USCF ETF Correlations

USE Etf

22.97 0.13 0.56%

The current 90-days correlation between USCF ETF Trust and Direxion Daily QCOM is -0.12 (i.e., Good diversification). The correlation of USCF ETF 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.

USCF ETF Correlation With Market

Average diversification

The correlation between USCF ETF Trust and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding USCF ETF Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with USCF Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in USCF ETF Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with USCF Etf

0.79	SHLD	Global X Defense	Pair Corr
0.69	PG	Procter Gamble	Pair Corr
0.86	HD	Home Depot	Pair Corr
0.67	T	ATT Inc	Pair Corr
0.7	HPQ	HP Inc	Pair Corr

Moving against USCF Etf

0.75	FB	ProShares Trust ProShares	Pair Corr
0.73	SWP	SWP Growth Income	Pair Corr
0.6	LUX	Tema Global	Pair Corr
0.59	SLV	iShares Silver Trust	Pair Corr
0.59	SIVR	abrdn Physical Silver	Pair Corr
0.57	GLTR	abrdn Physical Precious	Pair Corr
0.55	GLD	SPDR Gold Shares	Pair Corr
0.55	IAU	iShares Gold Trust	Pair Corr
0.55	GLDM	SPDR Gold Mini	Pair Corr
0.55	SGOL	abrdn Physical Gold	Pair Corr
0.55	IAUM	iShares Gold Trust	Pair Corr
0.55	DUKH	Ocean Park High	Pair Corr
0.45	TOT	Advisor Managed Port	Pair Corr
0.91	DD	Dupont De Nemours	Pair Corr
0.9	CSCO	Cisco Systems	Pair Corr
0.83	KO	Coca Cola	Pair Corr
0.82	AXP	American Express	Pair Corr
0.74	MRK	Merck Company	Pair Corr
0.7	MMM	3M Company	Pair Corr
0.63	AA	Alcoa Corp	Pair Corr
0.61	TRV	The Travelers Companies	Pair Corr
0.58	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.45	-0.54	0.38	-0.39	0.24	-0.23	-0.42	-0.58	META
MSFT	0.67		0.85	-0.54	0.42	-0.07	-0.02	-0.42	-0.81	-0.64	MSFT
UBER	0.45	0.85		-0.58	0.52	0.09	-0.25	-0.47	-0.85	-0.67	UBER
F	-0.54	-0.54	-0.58		-0.64	0.28	0.34	0.54	0.63	0.77	F
T	0.38	0.42	0.52	-0.64		0.03	-0.63	-0.47	-0.38	-0.58	T
A	-0.39	-0.07	0.09	0.28	0.03		-0.42	-0.34	0.02	0.04	A
CRM	0.24	-0.02	-0.25	0.34	-0.63	-0.42		0.49	0.2	0.3	CRM
JPM	-0.23	-0.42	-0.47	0.54	-0.47	-0.34	0.49		0.57	0.56	JPM
MRK	-0.42	-0.81	-0.85	0.63	-0.38	0.02	0.2	0.57		0.76	MRK
XOM	-0.58	-0.64	-0.67	0.77	-0.58	0.04	0.3	0.56	0.76		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

UBER	+ 0.85	MSFT
XOM	+ 0.77	F
XOM	+ 0.76	MRK
MSFT	+ 0.67	META
MRK	+ 0.63	F
MRK	+ 0.57	JPM

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.81	MSFT
XOM	- 0.67	UBER
T	- 0.64	F
XOM	- 0.64	MSFT
CRM	- 0.63	T

USCF ETF Competition Risk-Adjusted Indicators

There is a big difference between USCF Etf performing well and USCF ETF 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 USCF ETF'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	1.39	(0.22)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.92	(0.17)	0.00	(0.25)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.45	(0.30)	0.00	(0.23)	0.00	0.00	2.60	(3.82)	10.51
F	1.48	0.12	0.08	0.14	1.67	(1.63)	3.38	(2.63)	16.30
T	0.96	(0.21)	0.00	(0.86)	0.00	0.00	1.61	(2.18)	5.75
A	1.17	0.05	0.04	0.10	1.25	(1.28)	2.12	(2.21)	11.03
CRM	1.51	0.06	0.03	0.13	1.97	(1.51)	3.66	(2.92)	9.91
JPM	1.08	(0.02)	0.00	0.04	1.41	(1.11)	2.00	(1.91)	7.02
MRK	1.32	0.33	0.25	0.46	1.03	(1.70)	3.84	(1.98)	11.45
XOM	0.91	0.12	0.08	0.52	0.82	(1.01)	1.96	(1.41)	4.99

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