MicroSectors FANG Correlations

Summary

FNGUDelisted Etf

USD 29.42 0.27 0.91%

The current 90-days correlation between MicroSectors FANG Index and Fidelity Advisor Large is -0.11 (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 rate.

Moving together with MicroSectors Etf

0.69	SSO	ProShares Ultra SP500 Trending	Pair Corr
0.64	SPXL	Direxion Daily SP500	Pair Corr
0.69	QLD	ProShares Ultra QQQ	Pair Corr
0.67	UPRO	ProShares UltraPro SP500	Pair Corr
0.67	TECL	Direxion Daily Technology	Pair Corr
0.79	LABU	Direxion Daily SP	Pair Corr
0.76	USD	ProShares Ultra Semi	Pair Corr
0.66	BULZ	MicroSectors Solactive	Pair Corr
0.64	FNGG	Direxion Daily Select	Pair Corr
0.85	ICLN	iShares Global Clean	Pair Corr
0.71	FELG	Fidelity Covington Trust	Pair Corr
0.72	IYW	iShares Technology ETF	Pair Corr
0.64	MUNC	Northern Funds	Pair Corr
0.81	IXSRF	IXSRF	Pair Corr
0.67	FEMR	Fidelity Covington Trust	Pair Corr
0.67	VGT	Vanguard Information	Pair Corr
0.66	TSLP	Kurv Yield Premium	Pair Corr
0.74	EEMV	iShares MSCI Emerging	Pair Corr
0.61	PULT	Putnam ETF Trust	Pair Corr

Moving against MicroSectors Etf

0.65	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.65	DEFI	Tidal Commodities Trust	Pair Corr
0.61	UYG	ProShares Ultra Fina	Pair Corr
0.66	BITO	ProShares Bitcoin	Pair Corr

Related Correlations Analysis

	FALIX	FALAX	MDYG	MDYV	FELV	SPYX	SMLF	FLJP	ASHR	FLIN
FALIX		0.87	0.63	0.23	0.84	0.88	0.73	0.66	0.78	0.3	FALIX
FALAX	0.87		0.41	-0.02	0.78	0.86	0.72	0.79	0.79	0.35	FALAX
MDYG	0.63	0.41		0.81	0.61	0.5	0.69	0.2	0.48	-0.05	MDYG
MDYV	0.23	-0.02	0.81		0.21	0.0	0.42	-0.25	0.07	-0.34	MDYV
FELV	0.84	0.78	0.61	0.21		0.93	0.61	0.73	0.86	0.4	FELV
SPYX	0.88	0.86	0.5	0.0	0.93		0.63	0.8	0.89	0.48	SPYX
SMLF	0.73	0.72	0.69	0.42	0.61	0.63		0.51	0.64	0.01	SMLF
FLJP	0.66	0.79	0.2	-0.25	0.73	0.8	0.51		0.67	0.62	FLJP
ASHR	0.78	0.79	0.48	0.07	0.86	0.89	0.64	0.67		0.29	ASHR
FLIN	0.3	0.35	-0.05	-0.34	0.4	0.48	0.01	0.62	0.29		FLIN
	FALIX	FALAX	MDYG	MDYV	FELV	SPYX	SMLF	FLJP	ASHR	FLIN

Please upgrade your account to get full access to Macroaxis premium features

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

SPYX	+ 0.93	FELV
ASHR	+ 0.89	SPYX
SPYX	+ 0.88	FALIX
FALAX	+ 0.87	FALIX
SPYX	+ 0.86	FALAX
ASHR	+ 0.86	FELV

High negative correlations

FLIN	- 0.34	MDYV
FLJP	- 0.25	MDYV
FLIN	- 0.05	MDYG
MDYV	- 0.02	FALAX
SPYX	- 0.0	MDYV

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
FALIX	0.61	(0.06)	0.00	(0.03)	0.00	0.00	1.15	(1.34)	8.07
FALAX	0.62	(0.06)	0.00	(1.27)	0.00	0.00	1.14	(1.35)	4.08
MDYG	0.73	(0.04)	(0.04)	(0.01)	0.98	(0.74)	1.77	(1.43)	5.05
MDYV	0.69	(0.05)	0.00	(0.02)	0.00	0.00	1.41	(1.25)	6.15
FELV	0.49	0.00	(0.01)	0.03	0.60	(0.50)	1.05	(0.93)	3.79
SPYX	0.54	0.02	0.02	0.06	0.77	(0.53)	1.26	(1.15)	4.14
SMLF	0.82	0.01	(0.02)	(1.24)	1.18	(0.74)	1.76	(1.86)	6.26
FLJP	0.72	0.01	(0.03)	(0.02)	1.02	(0.75)	1.59	(1.58)	5.77
ASHR	0.93	0.12	0.08	0.19	1.08	(1.01)	2.69	(1.49)	7.93
FLIN	0.53	0.01	(0.02)	0.19	0.58	(0.55)	1.06	(1.04)	3.09

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC