MicroSectors FANG Correlations
| FNGU Etf | USD 508.00 13.75 2.78% |
The current 90-days correlation between MicroSectors FANG Index and Direxion Daily Semiconductor is 0.76 (i.e., Poor diversification). The correlation of MicroSectors FANG 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.
MicroSectors FANG Correlation With Market
Very weak diversification
The correlation between MicroSectors FANG Index and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding MicroSectors FANG Index and DJI in the same portfolio, assuming nothing else is changed.
MicroSectors |
Moving together with MicroSectors Etf
| 0.97 | SSO | ProShares Ultra SP500 | PairCorr |
| 0.97 | SPXL | Direxion Daily SP500 | PairCorr |
| 0.97 | QLD | ProShares Ultra QQQ | PairCorr |
| 0.96 | UPRO | ProShares UltraPro SP500 | PairCorr |
| 0.91 | TECL | Direxion Daily Technology | PairCorr |
| 0.67 | GUSH | Direxion Daily SP Potential Growth | PairCorr |
| 0.89 | UYG | ProShares Ultra Fina | PairCorr |
| 0.9 | NVDL | GraniteShares 15x Long | PairCorr |
| 0.9 | NVDX | T Rex 2X | PairCorr |
| 0.9 | NVDU | Direxion Daily NVDA | PairCorr |
| 0.93 | CRPT | First Trust SkyBridge | PairCorr |
| 0.84 | BITX | Volatility Shares Trust | PairCorr |
| 0.83 | CONL | GraniteShares ETF Trust | PairCorr |
| 0.92 | DAPP | VanEck Digital Trans | PairCorr |
| 0.84 | DPST | Direxion Daily Regional | PairCorr |
| 0.92 | WGMI | Valkyrie Bitcoin Miners | PairCorr |
| 0.97 | EOS | Eaton Vance Enhanced | PairCorr |
| 0.8 | ETH | Grayscale Ethereum Mini | PairCorr |
| 0.77 | HPQ | HP Inc | PairCorr |
| 0.76 | T | ATT Inc Fiscal Year End 22nd of January 2025 | PairCorr |
| 0.79 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.88 | BAC | Bank of America Aggressive Push | PairCorr |
| 0.79 | DIS | Walt Disney Sell-off Trend | PairCorr |
| 0.94 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
| 0.61 | XOM | Exxon Mobil Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.88 | INTC | Intel Fiscal Year End 23rd of January 2025 | PairCorr |
| 0.9 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
| 0.83 | WMT | Walmart Aggressive Push | PairCorr |
Moving against MicroSectors Etf
| 0.7 | NRGU | Bank Of Montreal | PairCorr |
| 0.85 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.85 | KO | Coca Cola Aggressive Push | PairCorr |
| 0.71 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
| 0.7 | PFE | Pfizer Inc Aggressive Push | PairCorr |
Related Correlations Analysis
| 0.06 | 0.06 | 0.28 | 0.38 | SOXL | ||
| 0.06 | -0.95 | 0.93 | -0.22 | BULZ | ||
| 0.06 | -0.95 | -0.92 | 0.29 | FNGD | ||
| 0.28 | 0.93 | -0.92 | -0.11 | TECL | ||
| 0.38 | -0.22 | 0.29 | -0.11 | LABU | ||
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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
| High negative correlations
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MicroSectors FANG Constituents Risk-Adjusted Indicators
There is a big difference between MicroSectors Etf performing well and MicroSectors FANG 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 MicroSectors FANG'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| SOXL | 4.45 | (0.79) | 0.00 | (0.05) | 0.00 | 8.73 | 29.64 | |||
| BULZ | 3.05 | 0.00 | 0.06 | 0.13 | 4.38 | 6.24 | 19.02 | |||
| FNGD | 2.93 | (0.19) | 0.00 | 0.19 | 0.00 | 8.37 | 21.85 | |||
| TECL | 2.83 | (0.15) | 0.03 | 0.08 | 4.30 | 5.44 | 19.94 | |||
| LABU | 2.94 | (0.50) | 0.00 | (0.02) | 0.00 | 6.23 | 23.20 |