Leverage Shares Correlations

NOS3 Etf   0.10  0.01  9.09%   
The current 90-days correlation between Leverage Shares 3x and UBS Fund Solutions is 0.03 (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.

Leverage Shares Correlation With Market

Significant diversification

The correlation between Leverage Shares 3x and DJI is 0.02 (i.e., Significant 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.
  
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 against Leverage Etf

  0.85VUSA Vanguard Funds PublicPairCorr
  0.85SXR8 iShares Core SPPairCorr
  0.82VLUS BNP Paribas EasyPairCorr
  0.82XDWT Xtrackers MSCI WorldPairCorr
  0.78SYBJ SSgA SPDR ETFsPairCorr
  0.78DFEN VanEck Defense ETFPairCorr
  0.75GERD LG Gerd KommerPairCorr
  0.73GQ9 SPDR Gold SharesPairCorr
  0.5TRDX Invesco Treasury BondPairCorr
  0.86C101 Lyxor Fed FundsPairCorr
  0.86OUFE Ossiam Irl IcavPairCorr
  0.85UBU9 UBS plcPairCorr
  0.83DBPG Xtrackers SPPairCorr
  0.81US9L WisdomTree SP 500PairCorr
  0.8VWCE Vanguard FTSE AllPairCorr
  0.79T3KE HANetf ICAVPairCorr
  0.79VGWL Vanguard FTSE AllPairCorr
  0.7TRDS Invesco Us TreasuryPairCorr
  0.62DBX4 Xtrackers MSCIPairCorr
  0.41E908 Lyxor 1PairCorr
  0.33DBPE Xtrackers LevDAXPairCorr

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

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  1.21  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