ETRACS 2x Correlations

IWML Etf

USD 19.43 0.25 1.27%

The current 90-days correlation between ETRACS 2x Leveraged and ProShares Ultra SP500 is 0.86 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ETRACS 2x moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ETRACS 2x Leveraged moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ETRACS 2x Correlation With Market

Very poor diversification

The correlation between ETRACS 2x Leveraged and DJI is 0.83 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ETRACS 2x Leveraged and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ETRACS Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ETRACS 2x Leveraged. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with ETRACS Etf

0.99	SSO	ProShares Ultra SP500	Pair Corr
0.99	SPXL	Direxion Daily SP500	Pair Corr
0.98	QLD	ProShares Ultra QQQ	Pair Corr
0.88	NRGU	Bank of Montreal	Pair Corr
0.99	UPRO	ProShares UltraPro SP500	Pair Corr
0.98	TECL	Direxion Daily Technology	Pair Corr
0.7	LABU	Direxion Daily SP	Pair Corr
0.88	GUSH	Direxion Daily SP	Pair Corr
0.96	UYG	ProShares Ultra Fina	Pair Corr
0.99	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.99	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.99	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.61	BND	Vanguard Total Bond	Pair Corr
0.99	VTV	Vanguard Value Index	Pair Corr
0.98	VUG	Vanguard Growth Index	Pair Corr
0.99	VO	Vanguard Mid Cap	Pair Corr
0.96	VEA	Vanguard FTSE Developed	Pair Corr
0.99	VB	Vanguard Small Cap	Pair Corr
0.97	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.91	IBM	International Business Earnings Call This Week	Pair Corr
0.92	MMM	3M Company	Pair Corr
0.97	BAC	Bank of America	Pair Corr
0.92	GE	GE Aerospace Earnings Call This Week	Pair Corr
0.93	AA	Alcoa Corp	Pair Corr
0.88	PFE	Pfizer Inc	Pair Corr
0.98	CAT	Caterpillar	Pair Corr
0.94	DIS	Walt Disney	Pair Corr
0.96	MSFT	Microsoft	Pair Corr
0.97	JPM	JPMorgan Chase	Pair Corr
0.98	AXP	American Express	Pair Corr

Moving against ETRACS Etf

0.56	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.65	MCD	McDonalds	Pair Corr
0.57	KO	Coca Cola Earnings Call This Week	Pair Corr
0.55	PG	Procter Gamble	Pair Corr
0.38	VZ	Verizon Communications Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.82	0.55	0.93	0.29	0.94	0.23	0.56	META
MSFT	0.98		0.87	0.85	0.52	0.89	0.29	0.96	0.24	0.55	MSFT
UBER	0.84	0.87		0.9	0.42	0.81	0.54	0.88	0.21	0.5	UBER
F	0.82	0.85	0.9		0.4	0.84	0.28	0.91	0.43	0.72	F
T	0.55	0.52	0.42	0.4		0.57	0.17	0.5	0.27	0.22	T
A	0.93	0.89	0.81	0.84	0.57		0.24	0.89	0.37	0.67	A
CRM	0.29	0.29	0.54	0.28	0.17	0.24		0.23	-0.26	-0.11	CRM
JPM	0.94	0.96	0.88	0.91	0.5	0.89	0.23		0.32	0.64	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.37	-0.26	0.32		0.55	MRK
XOM	0.56	0.55	0.5	0.72	0.22	0.67	-0.11	0.64	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.98	META
JPM	+ 0.96	MSFT
JPM	+ 0.94	META
A	+ 0.93	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.26	CRM
XOM	- 0.11	CRM

ETRACS 2x Competition Risk-Adjusted Indicators

There is a big difference between ETRACS Etf performing well and ETRACS 2x 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 ETRACS 2x'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
META	1.51	0.26	0.21	0.32	1.10	(1.82)	3.99	(2.35)	10.48
MSFT	0.90	0.30	0.27	0.47	0.54	(1.09)	2.33	(1.08)	8.85
UBER	1.64	0.20	0.13	0.33	1.40	(2.08)	4.19	(2.54)	10.87
F	1.32	0.14	0.06	0.32	1.47	(1.42)	2.69	(2.61)	7.46
T	1.02	(0.05)	(0.10)	0.00	1.35	(1.06)	2.35	(2.35)	5.71
A	1.46	(0.07)	0.00	0.09	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.13)	(0.04)	0.04	1.74	(1.28)	2.95	(3.19)	9.31
JPM	0.90	0.22	0.18	0.38	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.39	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.05	(0.04)	0.41	1.36	(1.15)	2.40	(2.58)	5.84

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