Simplify Exchange Correlations

CAS Etf

USD 26.78 0.22 0.83%

The current 90-days correlation between Simplify Exchange Traded and Redwood Investment Management is 0.01 (i.e., Significant diversification). The correlation of Simplify Exchange 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. If the correlation is 0, the equities are not correlated; they are entirely random.

Simplify Exchange Correlation With Market

Very poor diversification

The correlation between Simplify Exchange Traded and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Simplify Exchange Traded and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Simplify Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Simplify Exchange Traded. 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 Simplify Etf

0.91	EWT	iShares MSCI Taiwan	Pair Corr
0.96	ASHR	Xtrackers Harvest CSI	Pair Corr
0.78	GXC	SPDR SP China	Pair Corr
0.87	CQQQ	Invesco China Technology	Pair Corr
0.7	CXSE	WisdomTree China	Pair Corr
0.88	EWH	iShares MSCI Hong	Pair Corr
0.78	KBA	KraneShares Bosera MSCI	Pair Corr
0.98	CNYA	iShares MSCI China	Pair Corr
0.87	SIXD	AIM ETF Products	Pair Corr
0.91	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.88	PMAY	Innovator SP 500	Pair Corr
0.92	SCZ	iShares MSCI EAFE	Pair Corr
0.89	UMAY	Innovator ETFs Trust	Pair Corr
0.89	FIDU	Fidelity MSCI Industrials	Pair Corr
0.93	PFF	iShares Preferred Sell-off Trend	Pair Corr
0.88	GAPR	First Trust Exchange	Pair Corr
0.78	NCPB	Nuveen Core Plus	Pair Corr
0.89	TAXT	Northern Trust Tax	Pair Corr
0.63	FXC	Invesco CurrencyShares	Pair Corr
0.91	CCNR	CoreCommodity Natural	Pair Corr
0.93	TLCI	Touchstone ETF Trust	Pair Corr
0.84	GENW	Spinnaker ETF Series	Pair Corr
0.9	EMES	Harbor ETF Trust	Pair Corr
0.76	XFIX	Fm Investments Symbol Change	Pair Corr
0.88	WLDR	Affinity World Leaders	Pair Corr
0.86	IAUM	iShares Gold Trust	Pair Corr
0.77	QLV	FlexShares Quality Low	Pair Corr
0.85	XAUG	FT Cboe Vest	Pair Corr
0.85	JPIE	JP Morgan Exchange	Pair Corr

Moving against Simplify Etf

0.73	VXX	iPath Series B	Pair Corr
0.73	VIXY	ProShares VIX Short	Pair Corr
0.43	PLTI	REX ETF Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.32	-0.37	0.39	0.13	-0.44	-0.06	0.36	0.39	0.36	META
MSFT	-0.32		0.82	-0.58	-0.74	0.74	0.86	0.07	-0.87	-0.92	MSFT
UBER	-0.37	0.82		-0.53	-0.61	0.81	0.63	-0.09	-0.8	-0.79	UBER
F	0.39	-0.58	-0.53		0.19	-0.48	-0.33	0.27	0.74	0.64	F
T	0.13	-0.74	-0.61	0.19		-0.51	-0.8	-0.16	0.54	0.65	T
A	-0.44	0.74	0.81	-0.48	-0.51		0.56	-0.02	-0.67	-0.8	A
CRM	-0.06	0.86	0.63	-0.33	-0.8	0.56		0.43	-0.66	-0.84	CRM
JPM	0.36	0.07	-0.09	0.27	-0.16	-0.02	0.43		0.21	-0.1	JPM
MRK	0.39	-0.87	-0.8	0.74	0.54	-0.67	-0.66	0.21		0.87	MRK
XOM	0.36	-0.92	-0.79	0.64	0.65	-0.8	-0.84	-0.1	0.87		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

XOM	+ 0.87	MRK
CRM	+ 0.86	MSFT
UBER	+ 0.82	MSFT
A	+ 0.81	UBER
A	+ 0.74	MSFT
MRK	+ 0.74	F

High negative correlations

XOM	- 0.92	MSFT
MRK	- 0.87	MSFT
XOM	- 0.84	CRM
XOM	- 0.8	A
CRM	- 0.8	T
MRK	- 0.8	UBER

Simplify Exchange Competition Risk-Adjusted Indicators

There is a big difference between Simplify Etf performing well and Simplify Exchange 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 Simplify Exchange'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	1.48	0.06	0.03	0.13	1.43	(1.79)	3.43	(2.60)	13.69
MSFT	1.31	(0.36)	0.00	(1.07)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.54	(0.36)	0.00	(0.71)	0.00	0.00	2.46	(3.82)	11.09
F	1.20	0.03	0.02	0.09	1.21	(1.45)	3.34	(2.30)	7.16
T	1.01	0.14	0.08	28.20	0.94	(1.19)	3.87	(1.76)	7.44
A	1.23	(0.29)	0.00	(0.18)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.70	(0.43)	0.00	(0.39)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.21	(0.08)	(0.03)	0.00	1.66	(1.30)	2.34	(2.63)	7.38
MRK	1.28	0.39	0.28	0.63	0.97	(1.54)	2.93	(1.98)	8.74
XOM	1.27	0.37	0.23	1.41	1.06	(1.46)	2.90	(2.12)	6.83

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