Formidable Fortress Correlations

KONG Etf

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The current 90-days correlation between Formidable Fortress ETF and Formidable ETF is 0.41 (i.e., Very weak diversification). The correlation of Formidable Fortress 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.

Formidable Fortress Correlation With Market

Very poor diversification

The correlation between Formidable Fortress ETF and DJI is 0.8 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Formidable Fortress ETF and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Formidable Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Formidable Fortress ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Formidable Etf

0.82	VO	Vanguard Mid Cap	Pair Corr
0.76	VXF	Vanguard Extended Market	Pair Corr
0.83	IJH	iShares Core SP	Pair Corr
0.89	IWR	iShares Russell Mid	Pair Corr
0.84	MDY	SPDR SP MIDCAP	Pair Corr
0.82	FV	First Trust Dorsey	Pair Corr
0.83	IVOO	Vanguard SP Mid	Pair Corr
0.74	JHMM	John Hancock Multifactor	Pair Corr
0.67	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.78	BA	Boeing	Pair Corr

Moving against Formidable Etf

0.51	MUU	Direxion Daily MU Buyout Trend	Pair Corr
0.51	MULL	GraniteShares 2x Long	Pair Corr
0.43	KORU	Direxion Daily South	Pair Corr
0.38	SHNY	Microsectors Gold	Pair Corr
0.33	AGQ	ProShares Ultra Silver Buyout Trend	Pair Corr
0.31	GDMN	WisdomTree Efficient Gold	Pair Corr
0.58	CSCO	Cisco Systems	Pair Corr
0.52	CAT	Caterpillar	Pair Corr
0.51	DD	Dupont De Nemours	Pair Corr
0.38	IBM	International Business Sell-off Trend	Pair Corr
0.36	DRAI	Draco Evolution AI	Pair Corr
0.35	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	FORH	PSFM	RFFC	LALT	HDMV	RAYC	FLSA	PJFV	TIME	HAIL
FORH		0.25	0.2	0.12	-0.31	0.4	0.78	0.26	0.64	0.71	FORH
PSFM	0.25		0.97	0.59	0.24	0.73	0.11	0.96	0.7	0.17	PSFM
RFFC	0.2	0.97		0.57	0.22	0.75	0.16	0.96	0.7	0.17	RFFC
LALT	0.12	0.59	0.57		0.17	0.36	-0.05	0.63	0.25	-0.22	LALT
HDMV	-0.31	0.24	0.22	0.17		0.05	-0.46	0.24	-0.14	-0.19	HDMV
RAYC	0.4	0.73	0.75	0.36	0.05		0.43	0.74	0.71	0.36	RAYC
FLSA	0.78	0.11	0.16	-0.05	-0.46	0.43		0.13	0.61	0.73	FLSA
PJFV	0.26	0.96	0.96	0.63	0.24	0.74	0.13		0.66	0.13	PJFV
TIME	0.64	0.7	0.7	0.25	-0.14	0.71	0.61	0.66		0.73	TIME
HAIL	0.71	0.17	0.17	-0.22	-0.19	0.36	0.73	0.13	0.73		HAIL
	FORH	PSFM	RFFC	LALT	HDMV	RAYC	FLSA	PJFV	TIME	HAIL

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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

RFFC	+ 0.97	PSFM
PJFV	+ 0.96	PSFM
PJFV	+ 0.96	RFFC
FLSA	+ 0.78	FORH
RAYC	+ 0.75	RFFC
PJFV	+ 0.74	RAYC

High negative correlations

FLSA	- 0.46	HDMV
HDMV	- 0.31	FORH
HAIL	- 0.22	LALT
HAIL	- 0.19	HDMV
TIME	- 0.14	HDMV
FLSA	- 0.05	LALT

Formidable Fortress Constituents Risk-Adjusted Indicators

There is a big difference between Formidable Etf performing well and Formidable Fortress 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 Formidable Fortress' 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
FORH	1.02	0.06	0.03	0.16	1.38	(1.01)	2.46	(2.29)	6.63
PSFM	0.15	0.01	(0.20)	0.11	0.00	(0.18)	0.42	(0.32)	0.90
RFFC	0.52	0.03	0.03	0.10	0.64	(0.54)	1.23	(1.06)	3.66
LALT	1.05	0.09	0.00	(0.25)	1.75	(1.02)	2.09	(2.56)	8.34
HDMV	0.42	(0.04)	(0.14)	(0.02)	0.53	(0.41)	0.77	(0.81)	1.97
RAYC	0.69	0.06	0.03	0.18	0.88	(0.72)	1.81	(1.18)	7.60
FLSA	0.66	(0.02)	(0.07)	0.00	0.89	(0.67)	1.18	(1.56)	8.76
PJFV	0.59	0.04	0.03	0.11	0.66	(0.61)	1.24	(1.06)	4.38
TIME	0.61	0.03	0.01	0.12	0.83	(0.57)	1.17	(1.77)	3.77
HAIL	1.45	(0.04)	0.01	0.05	2.01	(1.35)	2.63	(4.04)	8.49

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