MicroSectors FANG Correlations

FNGD Etf

USD 5.25 0.08 1.50%

The current 90-days correlation between MicroSectors FANG Index and Pacer Funds Trust is -0.55 (i.e., Excellent diversification). The correlation of MicroSectors FANG 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.

MicroSectors FANG Correlation With Market

Excellent diversification

The correlation between MicroSectors FANG Index and DJI is -0.59 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors FANG Index and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with MicroSectors Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in MicroSectors FANG Index. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with MicroSectors Etf

0.86	SH	ProShares Short SP500	Pair Corr
0.92	PSQ	ProShares Short QQQ	Pair Corr
0.86	SPXU	ProShares UltraPro Short	Pair Corr
0.86	SDS	ProShares UltraShort	Pair Corr
0.86	SPXS	Direxion Daily SP	Pair Corr
0.91	QID	ProShares UltraShort QQQ Aggressive Push	Pair Corr
0.85	SPDN	Direxion Daily SP	Pair Corr
0.71	DOG	ProShares Short Dow30	Pair Corr

Moving against MicroSectors Etf

0.93	VUG	Vanguard Growth Index	Pair Corr
0.84	SPY	SPDR SP 500	Pair Corr
0.84	IVV	iShares Core SP	Pair Corr
0.82	VTI	Vanguard Total Stock	Pair Corr
0.69	TOT	Advisor Managed Port	Pair Corr
0.4	BND	Vanguard Total Bond	Pair Corr
0.38	VTV	Vanguard Value Index	Pair Corr
0.35	IYJ	iShares Industrials ETF Low Volatility	Pair Corr
0.66	IBM	International Business	Pair Corr
0.64	AXP	American Express	Pair Corr
0.59	BAC	Bank of America Aggressive Push	Pair Corr
0.5	AA	Alcoa Corp	Pair Corr
0.34	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	EAFG	UBR	GEND	BEDZ	USE	NZUS	MCHS	DUKX	YXI
EAFG		0.34	0.76	0.12	-0.36	0.7	0.23	0.76	0.08	EAFG
UBR	0.34		0.48	-0.17	-0.74	0.42	-0.39	0.41	0.41	UBR
GEND	0.76	0.48		0.38	-0.35	0.4	0.01	0.45	0.21	GEND
BEDZ	0.12	-0.17	0.38		0.61	-0.34	0.5	-0.16	-0.43	BEDZ
USE	-0.36	-0.74	-0.35	0.61		-0.6	0.67	-0.49	-0.68	USE
NZUS	0.7	0.42	0.4	-0.34	-0.6		0.01	0.89	0.07	NZUS
MCHS	0.23	-0.39	0.01	0.5	0.67	0.01		0.12	-0.78	MCHS
DUKX	0.76	0.41	0.45	-0.16	-0.49	0.89	0.12		-0.1	DUKX
YXI	0.08	0.41	0.21	-0.43	-0.68	0.07	-0.78	-0.1		YXI
	EAFG	UBR	GEND	BEDZ	USE	NZUS	MCHS	DUKX	YXI

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

DUKX	+ 0.89	NZUS
GEND	+ 0.76	EAFG
DUKX	+ 0.76	EAFG
NZUS	+ 0.7	EAFG
MCHS	+ 0.67	USE
USE	+ 0.61	BEDZ

High negative correlations

YXI	- 0.78	MCHS
USE	- 0.74	UBR
YXI	- 0.68	USE
NZUS	- 0.6	USE
DUKX	- 0.49	USE
YXI	- 0.43	BEDZ

MicroSectors FANG Constituents Risk-Adjusted Indicators

There is a big difference between MicroSectors Etf performing well and MicroSectors FANG 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 MicroSectors FANG'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
EAFG	0.71	0.00	(0.01)	0.08	0.87	(0.70)	1.50	(1.63)	4.09
UBR	1.90	0.20	0.08	0.19	3.07	(1.99)	3.83	(3.72)	17.97
GEND	0.51	(0.01)	(0.06)	0.06	0.50	(0.65)	1.07	(0.95)	2.85
BEDZ	0.95	(0.09)	0.00	(0.01)	0.00	0.00	2.08	(1.92)	5.60
USE	0.95	(0.29)	0.00	(2.16)	0.00	0.00	1.40	(1.94)	5.33
NZUS	0.62	(0.03)	(0.04)	0.05	0.86	(0.59)	1.40	(1.33)	3.57
MCHS	0.82	(0.07)	0.00	(0.04)	0.00	0.00	1.48	(1.61)	6.18
DUKX	0.53	(0.02)	(0.04)	0.05	0.78	(0.52)	1.09	(1.23)	3.29
YXI	0.89	0.14	0.00	(0.08)	0.94	(1.02)	1.64	(1.61)	7.59

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