Simplify Next Correlations

NXTI Etf

32.06 0.01 0.03%

The current 90-days correlation between Simplify Next Intangible and Innovator Equity 5 is 0.88 (i.e., Very poor diversification). The correlation of Simplify Next 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.

Simplify Next Correlation With Market

Very weak diversification

The correlation between Simplify Next Intangible and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Simplify Next Intangible and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Simplify Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Simplify Next Intangible. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with Simplify Etf

0.7	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.72	SPY	SPDR SP 500	Pair Corr
0.72	IVV	iShares Core SP	Pair Corr
0.75	VV	Vanguard Large Cap	Pair Corr
0.73	IWB	iShares Russell 1000	Pair Corr
0.77	ESGU	iShares ESG Aware	Pair Corr
0.71	AXP	American Express Earnings Call This Week	Pair Corr
0.69	BAC	Bank of America	Pair Corr

Moving against Simplify Etf

0.35

ATT Inc Earnings Call This Week

Pair Corr

Related Correlations Analysis

	VEGN	ACVF	HTUS	BNOV	TDSC	XHE	ESG	LEXI	MARM	EALT
VEGN		0.95	0.85	0.91	0.77	0.45	0.89	0.84	0.66	0.91	VEGN
ACVF	0.95		0.82	0.89	0.8	0.46	0.91	0.87	0.69	0.88	ACVF
HTUS	0.85	0.82		0.96	0.86	0.78	0.95	0.92	0.89	0.97	HTUS
BNOV	0.91	0.89	0.96		0.88	0.69	0.96	0.94	0.84	0.98	BNOV
TDSC	0.77	0.8	0.86	0.88		0.71	0.87	0.95	0.87	0.87	TDSC
XHE	0.45	0.46	0.78	0.69	0.71		0.69	0.73	0.86	0.69	XHE
ESG	0.89	0.91	0.95	0.96	0.87	0.69		0.95	0.87	0.96	ESG
LEXI	0.84	0.87	0.92	0.94	0.95	0.73	0.95		0.93	0.93	LEXI
MARM	0.66	0.69	0.89	0.84	0.87	0.86	0.87	0.93		0.83	MARM
EALT	0.91	0.88	0.97	0.98	0.87	0.69	0.96	0.93	0.83		EALT
	VEGN	ACVF	HTUS	BNOV	TDSC	XHE	ESG	LEXI	MARM	EALT

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Simplify Next Constituents Risk-Adjusted Indicators

There is a big difference between Simplify Etf performing well and Simplify Next 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 Simplify Next'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
VEGN	0.75	(0.04)	(0.04)	0.03	0.99	(0.75)	1.48	(1.86)	4.04
ACVF	0.52	(0.04)	(0.06)	0.02	0.80	(0.45)	0.96	(1.19)	3.25
HTUS	0.46	0.01	(0.03)	0.08	0.55	(0.51)	0.89	(0.99)	3.54
BNOV	0.37	(0.01)	(0.07)	0.05	0.56	(0.37)	0.90	(0.99)	2.66
TDSC	0.43	0.02	(0.03)	0.10	0.42	(0.47)	0.71	(0.83)	1.96
XHE	0.95	0.06	0.06	0.13	0.82	(1.21)	2.53	(1.39)	7.06
ESG	0.51	(0.01)	(0.04)	0.05	0.69	(0.49)	1.02	(1.10)	3.12
LEXI	0.48	0.01	(0.01)	0.09	0.58	(0.45)	0.98	(1.08)	2.77
MARM	0.07	0.01	(0.71)	0.19	0.00	(0.09)	0.18	(0.09)	0.34
EALT	0.42	(0.01)	(0.07)	0.04	0.54	(0.43)	0.79	(1.04)	2.49

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