Strategy Shares Correlations

ROMO Etf

USD 32.21 0.10 0.31%

The current 90-days correlation between Strategy Shares Newf and Global X Funds is 0.83 (i.e., Very 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

Very poor diversification

The correlation between Strategy Shares NewfoundReSolv 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 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

0.76	MUU	Direxion Daily MU	Pair Corr
0.7	MULL	GraniteShares 2x Long	Pair Corr
0.61	AGQ	ProShares Ultra Silver	Pair Corr
0.77	KORU	Direxion Daily South	Pair Corr
0.9	DDFO	Innovator Equity Dual	Pair Corr
0.7	OUSA	ALPS ETF Trust	Pair Corr
0.75	EVMT	Invesco Electric Vehicle	Pair Corr
0.7	TMH	Precidian ETFs Trust	Pair Corr
0.8	IDEC	Innovator ETFs Trust	Pair Corr
0.67	MYCL	SPDR SSGA My2032	Pair Corr
0.62	CALI	iShares Short Term	Pair Corr
0.79	PJFM	PGIM ETF Trust	Pair Corr
0.88	SCHF	Schwab International	Pair Corr
0.75	CPSL	Calamos Laddered	Pair Corr
0.82	NJAN	Innovator Nasdaq 100	Pair Corr
0.72	ICOP	iShares Copper	Pair Corr

Moving against Strategy Etf

0.34

IONZ

Defiance Daily Target

Pair Corr

Related Correlations Analysis

	EMM	DIVY	XNAV	MFUL	CRAK	UMDD	FSGS	IWMW	IRTR	PXJ
EMM		0.7	0.88	0.48	0.36	0.56	0.27	0.58	0.82	0.65	EMM
DIVY	0.7		0.78	0.41	0.17	0.8	0.5	0.44	0.78	0.54	DIVY
XNAV	0.88	0.78		0.74	0.15	0.77	0.59	0.78	0.86	0.49	XNAV
MFUL	0.48	0.41	0.74		-0.27	0.65	0.86	0.89	0.58	-0.03	MFUL
CRAK	0.36	0.17	0.15	-0.27		-0.12	-0.4	-0.08	0.28	0.84	CRAK
UMDD	0.56	0.8	0.77	0.65	-0.12		0.68	0.6	0.82	0.25	UMDD
FSGS	0.27	0.5	0.59	0.86	-0.4	0.68		0.77	0.43	-0.13	FSGS
IWMW	0.58	0.44	0.78	0.89	-0.08	0.6	0.77		0.62	0.14	IWMW
IRTR	0.82	0.78	0.86	0.58	0.28	0.82	0.43	0.62		0.57	IRTR
PXJ	0.65	0.54	0.49	-0.03	0.84	0.25	-0.13	0.14	0.57		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

IWMW	+ 0.89	MFUL
XNAV	+ 0.88	EMM
IRTR	+ 0.86	XNAV
FSGS	+ 0.86	MFUL
PXJ	+ 0.84	CRAK
IRTR	+ 0.82	EMM

High negative correlations

FSGS	- 0.4	CRAK
CRAK	- 0.27	MFUL
PXJ	- 0.13	FSGS
UMDD	- 0.12	CRAK
IWMW	- 0.08	CRAK
PXJ	- 0.03	MFUL

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	0.77	0.11	0.08	0.21	0.94	(0.78)	1.52	(1.60)	5.19
DIVY	0.56	(0.02)	(0.05)	0.04	0.74	(0.55)	1.03	(1.20)	3.12
XNAV	0.82	0.02	0.01	0.08	1.08	(0.82)	1.84	(1.85)	4.37
MFUL	0.19	(0.02)	(0.25)	(0.02)	0.24	(0.21)	0.37	(0.37)	1.20
CRAK	0.86	0.05	0.02	0.15	0.99	(0.90)	2.22	(1.97)	5.71
UMDD	2.37	0.16	0.04	0.29	3.00	(2.31)	5.68	(4.92)	11.99
FSGS	0.75	(0.07)	(0.07)	(0.01)	1.00	(0.73)	1.82	(1.75)	3.74
IWMW	0.56	(0.02)	(0.03)	0.04	0.91	(0.53)	1.21	(1.91)	4.84
IRTR	0.24	0.02	(0.12)	0.20	0.25	(0.26)	0.49	(0.49)	1.38
PXJ	1.17	0.15	0.08	0.22	1.48	(1.24)	2.56	(2.49)	8.92

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