Elevate Shares Correlations

Delisted . USA . 
Etf . Elevate Shares
SQYDelisted Etf   10.69  0.54  5.32%   
The current 90-days correlation between Elevate Shares and Invesco SP 500 is 0.22 (i.e., Modest diversification). The correlation of Elevate Shares 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.

Elevate Shares Correlation With Market

Pay attention - limited upside

The correlation between Elevate Shares and DJI is -0.77 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elevate Shares 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 small area income & poverty estimates.

Moving together with Elevate Etf

  0.73MSFT MicrosoftPairCorr
  0.91HPQ HP IncPairCorr

Moving against Elevate Etf

  0.9IDME International DrawdownPairCorr
  0.87KNG FT Cboe VestPairCorr
  0.85BUYW Main Buywrite ETFPairCorr
  0.85AHYB American Century ETFPairCorr
  0.84JEPI JPMorgan Equity Premium Sell-off TrendPairCorr
  0.82XYLD Global X SPPairCorr
  0.82RYLD Global X RussellPairCorr
  0.82XTAP Innovator Equity AccPairCorr
  0.8QTAP Innovator Growth 100PairCorr
  0.78XTJA Innovator ETFs TrustPairCorr
  0.76RDIV Invesco SP UltraPairCorr
  0.75VBK Vanguard Small CapPairCorr
  0.72XTOC Innovator ETFs TrustPairCorr
  0.64QTJA Innovator ETFs TrustPairCorr
  0.63JEPQ JPMorgan Nasdaq EquityPairCorr
  0.54QTOC Innovator ETFs TrustPairCorr
  0.47UPRO ProShares UltraPro SP500PairCorr
  0.42DIVO Amplify CWP EnhancedPairCorr
  0.9BINC BlackRock ETF TrustPairCorr
  0.9BA BoeingPairCorr
  0.9AA Alcoa CorpPairCorr
  0.83XOM Exxon Mobil Corp Aggressive PushPairCorr
  0.83MRK Merck Company Aggressive PushPairCorr
  0.8CAT CaterpillarPairCorr
  0.76OASC OneAscent Small CapPairCorr
  0.74WMT Walmart Common Stock Aggressive PushPairCorr
  0.53GE GE AerospacePairCorr
  0.52PFE Pfizer IncPairCorr
  0.46KO Coca ColaPairCorr
  0.35VZ Verizon Communications Aggressive PushPairCorr

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
+ 0.76
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

Elevate Shares Competition Risk-Adjusted Indicators

There is a big difference between Elevate Etf performing well and Elevate Shares 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 Elevate Shares' 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  1.51  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 

Delisting Warning - SQY

Elevate Shares was delisted

The entity Elevate Shares with a symbol SQY was delisted from NASDAQ Exchange. Please try YieldMax XYZ Option with a symbol XYZY from now on. Check all delisted instruments accross multiple markets.

Still Interested in Elevate Shares?

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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