2x Daily Correlations

SOFLDelisted Etf

22.73 0.00 0.00%

The current 90-days correlation between 2x Daily Software and Innovator ETFs Trust is -0.28 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as 2x Daily moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if 2x Daily Software moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

2x Daily Correlation With Market

Poor diversification

The correlation between 2x Daily Software and DJI is 0.75 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding 2x Daily Software and DJI in the same portfolio, assuming nothing else is changed.

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 census.

Moving together with SOFL Etf

0.65	VTI	Vanguard Total Stock	Pair Corr
0.61	SPY	SPDR SP 500	Pair Corr
0.61	IVV	iShares Core SP	Pair Corr
0.86	VTV	Vanguard Value Index	Pair Corr
0.75	VO	Vanguard Mid Cap	Pair Corr
0.89	VEA	Vanguard FTSE Developed	Pair Corr
0.83	VB	Vanguard Small Cap	Pair Corr
0.9	VWO	Vanguard FTSE Emerging	Pair Corr
0.78	CPST	Calamos ETF Trust	Pair Corr
0.84	ITDD	iShares Trust	Pair Corr
0.85	AA	Alcoa Corp	Pair Corr
0.87	CVX	Chevron Corp	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.83	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.89	BA	Boeing	Pair Corr
0.84	CAT	Caterpillar	Pair Corr
0.72	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Moving against SOFL Etf

0.74	MPAY	Exchange Traded Concepts	Pair Corr
0.91	HPQ	HP Inc	Pair Corr
0.71	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.45	-0.5	0.47	0.14	-0.57	-0.04	0.32	0.49	0.47	META
MSFT	-0.45		0.73	-0.53	-0.42	0.59	0.71	0.01	-0.8	-0.87	MSFT
UBER	-0.5	0.73		-0.48	-0.15	0.66	0.32	-0.16	-0.8	-0.63	UBER
F	0.47	-0.53	-0.48		-0.17	-0.35	-0.13	0.38	0.7	0.63	F
T	0.14	-0.42	-0.15	-0.17		-0.05	-0.6	-0.11	0.14	0.28	T
A	-0.57	0.59	0.66	-0.35	-0.05		0.26	-0.08	-0.49	-0.68	A
CRM	-0.04	0.71	0.32	-0.13	-0.6	0.26		0.5	-0.38	-0.7	CRM
JPM	0.32	0.01	-0.16	0.38	-0.11	-0.08	0.5		0.25	-0.07	JPM
MRK	0.49	-0.8	-0.8	0.7	0.14	-0.49	-0.38	0.25		0.76	MRK
XOM	0.47	-0.87	-0.63	0.63	0.28	-0.68	-0.7	-0.07	0.76		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

XOM	+ 0.76	MRK
UBER	+ 0.73	MSFT
CRM	+ 0.71	MSFT
MRK	+ 0.7	F
A	+ 0.66	UBER
XOM	+ 0.63	F

High negative correlations

XOM	- 0.87	MSFT
MRK	- 0.8	UBER
MRK	- 0.8	MSFT
XOM	- 0.7	CRM
XOM	- 0.68	A
XOM	- 0.63	UBER

2x Daily Competition Risk-Adjusted Indicators

There is a big difference between SOFL Etf performing well and 2x 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 2x 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	1.51	0.02	(0.01)	0.11	1.55	(1.74)	3.43	(2.67)	13.69
MSFT	1.32	(0.41)	0.00	(0.89)	0.00	0.00	1.85	(2.74)	13.28
UBER	1.55	(0.47)	0.00	(0.70)	0.00	0.00	2.41	(5.06)	11.09
F	1.22	0.03	0.02	0.11	1.20	(1.45)	3.38	(2.35)	7.16
T	0.94	0.16	0.09	1.52	0.83	(1.06)	2.02	(1.54)	4.32
A	1.21	(0.26)	0.00	(0.14)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.71	(0.54)	0.00	(0.39)	0.00	0.00	2.94	(5.31)	12.37
JPM	1.20	(0.04)	0.00	0.05	1.67	(1.24)	2.34	(3.11)	7.38
MRK	1.26	0.56	0.43	0.97	0.69	(1.62)	3.59	(1.93)	8.09
XOM	1.17	0.41	0.26	3.45	0.94	(1.39)	2.69	(2.11)	5.85

2x Daily 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 2x Daily etf to make a market-neutral strategy. Peer analysis of 2x Daily could also be used in its relative valuation, which is a method of valuing 2x Daily by comparing valuation metrics with similar companies.

VistaShares Animal Spirits Tidal Trust II WisdomTree MidCap Quality WisdomTree Inflation Plus Emerging Markets Bond Litman Gregory Funds Tidal Trust II Hotchkis Wiley SMID First Trust Exchange Traded Innovator ETFs Trust American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup

Risk & Return

Correlation

Still Interested in 2x Daily Software?

Investing in delisted delisted etfs can be risky, as the etf is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.

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