Strategy Shares Correlations

ROMO Etf

USD 33.64 0.59 1.72%

The current 90-days correlation between Strategy Shares Newf and Invesco Dynamic Oil is 0.39 (i.e., Weak 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 0.82 (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 state.

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

Moving together with Strategy Etf

0.84	INR	Infinity Natural Res Earnings Call This Week	Pair Corr
0.84	BND	Vanguard Total Bond	Pair Corr
0.97	VTV	Vanguard Value Index	Pair Corr
0.92	PIPE	Invesco SteelPath MLP	Pair Corr
0.91	CLOC	ETF Series Solutions	Pair Corr
0.96	IYM	iShares Basic Materials	Pair Corr
0.94	IJK	iShares SP Mid	Pair Corr
0.96	VLU	SPDR SP 1500	Pair Corr
0.89	USRT	iShares Core REIT	Pair Corr
0.89	FOPC	Advisors Inner	Pair Corr
0.95	VFMV	Vanguard Minimum Vol	Pair Corr
0.87	AAAA	Amplius Aggressive Asset	Pair Corr
0.97	ASIA	Matthews International	Pair Corr
0.97	GEND	Spinnaker ETF Series	Pair Corr
0.99	YDEC	First Trust Exchange	Pair Corr
0.93	SMB	VanEck Short Muni	Pair Corr
0.93	FNX	First Trust Mid	Pair Corr
0.9	QTAP	Innovator Growth 100	Pair Corr
0.64	SLV	iShares Silver Trust	Pair Corr
0.93	CLSE	Trust For Professional	Pair Corr
0.87	UCO	ProShares Ultra Bloomberg	Pair Corr
0.93	FNDA	Schwab Fundamental Small	Pair Corr
0.98	GRID	First Trust NASDAQ	Pair Corr
0.88	PFXF	VanEck Preferred Sec	Pair Corr
0.91	DOGG	First Trust Exchange	Pair Corr
0.85	MNZL	Manzil Russell Halal	Pair Corr
0.93	KNGZ	First Trust Exchange	Pair Corr
0.9	LALT	Invesco Multi Strategy	Pair Corr
0.91	ENFR	Alerian Energy Infra	Pair Corr
0.97	EDGI	Advisors Inner	Pair Corr
0.96	WEEI	Westwood Salient Enhanced	Pair Corr
0.96	HFMF	Unlimited HFMF Managed	Pair Corr

Moving against Strategy Etf

0.74

VUG

Vanguard Growth Index

Pair Corr

Related Correlations Analysis

	EMM	DIVY	XNAV	MFUL	CRAK	UMDD	FSGS	IWMW	IRTR	PXJ
EMM		0.95	0.96	0.98	0.92	0.94	-0.07	0.89	0.98	0.96	EMM
DIVY	0.95		0.88	0.96	0.93	0.93	-0.18	0.84	0.94	0.95	DIVY
XNAV	0.96	0.88		0.95	0.83	0.93	0.16	0.93	0.96	0.89	XNAV
MFUL	0.98	0.96	0.95		0.92	0.95	-0.04	0.89	0.98	0.95	MFUL
CRAK	0.92	0.93	0.83	0.92		0.85	-0.26	0.72	0.88	0.97	CRAK
UMDD	0.94	0.93	0.93	0.95	0.85		0.14	0.95	0.95	0.9	UMDD
FSGS	-0.07	-0.18	0.16	-0.04	-0.26	0.14		0.28	0.0	-0.18	FSGS
IWMW	0.89	0.84	0.93	0.89	0.72	0.95	0.28		0.92	0.82	IWMW
IRTR	0.98	0.94	0.96	0.98	0.88	0.95	0.0	0.92		0.94	IRTR
PXJ	0.96	0.95	0.89	0.95	0.97	0.9	-0.18	0.82	0.94		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

MFUL	+ 0.98	EMM
IRTR	+ 0.98	EMM
IRTR	+ 0.98	MFUL
PXJ	+ 0.97	CRAK
XNAV	+ 0.96	EMM
PXJ	+ 0.96	EMM

High negative correlations

FSGS	- 0.26	CRAK
PXJ	- 0.18	FSGS
FSGS	- 0.18	DIVY
FSGS	- 0.07	EMM
FSGS	- 0.04	MFUL
IRTR	- 0.0	FSGS

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	0.81	0.24	0.21	0.38	0.65	(0.93)	2.14	(1.58)	4.12
DIVY	0.54	0.14	0.16	0.29	0.41	(0.62)	1.40	(1.15)	3.81
XNAV	0.73	0.12	0.10	0.22	0.87	(0.77)	1.40	(1.67)	4.98
MFUL	0.16	0.01	(0.15)	0.13	0.09	(0.18)	0.32	(0.32)	1.05
CRAK	0.81	0.21	0.15	(7.76)	0.65	(0.92)	2.36	(1.31)	4.95
UMDD	2.01	0.29	0.20	0.17	1.81	(2.36)	5.66	(4.00)	15.20
FSGS	0.72	(0.03)	(0.03)	0.04	0.81	(0.77)	1.60	(1.44)	4.20
IWMW	0.45	0.05	0.03	0.14	0.51	(0.45)	1.15	(1.19)	4.57
IRTR	0.20	0.03	(0.08)	0.17	0.06	(0.24)	0.49	(0.39)	1.42
PXJ	1.16	0.50	0.36	0.66	0.70	(1.41)	3.42	(1.91)	7.84

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