Roundhill Daily Correlations

MAGX Etf

60.70 0.43 0.71%

The current 90-days correlation between Roundhill Daily 2X and Direxion Shares ETF is -0.8 (i.e., Pay attention - limited upside). The correlation of Roundhill Daily 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.

Roundhill Daily Correlation With Market

Very weak diversification

The correlation between Roundhill Daily 2X and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Roundhill Daily 2X and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Roundhill Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Roundhill Daily 2X. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with Roundhill Etf

0.91	SSO	ProShares Ultra SP500	Pair Corr
0.92	SPXL	Direxion Daily SP500	Pair Corr
0.93	QLD	ProShares Ultra QQQ	Pair Corr
0.92	UPRO	ProShares UltraPro SP500	Pair Corr
0.78	TECL	Direxion Daily Technology	Pair Corr
0.73	BULZ	MicroSectors Solactive	Pair Corr
0.79	USD	ProShares Ultra Semi	Pair Corr
0.64	FNGO	MicroSectors FANG Index	Pair Corr
0.64	FNGG	Direxion Daily Select	Pair Corr
0.64	FTBI	First Trust Exchange	Pair Corr
0.94	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.8	ITDJ	iShares Trust	Pair Corr
0.76	HLAL	Wahed FTSE USA	Pair Corr
0.93	QQQM	Invesco NASDAQ 100	Pair Corr
0.72	QULL	ETRACS 2x Leveraged	Pair Corr
0.64	ECOW	Pacer Emerging Markets	Pair Corr
0.93	QQH	HCM Defender 100	Pair Corr

Related Correlations Analysis

	TSLS	SARK	LABD	BITI	MIDU	SHNY	GLL	INDL	DRN	TARK
TSLS		0.22	0.42	-0.21	-0.72	-0.47	0.46	0.14	0.26	-0.08	TSLS
SARK	0.22		-0.48	0.85	-0.32	0.13	-0.29	0.1	-0.59	-0.97	SARK
LABD	0.42	-0.48		-0.81	-0.19	-0.69	0.87	-0.34	0.68	0.6	LABD
BITI	-0.21	0.85	-0.81		-0.01	0.49	-0.66	0.21	-0.72	-0.91	BITI
MIDU	-0.72	-0.32	-0.19	-0.01		0.35	-0.26	-0.35	0.09	0.25	MIDU
SHNY	-0.47	0.13	-0.69	0.49	0.35		-0.94	0.2	-0.33	-0.25	SHNY
GLL	0.46	-0.29	0.87	-0.66	-0.26	-0.94		-0.34	0.49	0.43	GLL
INDL	0.14	0.1	-0.34	0.21	-0.35	0.2	-0.34		0.04	-0.19	INDL
DRN	0.26	-0.59	0.68	-0.72	0.09	-0.33	0.49	0.04		0.67	DRN
TARK	-0.08	-0.97	0.6	-0.91	0.25	-0.25	0.43	-0.19	0.67		TARK
	TSLS	SARK	LABD	BITI	MIDU	SHNY	GLL	INDL	DRN	TARK

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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

GLL	+ 0.87	LABD
BITI	+ 0.85	SARK
DRN	+ 0.68	LABD
TARK	+ 0.67	DRN
TARK	+ 0.6	LABD
SHNY	+ 0.49	BITI

High negative correlations

TARK	- 0.97	SARK
GLL	- 0.94	SHNY
TARK	- 0.91	BITI
BITI	- 0.81	LABD
DRN	- 0.72	BITI
MIDU	- 0.72	TSLS

Roundhill Daily Constituents Risk-Adjusted Indicators

There is a big difference between Roundhill Etf performing well and Roundhill Daily 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 Roundhill Daily'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
TSLS	2.45	(0.11)	0.00	0.13	0.00	0.00	5.15	(4.27)	13.69
SARK	1.95	0.16	(0.02)	(0.01)	2.40	(1.98)	4.62	(3.81)	10.62
LABD	3.26	(0.97)	0.00	0.36	0.00	0.00	6.09	(8.48)	18.22
BITI	2.40	0.46	0.09	(0.22)	2.74	(2.44)	3.83	(4.08)	12.37
MIDU	2.26	(0.13)	0.01	0.03	3.10	(2.13)	5.50	(5.00)	11.52
SHNY	2.89	0.67	0.13	0.86	4.22	(3.04)	6.78	(5.52)	29.53
GLL	1.91	(0.48)	0.00	0.89	0.00	0.00	3.76	(4.66)	17.68
INDL	1.05	0.00	(0.03)	0.07	1.35	(1.00)	2.20	(1.78)	7.47
DRN	1.71	(0.27)	0.00	(0.10)	0.00	0.00	3.24	(3.93)	12.59
TARK	3.77	(0.38)	0.00	(0.02)	0.00	0.00	7.33	(9.32)	19.44

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