SoFi Next Correlations

Etfs . USA . 
Etf . SoFi Next 500
SFYX Etf  USD 15.68  0.06  0.38%   
The current 90-days correlation between SoFi Next 500 and SoFi Social 50 is 0.64 (i.e., Poor 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

Very poor diversification

The correlation between SoFi Next 500 and DJI is 0.84 (i.e., Very poor 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

  0.98VO Vanguard Mid CapPairCorr
  0.99VXF Vanguard Extended MarketPairCorr
  0.99IJH iShares Core SPPairCorr
  0.99IWR iShares Russell Mid Sell-off TrendPairCorr
  0.99MDY SPDR SP MIDCAPPairCorr
  0.95FV First Trust DorseyPairCorr
  0.99IVOO Vanguard SP MidPairCorr
  0.99JHMM John Hancock MultifactorPairCorr
  0.99BBMC JPMorgan BetaBuilders MidPairCorr
  0.96REGL ProShares SP MidCap Low VolatilityPairCorr
  0.97VTI Vanguard Total StockPairCorr
  0.96SPY SPDR SP 500 Aggressive PushPairCorr
  0.96IVV iShares Core SPPairCorr
  0.94VTV Vanguard Value Index Sell-off TrendPairCorr
  0.95VUG Vanguard Growth IndexPairCorr
  0.99VB Vanguard Small CapPairCorr
  0.64XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.78CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.75HD Home Depot Sell-off TrendPairCorr
  0.92CSCO Cisco Systems Aggressive PushPairCorr
  0.9AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.91CVX Chevron Corp Sell-off TrendPairCorr
  0.72T ATT Inc Aggressive PushPairCorr
  0.77TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.91BAC Bank of America Aggressive PushPairCorr
  0.87HPQ HP IncPairCorr
  0.86DIS Walt Disney Aggressive PushPairCorr
  0.86INTC Intel Fiscal Year End 23rd of January 2025 PairCorr

Moving against SoFi Etf

  0.72BND Vanguard Total BondPairCorr
  0.56VEA Vanguard FTSE DevelopedPairCorr
  0.8MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.79KO Coca Cola Sell-off TrendPairCorr
  0.72PFE Pfizer Inc Aggressive PushPairCorr
  0.65BA Boeing Fiscal Year End 29th of January 2025 PairCorr

Related Correlations Analysis

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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.

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