DeFiance Daily Correlations

SMCX Etf

11.69 -0.16 -1.35%

Current 90-days correlation between DeFiance Daily Target and American Century STOXX is 0.35 (i.e., Weak diversification).The correlation of DeFiance Daily is a statistical measure of how it moves in relation to other instruments. The correlation coefficient ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5.

DeFiance Daily vs Market Correlation

Average diversification

Across the chosen horizon, SMCX and DJI show a correlation of 0.15 and fall into the Average diversification bucket. In portfolio terms, the overlap visualization shows how much shared movement remains after both positions are combined.

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Use World Market Map to better understand diversified portfolio construction. Additional portfolio transparency improves capital positioning. This includes a position in Defiance Daily Target across the allocation. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.03	-0.06	-0.03	0.12	-0.09	-0.04	0.11	-0.06	0.08	META
MSFT	-0.03		0.84	-0.2	-0.91	0.83	0.97	0.53	-0.92	-0.95	MSFT
UBER	-0.06	0.84		-0.17	-0.81	0.85	0.8	0.39	-0.81	-0.83	UBER
F	-0.03	-0.2	-0.17		0.01	0.13	-0.19	0.22	0.31	0.16	F
T	0.12	-0.91	-0.81	0.01		-0.86	-0.85	-0.47	0.82	0.86	T
A	-0.09	0.83	0.85	0.13	-0.86		0.81	0.65	-0.74	-0.85	A
CRM	-0.04	0.97	0.8	-0.19	-0.85	0.81		0.61	-0.89	-0.96	CRM
JPM	0.11	0.53	0.39	0.22	-0.47	0.65	0.61		-0.37	-0.59	JPM
MRK	-0.06	-0.92	-0.81	0.31	0.82	-0.74	-0.89	-0.37		0.92	MRK
XOM	0.08	-0.95	-0.83	0.16	0.86	-0.85	-0.96	-0.59	0.92		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.97	MSFT
XOM	+ 0.92	MRK
XOM	+ 0.86	T
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.83	MSFT

High negative correlations

XOM	- 0.96	CRM
XOM	- 0.95	MSFT
MRK	- 0.92	MSFT
T	- 0.91	MSFT
MRK	- 0.89	CRM
A	- 0.86	T

DeFiance Daily Competition Risk-Adjusted Indicators

There is a big difference between DeFiance Etf performing well and DeFiance 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 DeFiance 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
META	1.46	0.06	0.03	0.06	1.66	-1.51	2.38	-2.81	13.69
MSFT	1.29	-0.23	0.00	-0.67	0.00	0.00	2.19	-2.87	13.28
UBER	1.50	-0.33	0.00	-1.00	0.00	0.00	2.46	-3.82	11.09
F	1.34	-0.06	0.00	-0.07	0.00	0.00	3.61	-2.64	10.01
T	1.10	0.15	0.12	-0.58	1.14	-1.26	3.87	-1.85	8.53
A	1.27	-0.37	0.00	-0.37	0.00	0.00	2.48	-2.73	7.20
CRM	1.83	-0.27	0.00	-0.37	0.00	0.00	4.03	-4.75	12.37
JPM	1.24	-0.09	0.00	-0.07	0.00	0.00	2.34	-3.11	8.17
MRK	1.20	0.23	0.15	0.45	1.31	-1.29	2.54	-2.06	7.29
XOM	1.32	0.36	0.25	3.95	1.16	-1.56	2.90	-2.44	6.83

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