Leverage Shares Correlations
| 3VTE Etf | 4.10 0.05 1.20% |
The current 90-days correlation between Leverage Shares 3x and UBS Fund Solutions is 0.55 (i.e., Very weak 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.
Leverage Shares Correlation With Market
Very weak diversification
The correlation between Leverage Shares 3x and DJI is 0.46 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Leverage Shares 3x and DJI in the same portfolio, assuming nothing else is changed.
Leverage |
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 3x to buy it.
Moving together with Leverage Etf
| 0.8 | UIM5 | UBS Fund Solutions | PairCorr |
| 0.73 | XDJP | Xtrackers Nikkei 225 | PairCorr |
| 0.7 | SXRZ | iShares VII PLC | PairCorr |
| 0.82 | VUSA | Vanguard Funds Public | PairCorr |
| 0.63 | EXX7 | iShares Nikkei 225 | PairCorr |
| 0.84 | SXR8 | iShares Core SP | PairCorr |
| 0.81 | SYBJ | SSgA SPDR ETFs | PairCorr |
| 0.77 | TRDX | Invesco Treasury Bond | PairCorr |
| 0.92 | GERD | LG Gerd Kommer | PairCorr |
| 0.88 | VLUS | BNP Paribas Easy | PairCorr |
| 0.81 | XDWT | Xtrackers MSCI World | PairCorr |
| 0.66 | DFEN | VanEck Defense ETF | PairCorr |
| 0.8 | TRDS | Invesco Us Treasury | PairCorr |
| 0.85 | T3KE | HANetf ICAV | PairCorr |
| 0.8 | US9L | WisdomTree SP 500 | PairCorr |
| 0.89 | VWCE | Vanguard FTSE All | PairCorr |
| 0.9 | V80A | Vanguard Funds PLC | PairCorr |
| 0.84 | UBU9 | UBS plc | PairCorr |
| 0.9 | VGWL | Vanguard FTSE All | PairCorr |
| 0.69 | C101 | Lyxor Fed Funds | PairCorr |
| 0.85 | OUFE | Ossiam Irl Icav | PairCorr |
| 0.89 | DBPG | Xtrackers SP | PairCorr |
| 0.8 | E908 | Lyxor 1 | PairCorr |
| 0.62 | DBPE | Xtrackers LevDAX | PairCorr |
Moving against Leverage Etf
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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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 Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.21 | 0.10 | 0.05 | 0.23 | 1.41 | 2.62 | 7.43 | |||
| MSFT | 0.86 | 0.00 | (0.01) | 0.03 | 1.61 | 1.78 | 8.14 | |||
| UBER | 1.72 | (0.25) | 0.00 | (2.15) | 0.00 | 2.67 | 20.41 | |||
| F | 1.45 | (0.15) | 0.00 | (0.07) | 0.00 | 2.53 | 11.21 | |||
| T | 0.95 | 0.10 | 0.06 | 0.42 | 1.12 | 1.93 | 7.95 | |||
| A | 1.23 | (0.05) | 0.00 | (0.07) | 0.00 | 2.71 | 9.02 | |||
| CRM | 1.49 | 0.40 | 0.22 | (11.15) | 1.31 | 3.18 | 14.80 | |||
| JPM | 1.06 | 0.16 | 0.15 | 0.13 | 1.09 | 1.99 | 15.87 | |||
| MRK | 0.98 | (0.25) | 0.00 | (1.14) | 0.00 | 1.72 | 5.17 | |||
| XOM | 0.90 | (0.12) | 0.00 | (0.76) | 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 |