SoFi Next Correlations

Etfs . USA . 
Etf . SoFi Next 500
SFYX Etf  USD 15.12  0.18  1.20%   
The current 90-days correlation between SoFi Next 500 and SoFi Social 50 is 0.59 (i.e., Very weak diversification). The correlation of SoFi Next 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.

SoFi Next Correlation With Market

Weak diversification

The correlation between SoFi Next 500 and DJI is 0.3 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SoFi Next 500 and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SoFi Next 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with SoFi Etf

  0.96VO Vanguard Mid CapPairCorr
  0.98VXF Vanguard Extended MarketPairCorr
  0.96IJH iShares Core SPPairCorr
  0.97IWR iShares Russell MidPairCorr
  0.96MDY SPDR SP MIDCAPPairCorr
  0.92FV First Trust DorseyPairCorr
  0.97IVOO Vanguard SP MidPairCorr
  0.96JHMM John Hancock MultifactorPairCorr
  0.99BBMC JPMorgan BetaBuilders MidPairCorr
  0.99XMMO Invesco SP MidCapPairCorr
  0.87UPRO ProShares UltraPro SP500PairCorr
  0.8XTOC Innovator ETFs TrustPairCorr
  0.65XTAP Innovator Equity AccPairCorr
  0.85BAC Bank of America Sell-off TrendPairCorr
  0.72T ATT Inc Earnings Call TomorrowPairCorr
  0.72CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.68DIS Walt DisneyPairCorr
  0.73JPM JPMorgan ChasePairCorr

Moving against SoFi Etf

  0.31MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
BKLC
+ 0.98
SFY
SFY
+ 0.86
SFYF
BKLC
+ 0.84
SFYF
WKLY
+ 0.71
TGIF
TGIF
+ 0.59
SFYF
TGIF
+ 0.3
SFY
  
High negative correlations   
WKLY
- 0.14
SFY
BKLC
- 0.12
WKLY

SoFi Next Constituents Risk-Adjusted Indicators

There is a big difference between SoFi Etf performing well and SoFi Next 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 SoFi Next'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.

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
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY