PeakShares Sector Correlations

PSTR Etf

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The current 90-days correlation between PeakShares Sector and BlackRock Industry Rotation is 0.87 (i.e., Very poor diversification). The correlation of PeakShares Sector 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.

PeakShares Sector Correlation With Market

Very poor diversification

The correlation between PeakShares Sector Rotation and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PeakShares Sector Rotation and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with PeakShares Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in PeakShares Sector Rotation. 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 PeakShares Etf

0.95	JEPI	JPMorgan Equity Premium	Pair Corr
0.83	XYLD	Global X SP	Pair Corr
0.9	DIVO	Amplify CWP Enhanced	Pair Corr
0.89	RYLD	Global X Russell	Pair Corr
0.89	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.75	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.82	KNG	FT Cboe Vest	Pair Corr
0.88	BUYW	Main Buywrite ETF	Pair Corr
0.93	IDME	International Drawdown	Pair Corr
0.65	JNUG	Direxion Daily Junior	Pair Corr
0.72	MUU	Direxion Daily MU Trending	Pair Corr
0.62	NUGT	Direxion Daily Gold	Pair Corr
0.71	MULL	GraniteShares 2x Long Trending	Pair Corr
0.81	AGQ	ProShares Ultra Silver	Pair Corr
0.71	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.64	SHNY	Microsectors Gold	Pair Corr
0.9	HEZU	iShares Currency Hedged	Pair Corr
0.8	SIXS	6 Meridian Small	Pair Corr
0.77	MYCI	SPDR SSGA My2029	Pair Corr
0.92	HYSD	Columbia ETF Trust	Pair Corr
0.71	QQQM	Invesco NASDAQ 100	Pair Corr
0.72	GBUG	Sprott Active Gold	Pair Corr
0.75	IBTG	iShares iBonds Dec	Pair Corr
0.89	VOO	Vanguard SP 500	Pair Corr
0.94	CPSU	Calamos SP 500	Pair Corr
0.64	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.92	QLC	FlexShares Quality Large	Pair Corr
0.91	PBJA	PGIM Rock ETF	Pair Corr
0.89	ZJAN	Innovator Equity Defined	Pair Corr
0.71	PLTM	GraniteShares Platinum	Pair Corr
0.93	ITDJ	iShares Trust	Pair Corr

Moving against PeakShares Etf

0.59

PUTW

WisdomTree CBOE SP Symbol Change

Pair Corr

Related Correlations Analysis

	INRO	FDAT	MARB	KEMQ	CARZ	EAOA	SPXV	THTA	OZEM	PPTY
INRO		0.5	0.37	0.32	0.91	0.97	0.99	0.7	0.37	-0.04	INRO
FDAT	0.5		-0.46	0.53	0.52	0.45	0.55	0.01	-0.29	0.31	FDAT
MARB	0.37	-0.46		-0.47	0.37	0.48	0.28	0.79	0.9	-0.43	MARB
KEMQ	0.32	0.53	-0.47		0.27	0.21	0.37	-0.33	-0.5	0.13	KEMQ
CARZ	0.91	0.52	0.37	0.27		0.94	0.92	0.66	0.39	-0.21	CARZ
EAOA	0.97	0.45	0.48	0.21	0.94		0.95	0.77	0.49	-0.06	EAOA
SPXV	0.99	0.55	0.28	0.37	0.92	0.95		0.64	0.27	-0.04	SPXV
THTA	0.7	0.01	0.79	-0.33	0.66	0.77	0.64		0.82	-0.18	THTA
OZEM	0.37	-0.29	0.9	-0.5	0.39	0.49	0.27	0.82		-0.38	OZEM
PPTY	-0.04	0.31	-0.43	0.13	-0.21	-0.06	-0.04	-0.18	-0.38		PPTY
	INRO	FDAT	MARB	KEMQ	CARZ	EAOA	SPXV	THTA	OZEM	PPTY

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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

SPXV	+ 0.99	INRO
EAOA	+ 0.97	INRO
SPXV	+ 0.95	EAOA
EAOA	+ 0.94	CARZ
SPXV	+ 0.92	CARZ
CARZ	+ 0.91	INRO

High negative correlations

OZEM	- 0.5	KEMQ
KEMQ	- 0.47	MARB
MARB	- 0.46	FDAT
PPTY	- 0.43	MARB
PPTY	- 0.38	OZEM
THTA	- 0.33	KEMQ

PeakShares Sector Constituents Risk-Adjusted Indicators

There is a big difference between PeakShares Etf performing well and PeakShares Sector 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 PeakShares Sector'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
INRO	0.60	(0.02)	(0.02)	0.05	0.92	(0.56)	1.28	(1.28)	3.50
FDAT	0.63	(0.04)	(0.06)	0.03	0.82	(0.61)	1.07	(1.19)	3.89
MARB	0.20	0.02	(0.14)	(6.67)	0.19	(0.27)	0.49	(0.35)	3.01
KEMQ	1.22	(0.07)	(0.04)	0.00	1.66	(1.36)	2.75	(2.41)	11.46
CARZ	1.17	0.04	0.04	0.10	1.67	(1.16)	2.23	(2.38)	8.02
EAOA	0.47	0.00	(0.03)	0.06	0.66	(0.44)	0.92	(1.02)	2.59
SPXV	0.61	(0.02)	(0.03)	0.04	0.92	(0.59)	1.44	(1.38)	3.63
THTA	0.30	0.02	(0.05)	0.13	0.38	(0.37)	0.89	(0.81)	2.65
OZEM	1.15	0.36	0.22	0.60	0.98	(1.24)	2.76	(2.02)	7.31
PPTY	0.62	(0.07)	0.00	(0.07)	0.00	0.00	1.03	(0.97)	3.58

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