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.
  
Check out Investing Opportunities to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving against MicroSectors Etf

  0.75VEA Vanguard FTSE DevelopedPairCorr
  0.66VO Vanguard Mid CapPairCorr
  0.65UYG ProShares Ultra FinaPairCorr
  0.64VUG Vanguard Growth IndexPairCorr
  0.63VB Vanguard Small CapPairCorr
  0.62VTI Vanguard Total StockPairCorr
  0.62SPY SPDR SP 500PairCorr
  0.62IVV iShares Core SPPairCorr
  0.61SSO ProShares Ultra SP500PairCorr
  0.61QLD ProShares Ultra QQQPairCorr
  0.59SPXL Direxion Daily SP500PairCorr
  0.59UPRO ProShares UltraPro SP500PairCorr
  0.58VTV Vanguard Value IndexPairCorr
  0.53LABU Direxion Daily SPPairCorr
  0.52TECL Direxion Daily TechnologyPairCorr
  0.5GUSH Direxion Daily SPPairCorr
  0.4NRGU Bank of MontrealPairCorr
  0.86TRV The Travelers Companies Earnings Call This WeekPairCorr
  0.72GE GE AerospacePairCorr
  0.69VWO Vanguard FTSE Emerging Sell-off TrendPairCorr
  0.61BAC Bank of America Earnings Call This WeekPairCorr
  0.61MSFT MicrosoftPairCorr
  0.6DIS Walt DisneyPairCorr
  0.57MMM 3M Company Earnings Call This WeekPairCorr
  0.57AXP American Express Earnings Call This WeekPairCorr
  0.54JPM JPMorgan Chase Earnings Call TomorrowPairCorr
  0.52CAT CaterpillarPairCorr
  0.49IBM International BusinessPairCorr
  0.49PFE Pfizer Inc Aggressive PushPairCorr
  0.46AA Alcoa Corp Earnings Call This WeekPairCorr
  0.37JNJ Johnson Johnson Earnings Call This WeekPairCorr
  0.32VZ Verizon Communications Earnings Call This WeekPairCorr

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   
TECLSOXL
TECLBULZ
BULZSOXL
LABUSOXL
LABUTECL
LABUBULZ
  
High negative correlations   
FNGDBULZ
TECLFNGD
FNGDSOXL
LABUFNGD

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.

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?

Investing in delisted delisted etfs can be risky, as the etf is no longer traded on a public exchange and can therefore be difficult to sell. Delisting typically occurs when a company has failed to meet exchange requirements or has been acquired. Before investing, it's important to thoroughly research the company, including its financial health and prospects for the future, as well as the reasons for its delisting. Additionally, it may be difficult to find accurate and up-to-date information on the company and its stock.