MicroSectors FANG Correlations
FNGUDelisted Etf | USD 433.90 0.00 0.00% |
The current 90-days correlation between MicroSectors FANG Index and Direxion Daily Semiconductor is -0.1 (i.e., Good 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
Good diversification
The correlation between MicroSectors FANG Index and DJI is -0.13 (i.e., Good 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 against MicroSectors Etf
0.75 | VEA | Vanguard FTSE Developed | PairCorr |
0.66 | VO | Vanguard Mid Cap | PairCorr |
0.65 | UYG | ProShares Ultra Fina | PairCorr |
0.64 | VUG | Vanguard Growth Index | PairCorr |
0.63 | VB | Vanguard Small Cap | PairCorr |
0.62 | VTI | Vanguard Total Stock | PairCorr |
0.62 | SPY | SPDR SP 500 | PairCorr |
0.62 | IVV | iShares Core SP | PairCorr |
0.61 | SSO | ProShares Ultra SP500 | PairCorr |
0.61 | QLD | ProShares Ultra QQQ | PairCorr |
0.59 | SPXL | Direxion Daily SP500 | PairCorr |
0.59 | UPRO | ProShares UltraPro SP500 | PairCorr |
0.58 | VTV | Vanguard Value Index | PairCorr |
0.53 | LABU | Direxion Daily SP | PairCorr |
0.52 | TECL | Direxion Daily Technology | PairCorr |
0.5 | GUSH | Direxion Daily SP | PairCorr |
0.4 | NRGU | Bank of Montreal | PairCorr |
0.86 | TRV | The Travelers Companies Earnings Call This Week | PairCorr |
0.72 | GE | GE Aerospace | PairCorr |
0.69 | VWO | Vanguard FTSE Emerging Sell-off Trend | PairCorr |
0.61 | BAC | Bank of America Earnings Call This Week | PairCorr |
0.61 | MSFT | Microsoft | PairCorr |
0.6 | DIS | Walt Disney | PairCorr |
0.57 | MMM | 3M Company Earnings Call This Week | PairCorr |
0.57 | AXP | American Express Earnings Call This Week | PairCorr |
0.54 | JPM | JPMorgan Chase Earnings Call Tomorrow | PairCorr |
0.52 | CAT | Caterpillar | PairCorr |
0.49 | IBM | International Business | PairCorr |
0.49 | PFE | Pfizer Inc Aggressive Push | PairCorr |
0.46 | AA | Alcoa Corp Earnings Call This Week | PairCorr |
0.37 | JNJ | Johnson Johnson Earnings Call This Week | PairCorr |
0.32 | VZ | Verizon Communications Earnings Call This Week | PairCorr |
Related Correlations Analysis
0.98 | -0.85 | 0.99 | 0.7 | SOXL | ||
0.98 | -0.91 | 0.99 | 0.69 | BULZ | ||
-0.85 | -0.91 | -0.9 | -0.7 | FNGD | ||
0.99 | 0.99 | -0.9 | 0.7 | TECL | ||
0.7 | 0.69 | -0.7 | 0.7 | 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 | 5.42 | 0.68 | 0.28 | 0.35 | 5.24 | 12.13 | 79.45 | |||
BULZ | 4.30 | 0.57 | 0.27 | 0.36 | 4.05 | 10.55 | 59.10 | |||
FNGD | 3.83 | (0.64) | 0.00 | 0.39 | 0.00 | 4.80 | 43.06 | |||
TECL | 3.69 | 0.53 | 0.29 | 0.36 | 3.49 | 8.85 | 52.34 | |||
LABU | 4.54 | 0.04 | 0.09 | 0.25 | 5.62 | 10.97 | 41.44 |
Delisting Warning - FNGU
MicroSectors FANG Index was delisted
The entity MicroSectors FANG Index with a symbol FNGU was delisted from NYSE ARCA Exchange. Please try FNGA New with a symbol FNGA from now on. Check all delisted instruments accross multiple markets. |
Still Interested in MicroSectors FANG Index?
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