Strategy Shares Correlations

ROMO Etf

USD 33.14 0.08 0.24%

The current 90-days correlation between Strategy Shares Newf and Invesco Dynamic Oil is 0.42 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Strategy Shares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Strategy Shares NewfoundReSolve moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Strategy Shares Correlation With Market

Almost no diversification

The correlation between Strategy Shares NewfoundReSolv and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategy Shares NewfoundReSolv and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Strategy Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in Strategy Shares NewfoundReSolve. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

To learn how to invest in Strategy Etf, please use our How to Invest in Strategy Shares guide.

Moving together with Strategy Etf

0.86	SIXD	AIM ETF Products	Pair Corr
0.86	AHYB	American Century ETF	Pair Corr
0.88	SYLD	Cambria Shareholder Yield Low Volatility	Pair Corr
0.76	SEIX	Virtus ETF Trust	Pair Corr
0.92	JULW	AIM ETF Products	Pair Corr
0.96	BBEU	JPMorgan BetaBuilders	Pair Corr
0.95	SMH	VanEck Semiconductor ETF	Pair Corr
0.86	RDIV	Invesco SP Ultra	Pair Corr
0.91	SPMD	SPDR Russell Small	Pair Corr
0.9	STXK	EA Series Trust	Pair Corr
0.93	EEMA	iShares MSCI Emerging	Pair Corr
0.81	GSIG	Goldman Sachs Access	Pair Corr
0.81	PWV	Invesco Dynamic Large	Pair Corr
0.86	ABI	VictoryShares Pioneer	Pair Corr
0.88	IAUM	iShares Gold Trust Sell-off Trend	Pair Corr
0.94	YLD	Principal Active High	Pair Corr
0.87	BHYB	Xtrackers USD High	Pair Corr
0.85	OASC	OneAscent Small Cap	Pair Corr
0.91	EDEN	iShares MSCI Denmark	Pair Corr
0.67	RSPH	Invesco SP 500	Pair Corr
0.94	DDLS	WisdomTree Dynamic	Pair Corr
0.81	EATZ	AdvisorShares Restaurant	Pair Corr
0.91	SFEB	FT Vest Small	Pair Corr
0.9	DBJP	Xtrackers MSCI Japan	Pair Corr
0.89	VBK	Vanguard Small Cap	Pair Corr
0.84	VUSB	Vanguard Ultra Short	Pair Corr
0.87	ISCG	iShares Morningstar	Pair Corr
0.91	XES	SPDR SP Oil	Pair Corr
0.85	THD	iShares MSCI Thailand	Pair Corr
0.93	PQNT	2023 ETF	Pair Corr

Moving against Strategy Etf

0.82	VXX	iPath Series B Low Volatility	Pair Corr
0.82	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.81	VIXM	ProShares VIX Mid Low Volatility	Pair Corr
0.81	VXZ	iPath Series B Low Volatility	Pair Corr

Related Correlations Analysis

	EMM	DIVY	XNAV	MFUL	CRAK	UMDD	FSGS	IWMW	IRTR	PXJ
EMM		0.9	0.93	0.91	0.71	0.84	0.66	0.79	0.9	0.92	EMM
DIVY	0.9		0.9	0.86	0.55	0.91	0.74	0.75	0.91	0.83	DIVY
XNAV	0.93	0.9		0.91	0.6	0.93	0.83	0.85	0.97	0.87	XNAV
MFUL	0.91	0.86	0.91		0.56	0.83	0.72	0.91	0.89	0.81	MFUL
CRAK	0.71	0.55	0.6	0.56		0.45	0.25	0.38	0.51	0.85	CRAK
UMDD	0.84	0.91	0.93	0.83	0.45		0.93	0.81	0.95	0.8	UMDD
FSGS	0.66	0.74	0.83	0.72	0.25	0.93		0.79	0.86	0.61	FSGS
IWMW	0.79	0.75	0.85	0.91	0.38	0.81	0.79		0.83	0.65	IWMW
IRTR	0.9	0.91	0.97	0.89	0.51	0.95	0.86	0.83		0.82	IRTR
PXJ	0.92	0.83	0.87	0.81	0.85	0.8	0.61	0.65	0.82		PXJ
	EMM	DIVY	XNAV	MFUL	CRAK	UMDD	FSGS	IWMW	IRTR	PXJ

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Strategy Shares Constituents Risk-Adjusted Indicators

There is a big difference between Strategy Etf performing well and Strategy Shares 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 Strategy Shares' 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
EMM	0.76	0.18	0.12	3.90	0.85	(0.80)	1.65	(1.60)	3.92
DIVY	0.53	0.12	0.13	0.66	0.41	(0.60)	1.30	(1.11)	3.26
XNAV	0.77	0.03	0.02	0.09	1.14	(0.73)	1.49	(1.85)	4.90
MFUL	0.19	0.00	(0.15)	0.15	0.24	(0.21)	0.37	(0.51)	1.24
CRAK	0.87	0.14	0.10	0.38	0.84	(0.96)	2.35	(1.47)	4.86
UMDD	2.07	0.18	0.11	0.11	2.23	(2.22)	5.66	(4.17)	11.49
FSGS	0.68	(0.04)	(0.05)	0.01	0.89	(0.68)	1.56	(1.69)	4.27
IWMW	0.48	0.00	(0.05)	0.05	0.94	(0.42)	1.15	(1.46)	4.10
IRTR	0.23	0.00	(0.10)	0.06	0.27	(0.24)	0.50	(0.49)	1.53
PXJ	1.07	0.28	0.19	0.48	1.04	(1.25)	3.13	(2.45)	7.84

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