Defiance Large Correlations

XMAG Etf

22.88 0.01 0.04%

The current 90-days correlation between Defiance Large Cap and Touchstone ETF Trust is 0.77 (i.e., Poor 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

Very poor diversification

The correlation between Defiance Large Cap and DJI is 0.89 (i.e., Very poor 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

0.94	VTI	Vanguard Total Stock	Pair Corr
0.91	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.91	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.94	VIG	Vanguard Dividend	Pair Corr
0.9	VV	Vanguard Large Cap	Pair Corr
0.96	RSP	Invesco SP 500	Pair Corr
0.93	IWB	iShares Russell 1000 Sell-off Trend	Pair Corr
0.89	ESGU	iShares ESG Aware	Pair Corr
0.96	DFAC	Dimensional Core Equity	Pair Corr
0.62	QLD	ProShares Ultra QQQ	Pair Corr
0.83	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	SPXL	Direxion Daily SP500 Sell-off Trend	Pair Corr
0.87	UPRO	ProShares UltraPro SP500 Sell-off Trend	Pair Corr
0.83	SOXX	iShares Semiconductor ETF	Pair Corr
0.87	PSI	Invesco Dynamic Semi	Pair Corr
0.81	AA	Alcoa Corp	Pair Corr
0.66	WMT	Walmart Common Stock	Pair Corr
0.66	AXP	American Express	Pair Corr
0.61	MRK	Merck Company	Pair Corr

Moving against Defiance Etf

0.52

Procter Gamble

Pair Corr

Related Correlations Analysis

	TLCI	BLCN	CVRD	RSMV	ATFV	PSCJ	NXTE	EDGU	ASIA	DURA
TLCI		0.55	0.7	0.22	0.56	0.31	0.77	0.48	0.67	0.2	TLCI
BLCN	0.55		-0.04	-0.45	0.54	-0.38	0.75	0.03	0.3	-0.48	BLCN
CVRD	0.7	-0.04		0.72	0.39	0.76	0.42	0.69	0.48	0.62	CVRD
RSMV	0.22	-0.45	0.72		0.31	0.97	0.1	0.83	0.42	0.59	RSMV
ATFV	0.56	0.54	0.39	0.31		0.4	0.8	0.68	0.68	-0.07	ATFV
PSCJ	0.31	-0.38	0.76	0.97	0.4		0.19	0.87	0.53	0.57	PSCJ
NXTE	0.77	0.75	0.42	0.1	0.8	0.19		0.53	0.75	-0.15	NXTE
EDGU	0.48	0.03	0.69	0.83	0.68	0.87	0.53		0.71	0.27	EDGU
ASIA	0.67	0.3	0.48	0.42	0.68	0.53	0.75	0.71		0.03	ASIA
DURA	0.2	-0.48	0.62	0.59	-0.07	0.57	-0.15	0.27	0.03		DURA
	TLCI	BLCN	CVRD	RSMV	ATFV	PSCJ	NXTE	EDGU	ASIA	DURA

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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

PSCJ	+ 0.97	RSMV
EDGU	+ 0.87	PSCJ
EDGU	+ 0.83	RSMV
NXTE	+ 0.8	ATFV
NXTE	+ 0.77	TLCI
PSCJ	+ 0.76	CVRD

High negative correlations

DURA	- 0.48	BLCN
RSMV	- 0.45	BLCN
PSCJ	- 0.38	BLCN
DURA	- 0.15	NXTE
DURA	- 0.07	ATFV
CVRD	- 0.04	BLCN

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
TLCI	0.50	(0.06)	0.00	(0.03)	0.00	0.00	0.97	(0.99)	2.75
BLCN	1.67	(0.23)	0.00	(0.10)	0.00	0.00	3.44	(3.27)	13.44
CVRD	0.50	(0.03)	(0.05)	0.03	0.73	(0.50)	0.95	(1.06)	3.34
RSMV	0.52	0.01	(0.01)	0.07	0.58	(0.58)	1.01	(1.06)	2.98
ATFV	1.09	(0.06)	(0.04)	0.01	1.46	(1.14)	2.29	(2.73)	6.54
PSCJ	0.21	0.00	(0.13)	0.08	0.17	(0.25)	0.48	(0.43)	1.32
NXTE	1.25	(0.06)	(0.02)	0.02	1.53	(1.38)	2.50	(2.84)	6.30
EDGU	0.65	(0.02)	(0.02)	0.04	0.93	(0.63)	1.19	(1.50)	3.73
ASIA	0.86	0.02	0.02	0.09	1.06	(0.90)	1.83	(1.37)	5.72
DURA	0.71	(0.02)	(0.04)	0.02	1.32	(0.76)	1.11	(1.05)	8.68

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