ETRACS 2x Correlations

SCDL Etf

USD 52.31 0.40 0.77%

The current 90-days correlation between ETRACS 2x Leveraged and SPDR SP International is 0.18 (i.e., Average diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ETRACS 2x moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ETRACS 2x Leveraged moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ETRACS 2x Correlation With Market

Poor diversification

The correlation between ETRACS 2x Leveraged and DJI is 0.76 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETRACS 2x Leveraged and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ETRACS Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ETRACS 2x Leveraged. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Moving together with ETRACS Etf

0.95	NRGU	Bank of Montreal	Pair Corr
0.88	GUSH	Direxion Daily SP	Pair Corr
0.75	ITWO	Proshares Russell 2000	Pair Corr
0.69	AMPD	Tidal ETF Services	Pair Corr
0.8	CPST	Calamos ETF Trust	Pair Corr
0.95	CFA	VictoryShares 500	Pair Corr
0.83	IGEB	iShares Edge Investment	Pair Corr
0.95	ERET	iShares Environmentally	Pair Corr
0.92	HEEM	iShares Currency Hedged	Pair Corr
0.85	EAFG	Pacer Funds Trust	Pair Corr
0.98	SPDV	AAM SP 500	Pair Corr
0.98	STXV	EA Series Trust	Pair Corr
0.89	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.88	LALT	Invesco Multi Strategy	Pair Corr
0.95	DVYE	iShares Emerging Markets	Pair Corr
0.95	ESGD	iShares ESG Aware	Pair Corr
0.97	VYMI	Vanguard International	Pair Corr
0.91	DFE	WisdomTree Europe	Pair Corr
0.97	DXJ	WisdomTree Japan Hedged	Pair Corr
0.72	GPGCX	Grandeur Peak Global	Pair Corr
0.95	TAXT	Northern Trust Tax	Pair Corr
0.95	CCNR	CoreCommodity Natural	Pair Corr
0.97	EMIF	iShares Emerging Markets	Pair Corr
0.92	IJS	iShares SP Small	Pair Corr
0.96	DFIC	Dimensional International	Pair Corr
0.92	UEVM	VictoryShares Emerging	Pair Corr
0.95	MEXX	Direxion Daily MSCI Downward Rally	Pair Corr

Moving against ETRACS Etf

0.83	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.82	MPAY	Exchange Traded Concepts	Pair Corr
0.64	TECL	Direxion Daily Technology	Pair Corr
0.62	QLD	ProShares Ultra QQQ	Pair Corr
0.57	UYG	ProShares Ultra Fina	Pair Corr
0.64	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.1	-0.12	0.05	0.13	-0.26	-0.04	0.18	0.02	0.18	META
MSFT	-0.1		0.84	-0.64	-0.86	0.81	0.93	0.37	-0.92	-0.94	MSFT
UBER	-0.12	0.84		-0.57	-0.77	0.85	0.76	0.22	-0.82	-0.83	UBER
F	0.05	-0.64	-0.57		0.42	-0.55	-0.51	-0.1	0.72	0.67	F
T	0.13	-0.86	-0.77	0.42		-0.68	-0.85	-0.32	0.77	0.77	T
A	-0.26	0.81	0.85	-0.55	-0.68		0.69	0.28	-0.76	-0.85	A
CRM	-0.04	0.93	0.76	-0.51	-0.85	0.69		0.55	-0.84	-0.91	CRM
JPM	0.18	0.37	0.22	-0.1	-0.32	0.28	0.55		-0.2	-0.37	JPM
MRK	0.02	-0.92	-0.82	0.72	0.77	-0.76	-0.84	-0.2		0.92	MRK
XOM	0.18	-0.94	-0.83	0.67	0.77	-0.85	-0.91	-0.37	0.92		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.81	MSFT
MRK	+ 0.77	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.92	MSFT
XOM	- 0.91	CRM
T	- 0.86	MSFT
XOM	- 0.85	A
CRM	- 0.85	T

ETRACS 2x Competition Risk-Adjusted Indicators

There is a big difference between ETRACS Etf performing well and ETRACS 2x 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 ETRACS 2x'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	1.50	0.05	0.02	0.13	1.55	(1.67)	3.43	(2.81)	13.69
MSFT	1.34	(0.29)	0.00	(0.49)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.57	(0.17)	0.00	(0.27)	0.00	0.00	2.70	(3.82)	11.09
F	1.27	0.00	0.00	0.07	1.37	(1.52)	3.61	(2.30)	7.50
T	1.03	0.17	0.07	(0.78)	0.94	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.46)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.82	(0.31)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.28	(0.11)	(0.03)	0.01	1.84	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.27	0.16	0.59	1.18	(1.39)	2.81	(2.06)	8.74
XOM	1.31	0.44	0.25	10.44	1.07	(1.56)	2.90	(2.44)	6.83

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC