Defiance Enhanced Correlations

VIXI Etf

12.10 0.06 0.49%

The current 90-days correlation between Defiance Enhanced Long and ETF Series Solutions is -0.73 (i.e., Pay attention - limited upside). The correlation of Defiance Enhanced 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 Enhanced Correlation With Market

Pay attention - limited upside

The correlation between Defiance Enhanced Long and DJI is -0.78 (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 Enhanced Long 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 Enhanced Long. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in world development indicators.

Moving against Defiance Etf

0.86	SSO	ProShares Ultra SP500	Pair Corr
0.84	SPXL	Direxion Daily SP500	Pair Corr
0.84	UPRO	ProShares UltraPro SP500	Pair Corr
0.68	UYG	ProShares Ultra Fina	Pair Corr
0.67	QLD	ProShares Ultra QQQ	Pair Corr
0.61	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.54	LABU	Direxion Daily SP	Pair Corr
0.43	TECL	Direxion Daily Technology	Pair Corr
0.36	BULZ	MicroSectors Solactive	Pair Corr
0.34	USD	ProShares Ultra Semi	Pair Corr
0.88	ITDJ	iShares Trust	Pair Corr
0.84	FTBI	First Trust Exchange	Pair Corr
0.84	FLCV	Federated Hermes ETF	Pair Corr
0.82	HLAL	Wahed FTSE USA	Pair Corr
0.8	CPSU	Calamos SP 500	Pair Corr
0.78	SMLV	SPDR SSGA Small	Pair Corr
0.72	QQQM	Invesco NASDAQ 100	Pair Corr
0.61	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.59	PLTM	GraniteShares Platinum	Pair Corr
0.53	CLOX	Series Portfolios Trust	Pair Corr
0.48	ZSB	USCF Sustainable Battery	Pair Corr
0.44	JNUG	Direxion Daily Junior	Pair Corr
0.44	PHT	PHT	Pair Corr
0.35	DVXB	WEBs Defined Volatility	Pair Corr
0.89	GUSA	Goldman Sachs MarketBeta	Pair Corr
0.8	CSD	Invesco SP Spin	Pair Corr
0.78	QULL	ETRACS 2x Leveraged	Pair Corr
0.75	SIXS	6 Meridian Small	Pair Corr
0.72	PBJA	PGIM Rock ETF	Pair Corr
0.7	CPER	United States Copper	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.57	-0.64	0.57	-0.6	0.23	-0.14	-0.59	-0.63	META
MSFT	0.66		0.83	-0.51	0.36	-0.22	0.09	-0.3	-0.77	-0.6	MSFT
UBER	0.57	0.83		-0.62	0.57	-0.33	-0.1	-0.2	-0.84	-0.59	UBER
F	-0.64	-0.51	-0.62		-0.71	0.56	0.27	0.38	0.7	0.76	F
T	0.57	0.36	0.57	-0.71		-0.57	-0.45	-0.16	-0.54	-0.49	T
A	-0.6	-0.22	-0.33	0.56	-0.57		-0.17	-0.25	0.51	0.28	A
CRM	0.23	0.09	-0.1	0.27	-0.45	-0.17		0.33	0.01	0.13	CRM
JPM	-0.14	-0.3	-0.2	0.38	-0.16	-0.25	0.33		0.25	0.36	JPM
MRK	-0.59	-0.77	-0.84	0.7	-0.54	0.51	0.01	0.25		0.64	MRK
XOM	-0.63	-0.6	-0.59	0.76	-0.49	0.28	0.13	0.36	0.64		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	+ 0.83	MSFT
XOM	+ 0.76	F
MRK	+ 0.7	F
MSFT	+ 0.66	META
XOM	+ 0.64	MRK
UBER	+ 0.57	META

High negative correlations

MRK	- 0.84	UBER
MRK	- 0.77	MSFT
T	- 0.71	F
F	- 0.64	META
XOM	- 0.63	META
F	- 0.62	UBER

Defiance Enhanced Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Enhanced 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 Enhanced'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	1.40	(0.25)	0.00	(0.21)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.12)	0.00	(0.14)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.48	(0.36)	0.00	(0.28)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.15	0.09	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.96	(0.26)	0.00	(0.85)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.08	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.57	0.03	0.02	0.09	2.02	(1.54)	3.66	(2.92)	9.91
JPM	1.03	0.00	0.01	0.06	1.41	(1.02)	2.00	(1.91)	7.02
MRK	1.45	0.38	0.27	0.50	1.07	(1.86)	4.85	(2.06)	11.45
XOM	0.96	0.09	0.04	0.47	0.99	(1.02)	1.96	(1.51)	4.99

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