MicroSectors FANG Correlations

FNGO Etf

USD 113.39 1.33 1.19%

The current 90-days correlation between MicroSectors FANG Index and MicroSectors FANG ETN is 0.94 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as MicroSectors FANG moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if MicroSectors FANG Index moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

MicroSectors FANG Correlation With Market

Very weak diversification

The correlation between MicroSectors FANG Index and DJI is 0.49 (i.e., Very weak 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

0.97	SSO	ProShares Ultra SP500	Pair Corr
0.97	SPXL	Direxion Daily SP500	Pair Corr
0.98	QLD	ProShares Ultra QQQ	Pair Corr
0.97	UPRO	ProShares UltraPro SP500	Pair Corr
0.96	TECL	Direxion Daily Technology	Pair Corr
0.78	LABU	Direxion Daily SP	Pair Corr
0.8	UYG	ProShares Ultra Fina	Pair Corr
0.96	VTI	Vanguard Total Stock	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.83	BND	Vanguard Total Bond	Pair Corr
0.91	VTV	Vanguard Value Index	Pair Corr
0.94	VUG	Vanguard Growth Index	Pair Corr
0.93	VO	Vanguard Mid Cap	Pair Corr
0.85	VEA	Vanguard FTSE Developed Sell-off Trend	Pair Corr
0.9	VB	Vanguard Small Cap	Pair Corr
0.91	VWO	Vanguard FTSE Emerging	Pair Corr
0.92	JPM	JPMorgan Chase	Pair Corr
0.78	AA	Alcoa Corp	Pair Corr
0.75	PFE	Pfizer Inc	Pair Corr
0.9	CAT	Caterpillar	Pair Corr
0.69	MRK	Merck Company	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.75	DD	Dupont De Nemours	Pair Corr
0.79	BAC	Bank of America Aggressive Push	Pair Corr
0.82	GE	GE Aerospace	Pair Corr
0.84	CVX	Chevron Corp	Pair Corr

Moving against MicroSectors Etf

0.66	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.5	KO	Coca Cola	Pair Corr
0.38	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	FNGS	WEBL	FNGD	WANT	BNKU
FNGS		0.97	-0.99	0.78	0.94	FNGS
WEBL	0.97		-0.96	0.76	0.93	WEBL
FNGD	-0.99	-0.96		-0.79	-0.94	FNGD
WANT	0.78	0.76	-0.79		0.86	WANT
BNKU	0.94	0.93	-0.94	0.86		BNKU
	FNGS	WEBL	FNGD	WANT	BNKU

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

WEBL	+ 0.97	FNGS
BNKU	+ 0.94	FNGS
BNKU	+ 0.93	WEBL
BNKU	+ 0.86	WANT
WANT	+ 0.78	FNGS
WANT	+ 0.76	WEBL

High negative correlations

FNGD	- 0.99	FNGS
FNGD	- 0.96	WEBL
BNKU	- 0.94	FNGD
WANT	- 0.79	FNGD

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
FNGS	0.79	0.08	0.05	0.23	0.85	(0.88)	1.83	(1.63)	5.99
WEBL	2.25	0.10	0.10	0.17	2.50	(2.60)	5.30	(4.04)	15.41
FNGD	2.23	(0.28)	0.00	0.26	0.00	0.00	4.13	(4.82)	13.44
WANT	2.41	(0.01)	0.10	0.13	2.82	(2.52)	6.09	(4.90)	16.78
BNKU	2.35	0.32	0.21	0.23	2.30	(2.70)	5.16	(4.10)	13.14

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