Defiance Correlations

WDTE Etf

32.08 0.02 0.06%

The current 90-days correlation between Defiance SP 500 and Innovator ETFs Trust is 0.87 (i.e., Very poor diversification). The correlation of Defiance 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 Correlation With Market

Poor diversification

The correlation between Defiance SP 500 and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance SP 500 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Defiance Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in Defiance SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with Defiance Etf

0.76	CEFD	ETRACS Monthly Pay	Pair Corr
0.9	HBTA	Horizon Funds	Pair Corr
0.86	AJUL	Innovator Equity Defined	Pair Corr
0.83	FTBI	First Trust Exchange	Pair Corr
0.74	CPER	United States Copper Buyout Trend	Pair Corr
0.75	FSMD	Fidelity Small Mid	Pair Corr
0.75	XLK	Technology Select Sector Aggressive Push	Pair Corr
0.77	CPSU	Calamos SP 500	Pair Corr
0.86	QQQM	Invesco NASDAQ 100	Pair Corr
0.8	VONG	Vanguard Russell 1000	Pair Corr
0.85	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.92	QQJG	Invesco ESG NASDAQ	Pair Corr
0.85	CSD	Invesco SP Spin	Pair Corr
0.81	EQRR	ProShares Equities for	Pair Corr
0.93	QULL	ETRACS 2x Leveraged	Pair Corr
0.78	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.79	QQH	HCM Defender 100	Pair Corr

Moving against Defiance Etf

0.81	VXX	iPath Series B	Pair Corr
0.81	VIXY	ProShares VIX Short	Pair Corr
0.7	VXZ	iPath Series B	Pair Corr
0.69	VIXM	ProShares VIX Mid	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.53	-0.61	0.51	-0.55	0.22	-0.16	-0.53	-0.6	META
MSFT	0.66		0.83	-0.52	0.37	-0.19	0.05	-0.34	-0.77	-0.61	MSFT
UBER	0.53	0.83		-0.61	0.56	-0.23	-0.18	-0.32	-0.85	-0.6	UBER
F	-0.61	-0.52	-0.61		-0.69	0.49	0.32	0.44	0.68	0.75	F
T	0.51	0.37	0.56	-0.69		-0.45	-0.53	-0.26	-0.51	-0.48	T
A	-0.55	-0.19	-0.23	0.49	-0.45		-0.2	-0.27	0.4	0.19	A
CRM	0.22	0.05	-0.18	0.32	-0.53	-0.2		0.41	0.11	0.2	CRM
JPM	-0.16	-0.34	-0.32	0.44	-0.26	-0.27	0.41		0.38	0.44	JPM
MRK	-0.53	-0.77	-0.85	0.68	-0.51	0.4	0.11	0.38		0.66	MRK
XOM	-0.6	-0.61	-0.6	0.75	-0.48	0.19	0.2	0.44	0.66		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	+ 0.75	F
MRK	+ 0.68	F
MSFT	+ 0.66	META
XOM	+ 0.66	MRK
T	+ 0.56	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.69	F
F	- 0.61	UBER
XOM	- 0.61	MSFT
F	- 0.61	META

Defiance Competition Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance 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'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	1.38	(0.27)	0.00	(0.20)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.68	(1.65)	3.38	(2.63)	16.30
T	0.95	(0.22)	0.00	(0.71)	0.00	0.00	1.61	(2.18)	5.75
A	1.23	0.08	0.06	0.15	1.26	(1.33)	2.34	(2.21)	11.03
CRM	1.54	0.05	0.03	0.13	1.98	(1.51)	3.66	(2.92)	9.91
JPM	1.05	(0.02)	0.00	0.06	1.39	(1.07)	2.00	(1.91)	7.02
MRK	1.44	0.40	0.28	0.54	1.07	(1.80)	4.85	(2.06)	11.45
XOM	0.94	0.05	(0.01)	0.28	0.98	(1.01)	1.96	(1.51)	4.99

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