AXS 2X Correlations

TARK Etf

USD 37.31 2.60 6.51%

The current 90-days correlation between AXS 2X Innovation and Starboard Investment Trust is 0.7 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as AXS 2X moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if AXS 2X Innovation moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

AXS 2X Correlation With Market

Good diversification

The correlation between AXS 2X Innovation and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding AXS 2X Innovation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with AXS Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in AXS 2X Innovation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with AXS Etf

0.67	QLD	ProShares Ultra QQQ	Pair Corr
0.8	TECL	Direxion Daily Technology	Pair Corr
0.84	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.77	ROM	ProShares Ultra Tech	Pair Corr
0.7	MSFT	Microsoft	Pair Corr

Moving against AXS Etf

0.64	NRGU	Bank of Montreal	Pair Corr
0.58	GUSH	Direxion Daily SP	Pair Corr
0.5	RDIV	Invesco SP Ultra	Pair Corr
0.33	BINC	BlackRock ETF Trust	Pair Corr
0.81	VZ	Verizon Communications Aggressive Push	Pair Corr
0.8	PG	Procter Gamble	Pair Corr
0.79	T	ATT Inc Aggressive Push	Pair Corr
0.78	KO	Coca Cola Earnings Call This Week	Pair Corr
0.67	CSCO	Cisco Systems	Pair Corr
0.62	TRV	The Travelers Companies	Pair Corr
0.62	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.58	CVX	Chevron Corp	Pair Corr
0.54	MCD	McDonalds	Pair Corr
0.46	CAT	Caterpillar	Pair Corr
0.41	DD	Dupont De Nemours	Pair Corr

Related Correlations Analysis

	FDTS	EBIT	JHDV	LBO	RHTX
FDTS		0.91	0.97	-0.09	0.9	FDTS
EBIT	0.91		0.92	0.17	0.88	EBIT
JHDV	0.97	0.92		0.02	0.91	JHDV
LBO	-0.09	0.17	0.02		0.26	LBO
RHTX	0.9	0.88	0.91	0.26		RHTX
	FDTS	EBIT	JHDV	LBO	RHTX

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

JHDV	+ 0.97	FDTS
JHDV	+ 0.92	EBIT
EBIT	+ 0.91	FDTS
RHTX	+ 0.91	JHDV
RHTX	+ 0.9	FDTS
RHTX	+ 0.88	EBIT

High negative correlations

LBO

- 0.09

FDTS

AXS 2X Constituents Risk-Adjusted Indicators

There is a big difference between AXS Etf performing well and AXS 2X 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 AXS 2X'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
FDTS	0.72	0.28	0.34	0.50	0.26	(0.93)	2.02	(1.07)	4.06
EBIT	0.80	0.09	0.12	0.18	0.59	(1.04)	2.39	(1.60)	4.82
JHDV	0.53	0.05	0.03	0.16	0.61	(0.55)	1.05	(1.28)	2.97
LBO	1.05	(0.15)	0.00	(0.03)	0.00	0.00	2.17	(3.13)	7.23
RHTX	0.74	0.07	0.03	0.17	1.28	(0.71)	1.43	(1.41)	6.79

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