Leverage Shares Correlations

2VA Etf   73.93  1.15  1.53%   
The current 90-days correlation between Leverage Shares 2x and Leverage Shares 3x is 0.07 (i.e., Significant diversification). The correlation of Leverage Shares 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.

Leverage Shares Correlation With Market

Good diversification

The correlation between Leverage Shares 2x and DJI is -0.17 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leverage Shares 2x and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Leverage Shares could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Leverage Shares when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Leverage Shares - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Leverage Shares 2x to buy it.

Moving together with Leverage Etf

  0.62GQ9 SPDR Gold SharesPairCorr
  0.88VUSA Vanguard Funds PublicPairCorr
  0.87SXR8 iShares Core SPPairCorr
  0.85SYBJ SSgA SPDR ETFsPairCorr
  0.76TRDX Invesco Treasury BondPairCorr
  0.83GERD LG Gerd KommerPairCorr
  0.87VLUS BNP Paribas EasyPairCorr
  0.84XDWT Xtrackers MSCI WorldPairCorr
  0.61DFEN VanEck Defense ETFPairCorr
  0.88TRDS Invesco Us TreasuryPairCorr
  0.85T3KE HANetf ICAVPairCorr
  0.85US9L WisdomTree SP 500PairCorr
  0.85VWCE Vanguard FTSE AllPairCorr
  0.85V80A Vanguard Funds PLCPairCorr
  0.63DBX4 Xtrackers MSCIPairCorr
  0.88UBU9 UBS plcPairCorr
  0.85VGWL Vanguard FTSE AllPairCorr
  0.88C101 Lyxor Fed FundsPairCorr
  0.9OUFE Ossiam Irl IcavPairCorr
  0.86DBPG Xtrackers SPPairCorr

Moving against Leverage Etf

  0.51DBPD Xtrackers ShortDAXPairCorr

Related Correlations Analysis

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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   
JPMCRM
CRMT
JPMT
MSFTMETA
XOMUBER
MRKA
  
High negative correlations   
MRKJPM
MRKCRM
XOMMSFT
CRMUBER
MRKT
TUBER

Leverage Shares Competition Risk-Adjusted Indicators

There is a big difference between Leverage Etf performing well and Leverage 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 Leverage 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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.16  0.06  0.03  0.15  1.43 
 2.62 
 7.43 
MSFT  0.87 (0.02)(0.02)(0.01) 1.63 
 1.78 
 8.14 
UBER  1.71 (0.32) 0.00 (0.34) 0.00 
 2.67 
 20.41 
F  1.44 (0.15) 0.00 (0.08) 0.00 
 2.53 
 11.21 
T  0.96  0.11  0.08  0.52  1.12 
 1.93 
 7.95 
A  1.24 (0.09) 0.00 (0.16) 0.00 
 2.71 
 9.02 
CRM  1.48  0.37  0.23  0.30  1.30 
 3.18 
 14.80 
JPM  1.04  0.16  0.14  0.11  1.08 
 1.99 
 15.87 
MRK  0.96 (0.27) 0.00 (1.10) 0.00 
 1.72 
 5.17 
XOM  0.90 (0.14) 0.00 (0.43) 0.00 
 1.83 
 6.06 

Leverage Shares Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Leverage Shares etf to make a market-neutral strategy. Peer analysis of Leverage Shares could also be used in its relative valuation, which is a method of valuing Leverage Shares by comparing valuation metrics with similar companies.
 Risk & Return  Correlation