Amplify Digital Correlations

IPAY Etf

USD 60.38 0.55 0.92%

The current 90-days correlation between Amplify Digital Payments and Global X FinTech is 0.92 (i.e., Almost no diversification). The correlation of Amplify Digital 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.

Amplify Digital Correlation With Market

Poor diversification

The correlation between Amplify Digital Payments and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Digital Payments and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Amplify Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Amplify Digital Payments. 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 Amplify Etf

0.68	XT	iShares Exponential	Pair Corr
0.61	ACES	ALPS Clean Energy	Pair Corr
0.63	IJT	iShares SP Small	Pair Corr
0.61	TPSC	Timothy Plan Small	Pair Corr
0.86	ITEQ	Amplify BlueStar Israel	Pair Corr
0.67	XMVM	Invesco SP MidCap	Pair Corr

Moving against Amplify Etf

0.4	VIXY	ProShares VIX Short	Pair Corr
0.4	VXX	iPath Series B	Pair Corr

Related Correlations Analysis

	FINX	IBUY	SKYY	HACK	CLOU
FINX		0.52	0.82	0.7	0.29	FINX
IBUY	0.52		0.69	0.06	-0.33	IBUY
SKYY	0.82	0.69		0.62	0.23	SKYY
HACK	0.7	0.06	0.62		0.71	HACK
CLOU	0.29	-0.33	0.23	0.71		CLOU
	FINX	IBUY	SKYY	HACK	CLOU

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

SKYY	+ 0.82	FINX
CLOU	+ 0.71	HACK
HACK	+ 0.7	FINX
SKYY	+ 0.69	IBUY
HACK	+ 0.62	SKYY
IBUY	+ 0.52	FINX

High negative correlations

CLOU

- 0.33

IBUY

Amplify Digital Constituents Risk-Adjusted Indicators

There is a big difference between Amplify Etf performing well and Amplify Digital 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 Amplify Digital'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
FINX	1.09	(0.01)	0.04	0.10	1.19	(1.28)	2.68	(1.97)	7.76
IBUY	0.86	(0.02)	0.02	0.10	0.87	(0.99)	2.47	(1.70)	4.84
SKYY	1.04	0.02	0.03	0.13	1.09	(1.17)	2.61	(1.83)	5.55
HACK	0.89	(0.04)	(0.04)	0.07	1.18	(0.86)	1.88	(1.81)	5.49
CLOU	1.07	(0.14)	(0.07)	0.01	1.44	(1.03)	2.10	(2.39)	5.17

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