Defiance Leveraged Correlations

Etfs . USA . 
Etf . Defiance Leveraged Long
SMCC Etf   6.21  0.13  2.05%   
The current 90-days correlation between Defiance Leveraged Long and Ab Small Cap is -0.32 (i.e., Very good diversification). The correlation of Defiance Leveraged 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.

Defiance Leveraged Correlation With Market

Pay attention - limited upside

The correlation between Defiance Leveraged Long and DJI is -0.79 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Leveraged Long and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out World Market Map to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with Defiance Etf

  0.88VXX iPath Series B Buyout TrendPairCorr
  0.88VIXY ProShares VIX Short Buyout TrendPairCorr
  0.89VIXM ProShares VIX MidPairCorr
  0.86VXZ iPath Series BPairCorr

Moving against Defiance Etf

  0.91QTAP Innovator Growth 100PairCorr
  0.9XTAP Innovator Equity AccPairCorr
  0.89OASC OneAscent Small CapPairCorr
  0.88GAPR First Trust ExchangePairCorr
  0.85XTOC Innovator ETFs TrustPairCorr
  0.85XTJA Innovator ETFs TrustPairCorr
  0.79VBK Vanguard Small CapPairCorr
  0.77QTOC Innovator ETFs TrustPairCorr
  0.76QTJA Innovator ETFs TrustPairCorr
  0.67UPRO ProShares UltraPro SP500PairCorr
  0.59RDIV Invesco SP UltraPairCorr
  0.44YCS ProShares UltraShort YenPairCorr
  0.9AHYB American Century ETFPairCorr
  0.79BINC BlackRock ETF TrustPairCorr
  0.74BA BoeingPairCorr
  0.69JNJ Johnson JohnsonPairCorr
  0.62DD Dupont De NemoursPairCorr
  0.53MCD McDonaldsPairCorr
  0.48XOM Exxon Mobil Corp Aggressive PushPairCorr
  0.45PFE Pfizer Inc Aggressive PushPairCorr
  0.44CVX Chevron CorpPairCorr
  0.37CSCO Cisco SystemsPairCorr
  0.32JPM JPMorgan ChasePairCorr
  0.31HD Home Depot Sell-off TrendPairCorr

Related Correlations Analysis


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

XOM
+ 0.8
MRK
CRM
+ 0.79
MSFT
UBER
+ 0.78
MSFT
A
+ 0.76
UBER
A
+ 0.69
MSFT
MRK
+ 0.65
F
  

High negative correlations

XOM
- 0.9
MSFT
MRK
- 0.83
MSFT
XOM
- 0.8
CRM
MRK
- 0.79
UBER
XOM
- 0.76
A
XOM
- 0.73
UBER

Defiance Leveraged Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Leveraged 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 Defiance Leveraged'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.52  0.04  0.01  0.13  1.51 
(1.82)
 3.43 
(2.82)
 13.69 
MSFT  1.34 (0.34) 0.00 (0.77) 0.00 
 0.00 
 1.90 
(2.74)
 13.28 
UBER  1.51 (0.41) 0.00 (0.71) 0.00 
 0.00 
 2.41 
(3.82)
 11.09 
F  1.19  0.03  0.01  0.11  1.20 
(1.46)
 3.38 
(2.35)
 7.16 
T  1.00  0.23  0.16 (9.07) 0.77 
(1.17)
 3.87 
(1.54)
 5.31 
A  1.25 (0.33) 0.00 (0.18) 0.00 
 0.00 
 2.90 
(2.73)
 7.85 
CRM  1.66 (0.44) 0.00 (0.38) 0.00 
 0.00 
 2.94 
(4.75)
 12.37 
JPM  1.27 (0.15) 0.00 (0.03) 0.00 
 0.00 
 2.34 
(3.11)
 7.38 
MRK  1.33  0.46  0.33  0.76  0.98 
(1.68)
 3.59 
(1.98)
 8.74 
XOM  1.24  0.38  0.22  1.59  1.14 
(1.43)
 2.68 
(2.12)
 5.85 

Defiance Leveraged Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Defiance Leveraged etf to make a market-neutral strategy. Peer analysis of Defiance Leveraged could also be used in its relative valuation, which is a method of valuing Defiance Leveraged by comparing valuation metrics with similar companies.
 Risk & Return  Correlation
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