MicroSectors FANG Correlations

FNGD Etf

USD 5.18 0.15 2.98%

The current 90-days correlation between MicroSectors FANG Index and Capital Group Core is -0.77 (i.e., Pay attention - limited upside). 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.

MicroSectors FANG Correlation With Market

Excellent diversification

The correlation between MicroSectors FANG Index and DJI is -0.62 (i.e., Excellent 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.

Build AI portfolio with MicroSectors Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in MicroSectors FANG Index. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with MicroSectors Etf

0.94	SH	ProShares Short SP500	Pair Corr
0.95	PSQ	ProShares Short QQQ	Pair Corr
0.96	SPXU	ProShares UltraPro Short Aggressive Push	Pair Corr
0.95	SDS	ProShares UltraShort Aggressive Push	Pair Corr
0.96	SPXS	Direxion Daily SP	Pair Corr
0.96	QID	ProShares UltraShort QQQ Aggressive Push	Pair Corr
0.76	RWM	ProShares Short Russ Aggressive Push	Pair Corr
0.94	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.87	DOG	ProShares Short Dow30 Sell-off Trend	Pair Corr

Moving against MicroSectors Etf

0.96	VTI	Vanguard Total Stock	Pair Corr
0.96	VUG	Vanguard Growth Index	Pair Corr
0.95	SPY	SPDR SP 500	Pair Corr
0.95	IVV	iShares Core SP	Pair Corr
0.86	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.8	VTV	Vanguard Value Index	Pair Corr
0.4	VO	Vanguard Mid Cap	Pair Corr
0.96	NMAY	Innovator Growth 100	Pair Corr
0.92	IGM	iShares Expanded Tech	Pair Corr
0.9	ESGE	iShares ESG Aware	Pair Corr
0.89	EMOP	AB Active ETFs,	Pair Corr
0.87	VEA	Vanguard FTSE Developed	Pair Corr
0.87	IXN	iShares Global Tech	Pair Corr
0.85	HYG	iShares iBoxx High	Pair Corr
0.83	PPI	Investment Managers	Pair Corr
0.83	PULT	Putnam ETF Trust	Pair Corr
0.82	BKLN	Invesco Senior Loan	Pair Corr
0.73	AGMI	Themes Silver Miners	Pair Corr
0.72	SLV	iShares Silver Trust	Pair Corr
0.7	VYMI	Vanguard International	Pair Corr
0.69	WIA	Western AssetClaymore	Pair Corr
0.68	VTIP	Vanguard Short Term Sell-off Trend	Pair Corr
0.62	VPU	Vanguard Utilities Index	Pair Corr
0.54	VB	Vanguard Small Cap	Pair Corr
0.95	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.94	VGT	Vanguard Information	Pair Corr
0.92	FELG	Fidelity Covington Trust	Pair Corr
0.92	BJUN	Innovator SP 500	Pair Corr
0.91	RFDA	RiverFront Dynamic	Pair Corr
0.9	HLAL	Wahed FTSE USA	Pair Corr

Related Correlations Analysis

	CGBL	AOR	IYY	IWX	EPI	LRGF	EWU	USCL	QTEC	XME
CGBL		0.91	0.9	0.73	0.34	0.82	0.6	0.89	0.8	0.79	CGBL
AOR	0.91		0.98	0.9	0.61	0.91	0.8	0.98	0.91	0.77	AOR
IYY	0.9	0.98		0.88	0.56	0.92	0.78	1.0	0.91	0.72	IYY
IWX	0.73	0.9	0.88		0.64	0.9	0.76	0.86	0.88	0.69	IWX
EPI	0.34	0.61	0.56	0.64		0.51	0.59	0.58	0.54	0.35	EPI
LRGF	0.82	0.91	0.92	0.9	0.51		0.67	0.92	0.95	0.71	LRGF
EWU	0.6	0.8	0.78	0.76	0.59	0.67		0.77	0.66	0.47	EWU
USCL	0.89	0.98	1.0	0.86	0.58	0.92	0.77		0.91	0.73	USCL
QTEC	0.8	0.91	0.91	0.88	0.54	0.95	0.66	0.91		0.83	QTEC
XME	0.79	0.77	0.72	0.69	0.35	0.71	0.47	0.73	0.83		XME
	CGBL	AOR	IYY	IWX	EPI	LRGF	EWU	USCL	QTEC	XME

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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
CGBL	0.39	0.01	(0.02)	0.04	0.45	(0.41)	0.72	(0.66)	2.74
AOR	0.34	0.02	0.00	0.06	0.41	(0.36)	0.78	(0.65)	2.73
IYY	0.54	0.02	0.02	0.05	0.76	(0.54)	1.21	(1.21)	4.25
IWX	0.43	0.05	0.02	(0.91)	0.48	(0.44)	0.93	(0.87)	3.20
EPI	0.56	0.03	0.00	0.32	0.61	(0.59)	1.08	(0.90)	3.36
LRGF	0.54	0.02	(0.02)	0.82	0.82	(0.51)	1.14	(1.22)	4.17
EWU	0.53	(0.01)	(0.04)	0.01	0.58	(0.63)	1.08	(1.08)	2.75
USCL	0.55	0.00	0.00	0.04	0.80	(0.54)	1.27	(1.36)	4.02
QTEC	1.02	0.05	0.01	(0.51)	1.44	(1.02)	2.20	(1.88)	7.32
XME	1.54	0.22	0.08	1.08	2.10	(1.52)	3.41	(4.08)	13.65

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