair Corr
0.92	PQJL	PGIM Nasdaq 100	Pair Corr
0.93	ESN	Essential 40 Stock	Pair Corr
0.92	BJUN	Innovator SP 500	Pair Corr
0.91	SOXL	Direxion Daily Semic Aggressive Push	Pair Corr
0.95	RAUS	RACWI ETF	Pair Corr
0.88	FNDE	Schwab Fundamental	Pair Corr
0.85	GIAX	Nicholas Global Equity	Pair Corr
0.77	VB	Vanguard Small Cap	Pair Corr
0.9	FNDX	Schwab Fundamental Large	Pair Corr
0.96	SSXU	Day HaganNed Davis	Pair Corr
0.78	LBO	WHITEWOLF Publicly Listed	Pair Corr
0.83	SIXA	6 Meridian Mega	Pair Corr
0.85	DYLG	Global X Funds	Pair Corr
0.77	FIVA	Fidelity International	Pair Corr
0.88	OMFS	Oppenheimer Russell 2000	Pair Corr
0.94	PALC	Pacer Lunt Large	Pair Corr
0.95	SMH	VanEck Semiconductor ETF	Pair Corr
0.71	IAUM	iShares Gold Trust	Pair Corr
0.92	IVE	iShares SP 500	Pair Corr
0.67	XLE	Energy Select Sector Aggressive Push	Pair Corr
0.97	URTH	iShares MSCI World	Pair Corr
0.9	FEMS	First Trust Emerging	Pair Corr
0.93	VEA	Vanguard FTSE Developed	Pair Corr

Moving against Strategy Etf

0.86	VXX	iPath Series B	Pair Corr
0.85	VIXY	ProShares VIX Short	Pair Corr
0.85	VIXM	ProShares VIX Mid	Pair Corr
0.84	VXZ	iPath Series B	Pair Corr
0.47	YCL	ProShares Ultra Yen	Pair Corr
0.44	FXY	Invesco CurrencyShares	Pair Corr

Related Correlations Analysis

	EMM	DIVY	XNAV	MFUL	CRAK	UMDD	FSGS	IWMW	IRTR	PXJ
EMM		0.84	0.94	0.7	0.27	0.87	0.64	0.74	0.84	0.81	EMM
DIVY	0.84		0.88	0.62	0.09	0.94	0.7	0.66	0.83	0.71	DIVY
XNAV	0.94	0.88		0.81	0.19	0.94	0.78	0.87	0.9	0.76	XNAV
MFUL	0.7	0.62	0.81		0.01	0.74	0.91	0.86	0.9	0.46	MFUL
CRAK	0.27	0.09	0.19	0.01		0.11	-0.07	0.0	0.04	0.62	CRAK
UMDD	0.87	0.94	0.94	0.74	0.11		0.8	0.81	0.87	0.75	UMDD
FSGS	0.64	0.7	0.78	0.91	-0.07	0.8		0.82	0.88	0.43	FSGS
IWMW	0.74	0.66	0.87	0.86	0.0	0.81	0.82		0.79	0.5	IWMW
IRTR	0.84	0.83	0.9	0.9	0.04	0.87	0.88	0.79		0.6	IRTR
PXJ	0.81	0.71	0.76	0.46	0.62	0.75	0.43	0.5	0.6		PXJ
	EMM	DIVY	XNAV	MFUL	CRAK	UMDD	FSGS	IWMW	IRTR	PXJ

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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

XNAV	+ 0.94	EMM
UMDD	+ 0.94	DIVY
UMDD	+ 0.94	XNAV
FSGS	+ 0.91	MFUL
IRTR	+ 0.9	XNAV
IRTR	+ 0.9	MFUL

High negative correlations

FSGS	- 0.07	CRAK
IWMW	- 0.0	CRAK

Strategy Shares Constituents Risk-Adjusted Indicators

There is a big difference between Strategy Etf performing well and Strategy Shares 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 Strategy Shares' 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
EMM	0.65	0.17	0.07	(0.87)	0.72	(0.68)	1.52	(1.30)	3.42
DIVY	0.50	0.07	(0.01)	0.56	0.50	(0.56)	1.15	(1.15)	3.30
XNAV	0.68	0.12	0.01	(0.71)	0.91	(0.69)	1.27	(1.67)	4.37
MFUL	0.19	0.00	(0.31)	(0.01)	0.23	(0.20)	0.32	(0.37)	1.20
CRAK	0.84	0.13	0.06	0.59	0.80	(0.96)	2.22	(1.47)	5.71
UMDD	2.08	0.34	0.08	(0.75)	2.28	(2.22)	4.58	(4.00)	11.32
FSGS	0.66	0.02	(0.08)	(1.58)	0.85	(0.67)	1.51	(1.69)	3.24
IWMW	0.47	0.03	(0.07)	(0.27)	0.87	(0.43)	1.15	(1.43)	4.10
IRTR	0.22	0.02	(0.22)	(0.40)	0.21	(0.25)	0.46	(0.46)	1.24
PXJ	1.11	0.29	0.16	0.95	1.06	(1.33)	3.14	(2.45)	8.92

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