Defiance Daily Correlations

SMCX Etf

11.93 0.15 1.27%

The current 90-days correlation between Defiance Daily Target and Defiance Daily Target is 0.47 (i.e., Very weak diversification). The correlation of Defiance Daily 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.

Defiance Daily Correlation With Market

Weak diversification

The correlation between Defiance Daily Target and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Daily Target and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Defiance Etf

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

Moving together with Defiance Etf

0.78	ELON	Battleshares TSLA	Pair Corr
0.63	MSFT	Microsoft	Pair Corr
0.85	HD	Home Depot	Pair Corr
0.84	HPQ	HP Inc	Pair Corr

Moving against Defiance Etf

0.93	DD	Dupont De Nemours	Pair Corr
0.83	TRV	The Travelers Companies	Pair Corr
0.66	JEPI	JPMorgan Equity Premium	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.55	LABU	Direxion Daily SP	Pair Corr
0.75	AXP	American Express	Pair Corr
0.69	KO	Coca Cola	Pair Corr
0.61	WMT	Walmart Common Stock	Pair Corr
0.58	MCD	McDonalds	Pair Corr
0.57	PFE	Pfizer Inc	Pair Corr
0.55	IBM	International Business	Pair Corr
0.4	VZ	Verizon Communications	Pair Corr
0.37	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.59	0.31	-0.39	0.16	-0.27	0.39	-0.19	-0.29	-0.37	META
MSFT	0.59		0.82	-0.5	0.28	0.05	0.02	-0.49	-0.7	-0.5	MSFT
UBER	0.31	0.82		-0.47	0.35	0.31	-0.19	-0.5	-0.75	-0.51	UBER
F	-0.39	-0.5	-0.47		-0.44	0.13	0.33	0.66	0.48	0.5	F
T	0.16	0.28	0.35	-0.44		0.4	-0.56	-0.46	-0.45	-0.57	T
A	-0.27	0.05	0.31	0.13	0.4		-0.55	-0.26	-0.11	-0.16	A
CRM	0.39	0.02	-0.19	0.33	-0.56	-0.55		0.54	0.17	0.2	CRM
JPM	-0.19	-0.49	-0.5	0.66	-0.46	-0.26	0.54		0.5	0.47	JPM
MRK	-0.29	-0.7	-0.75	0.48	-0.45	-0.11	0.17	0.5		0.8	MRK
XOM	-0.37	-0.5	-0.51	0.5	-0.57	-0.16	0.2	0.47	0.8		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.82	MSFT
XOM	+ 0.8	MRK
JPM	+ 0.66	F
MSFT	+ 0.59	META
JPM	+ 0.54	CRM
XOM	+ 0.5	F

High negative correlations

MRK	- 0.75	UBER
MRK	- 0.7	MSFT
XOM	- 0.57	T
CRM	- 0.56	T
CRM	- 0.55	A
XOM	- 0.51	UBER

Defiance Daily Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Daily 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 Daily'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	1.31	(0.19)	0.00	(0.20)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.90	(0.14)	0.00	(0.34)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.50	(0.22)	0.00	(0.15)	0.00	0.00	2.60	(3.82)	10.23
F	1.44	0.25	0.18	0.27	1.28	(1.70)	3.38	(2.35)	16.30
T	0.88	(0.14)	0.00	(0.52)	0.00	0.00	1.61	(1.83)	5.75
A	1.11	0.05	0.03	0.14	1.22	(1.20)	2.34	(2.09)	6.50
CRM	1.51	0.02	0.00	0.12	1.98	(1.51)	3.66	(2.92)	9.91
JPM	1.10	0.02	0.02	0.10	1.44	(1.15)	2.00	(2.28)	6.66
MRK	1.22	0.30	0.22	0.45	1.05	(1.52)	3.59	(1.98)	8.09
XOM	1.04	0.12	0.05	0.44	1.06	(1.15)	2.21	(1.93)	5.82

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