Elevation Series Correlations

LRNZ Etf

USD 47.36 0.23 0.49%

The current 90-days correlation between Elevation Series Trust and BondBloxx ETF Trust is 0.36 (i.e., Weak diversification). The correlation of Elevation Series 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.

Elevation Series Correlation With Market

Weak diversification

The correlation between Elevation Series Trust and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Elevation Series Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Elevation Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Elevation Series Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with Elevation Etf

0.8	VGT	Vanguard Information	Pair Corr
0.73	XLK	Technology Select Sector	Pair Corr
0.76	IYW	iShares Technology ETF	Pair Corr
0.73	CIBR	First Trust NASDAQ	Pair Corr
0.8	FTEC	Fidelity MSCI Information	Pair Corr
0.65	IGV	iShares Expanded Tech	Pair Corr
0.65	FDN	First Trust Dow	Pair Corr
0.62	IGM	iShares Expanded Tech	Pair Corr
0.75	PTIR	GraniteShares 2x Long	Pair Corr
0.74	PLTU	Direxion Daily PLTR	Pair Corr

Moving against Elevation Etf

0.47	NUGT	Direxion Daily Gold	Pair Corr
0.46	GDXU	MicroSectors Gold Miners	Pair Corr
0.46	JNUG	Direxion Daily Junior	Pair Corr
0.37	AGQ	ProShares Ultra Silver Downward Rally	Pair Corr
0.48	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.44	STOT	SPDR DoubleLine Short	Pair Corr
0.37	SGVT	Schwab Strategic Trust	Pair Corr
0.36	SETM	Sprott Energy Transition	Pair Corr
0.33	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.52	VGSH	Vanguard Short Term Sell-off Trend	Pair Corr
0.39	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.38	FUSI	American Century ETF	Pair Corr
0.33	SCYB	Schwab Strategic Trust	Pair Corr

Related Correlations Analysis

	XHYF	XPND	AIBU	KEMQ	CEFZ	EGGY	UBOT	TEK	ABIG	XUDV
XHYF		-0.1	-0.42	0.44	0.92	-0.31	0.37	-0.11	0.78	0.9	XHYF
XPND	-0.1		0.89	0.37	0.02	0.92	0.72	0.93	0.37	-0.03	XPND
AIBU	-0.42	0.89		0.28	-0.26	0.94	0.54	0.92	0.13	-0.34	AIBU
KEMQ	0.44	0.37	0.28		0.54	0.35	0.74	0.56	0.63	0.49	KEMQ
CEFZ	0.92	0.02	-0.26	0.54		-0.15	0.49	0.04	0.85	0.92	CEFZ
EGGY	-0.31	0.92	0.94	0.35	-0.15		0.67	0.93	0.15	-0.19	EGGY
UBOT	0.37	0.72	0.54	0.74	0.49	0.67		0.77	0.65	0.51	UBOT
TEK	-0.11	0.93	0.92	0.56	0.04	0.93	0.77		0.39	-0.05	TEK
ABIG	0.78	0.37	0.13	0.63	0.85	0.15	0.65	0.39		0.76	ABIG
XUDV	0.9	-0.03	-0.34	0.49	0.92	-0.19	0.51	-0.05	0.76		XUDV
	XHYF	XPND	AIBU	KEMQ	CEFZ	EGGY	UBOT	TEK	ABIG	XUDV

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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

EGGY	+ 0.94	AIBU
TEK	+ 0.93	XPND
TEK	+ 0.93	EGGY
CEFZ	+ 0.92	XHYF
EGGY	+ 0.92	XPND
TEK	+ 0.92	AIBU

High negative correlations

AIBU	- 0.42	XHYF
XUDV	- 0.34	AIBU
EGGY	- 0.31	XHYF
CEFZ	- 0.26	AIBU
XUDV	- 0.19	EGGY
EGGY	- 0.15	CEFZ

Elevation Series Constituents Risk-Adjusted Indicators

There is a big difference between Elevation Etf performing well and Elevation Series 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 Elevation Series' 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
XHYF	0.14	0.02	(0.34)	0.22	0.00	(0.17)	0.32	(0.21)	1.31
XPND	0.81	(0.11)	0.00	(0.03)	0.00	0.00	1.59	(2.00)	4.84
AIBU	2.21	(0.31)	0.00	(0.04)	0.00	0.00	4.61	(6.25)	15.07
KEMQ	1.04	0.04	0.03	0.13	1.10	(1.17)	2.75	(1.95)	6.49
CEFZ	0.47	0.02	(0.03)	0.13	0.58	(0.52)	1.02	(1.11)	3.90
EGGY	1.30	(0.18)	0.00	(0.08)	0.00	0.00	2.38	(3.80)	8.04
UBOT	2.09	(0.05)	0.02	0.07	2.59	(2.19)	3.61	(4.60)	12.04
TEK	1.11	(0.08)	(0.04)	0.01	1.73	(0.96)	2.15	(2.97)	7.42
ABIG	0.58	(0.03)	(0.05)	0.06	0.76	(0.56)	1.26	(1.44)	3.12
XUDV	0.65	0.02	0.01	0.12	0.61	(0.74)	1.32	(1.13)	2.96

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