Defiance Large Correlations

XMAG Etf

23.18 0.11 0.48%

The current 90-days correlation between Defiance Large Cap and Direxion Shares ETF is 0.56 (i.e., Very weak diversification). The correlation of Defiance Large 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 Large Correlation With Market

Almost no diversification

The correlation between Defiance Large Cap and DJI is 0.97 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Defiance Large Cap 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 Large Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with Defiance Etf

0.89	VTI	Vanguard Total Stock	Pair Corr
0.87	SPY	SPDR SP 500	Pair Corr
0.87	IVV	iShares Core SP	Pair Corr
0.97	VIG	Vanguard Dividend	Pair Corr
0.79	VV	Vanguard Large Cap	Pair Corr
0.97	RSP	Invesco SP 500	Pair Corr
0.87	IWB	iShares Russell 1000	Pair Corr
0.77	ESGU	iShares ESG Aware	Pair Corr
0.99	DFAC	Dimensional Core Equity	Pair Corr
0.87	SPLG	SSgA Symbol Change	Pair Corr
0.76	USD	ProShares Ultra Semi	Pair Corr
0.93	SMH	VanEck Semiconductor ETF	Pair Corr
0.92	SOXX	iShares Semiconductor ETF	Pair Corr
0.73	UPRO	ProShares UltraPro SP500	Pair Corr
0.73	SPXL	Direxion Daily SP500	Pair Corr
0.92	PSI	Invesco Dynamic Semi	Pair Corr
0.82	NJUL	Innovator Nasdaq 100	Pair Corr
0.91	DISV	Dimensional ETF Trust	Pair Corr
0.86	BSMS	Invesco BulletShares 2028	Pair Corr
0.93	NAPR	Innovator Nasdaq 100	Pair Corr
0.95	FNDA	Schwab Fundamental Small	Pair Corr
0.92	DWM	WisdomTree International	Pair Corr
0.88	VYMI	Vanguard International	Pair Corr
0.88	BDEC	Innovator SP 500	Pair Corr
0.96	QTAP	Innovator Growth 100	Pair Corr
0.78	EMIF	iShares Emerging Markets	Pair Corr
0.74	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.77	ERET	iShares Environmentally	Pair Corr
0.95	KNGZ	First Trust Exchange	Pair Corr
0.86	PDEC	Innovator SP 500	Pair Corr
0.96	VLU	SPDR SP 1500	Pair Corr
0.87	DXJ	WisdomTree Japan Hedged	Pair Corr
0.88	CCNR	CoreCommodity Natural	Pair Corr
0.89	HEEM	iShares Currency Hedged Low Volatility	Pair Corr
0.95	JEPI	JPMorgan Equity Premium	Pair Corr
0.89	DFIC	Dimensional International	Pair Corr

Moving against Defiance Etf

0.47	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.57	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	JPAN	GMMA	VERS	SNPD	IQRA	WCEO	BBB	NSCR	QQJG	LMBO
JPAN		0.77	-0.5	0.95	0.92	0.78	-0.53	0.1	0.43	-0.57	JPAN
GMMA	0.77		-0.02	0.77	0.6	0.92	-0.03	0.64	0.48	-0.18	GMMA
VERS	-0.5	-0.02		-0.59	-0.72	-0.04	0.94	0.64	0.09	0.87	VERS
SNPD	0.95	0.77	-0.59		0.92	0.8	-0.59	0.08	0.36	-0.66	SNPD
IQRA	0.92	0.6	-0.72	0.92		0.59	-0.74	-0.14	0.33	-0.73	IQRA
WCEO	0.78	0.92	-0.04	0.8	0.59		-0.06	0.58	0.51	-0.23	WCEO
BBB	-0.53	-0.03	0.94	-0.59	-0.74	-0.06		0.64	0.01	0.92	BBB
NSCR	0.1	0.64	0.64	0.08	-0.14	0.58	0.64		0.33	0.46	NSCR
QQJG	0.43	0.48	0.09	0.36	0.33	0.51	0.01	0.33		-0.06	QQJG
LMBO	-0.57	-0.18	0.87	-0.66	-0.73	-0.23	0.92	0.46	-0.06		LMBO
	JPAN	GMMA	VERS	SNPD	IQRA	WCEO	BBB	NSCR	QQJG	LMBO

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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

SNPD	+ 0.95	JPAN
BBB	+ 0.94	VERS
IQRA	+ 0.92	JPAN
WCEO	+ 0.92	GMMA
IQRA	+ 0.92	SNPD
LMBO	+ 0.92	BBB

High negative correlations

BBB	- 0.74	IQRA
LMBO	- 0.73	IQRA
IQRA	- 0.72	VERS
LMBO	- 0.66	SNPD
BBB	- 0.59	SNPD
SNPD	- 0.59	VERS

Defiance Large Constituents Risk-Adjusted Indicators

There is a big difference between Defiance Etf performing well and Defiance Large 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 Large'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
JPAN	0.78	0.17	0.16	0.33	0.57	(0.91)	2.17	(1.20)	5.71
GMMA	0.25	(0.01)	(0.16)	0.07	0.30	(0.28)	0.52	(0.51)	1.98
VERS	1.38	(0.15)	0.00	(0.04)	0.00	0.00	3.00	(3.10)	8.20
SNPD	0.55	0.14	0.17	0.32	0.32	(0.64)	1.25	(1.02)	3.31
IQRA	0.45	0.13	0.12	0.47	0.22	(0.50)	0.87	(0.72)	2.57
WCEO	0.73	0.04	0.06	0.13	0.62	(0.87)	1.98	(1.34)	4.64
BBB	0.84	(0.17)	0.00	(0.09)	0.00	0.00	1.72	(2.00)	6.09
NSCR	0.63	(0.05)	(0.07)	0.03	0.83	(0.63)	1.12	(1.59)	3.91
QQJG	1.21	0.14	0.00	(0.20)	1.93	(1.35)	1.70	(1.86)	14.79
LMBO	4.94	(0.55)	0.00	(0.06)	0.00	0.00	11.19	(9.26)	30.35

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