Strategy Shares Correlations

HNDL Etf

USD 21.29 0.19 0.90%

The current 90-days correlation between Strategy Shares Nasdaq and Cabana Target Leading is 0.75 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Strategy Shares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Strategy Shares Nasdaq moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Strategy Shares Correlation With Market

Poor diversification

The correlation between Strategy Shares Nasdaq and DJI is 0.72 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Strategy Shares Nasdaq and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with Strategy Etf

0.99	AOM	iShares Core Moderate	Pair Corr
0.91	RPAR	RPAR Risk Parity	Pair Corr
0.99	AOK	iShares Core Conservative	Pair Corr
0.98	RPHS	Regents Park Hedged	Pair Corr
0.98	DSCF	Discipline Fund ETF	Pair Corr
0.83	TWIO	Spinnaker ETF Series	Pair Corr
0.99	EAOK	iShares ESG Aware	Pair Corr
0.99	EAOM	iShares ESG Aware	Pair Corr
0.8	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.82	SIXD	AIM ETF Products	Pair Corr
0.97	CEFD	ETRACS Monthly Pay	Pair Corr
0.91	TSJA	TSJA	Pair Corr
0.92	DSJA	DSJA	Pair Corr
0.78	KO	Coca Cola Aggressive Push	Pair Corr
0.89	T	ATT Inc Earnings Call This Week	Pair Corr
0.66	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.85	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.78	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.66	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.71	IBM	International Business Sell-off Trend	Pair Corr
0.7	MMM	3M Company Trending	Pair Corr
0.91	WMT	Walmart Sell-off Trend	Pair Corr
0.69	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.9	BAC	Bank of America Sell-off Trend	Pair Corr

Moving against Strategy Etf

0.92	VIIX	VIIX	Pair Corr
0.82	CYB	CYB	Pair Corr
0.57	YCL	ProShares Ultra Yen	Pair Corr
0.52	FXY	Invesco CurrencyShares	Pair Corr
0.84	DIS	Walt Disney Financial Report 14th of August 2024	Pair Corr
0.67	MCD	McDonalds Earnings Call This Week	Pair Corr
0.37	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr

Related Correlations Analysis

	CLSM	TDSC	BUFD	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX
CLSM		0.93	0.96	0.0	0.81	0.87	0.92	-0.33	0.04	0.94	CLSM
TDSC	0.93		0.89	0.0	0.94	0.85	0.83	-0.1	0.06	0.93	TDSC
BUFD	0.96	0.89		0.0	0.76	0.9	0.92	-0.31	0.14	0.95	BUFD
AQUI	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	AQUI
MSTSX	0.81	0.94	0.76	0.0		0.8	0.75	0.03	-0.07	0.85	MSTSX
LBHIX	0.87	0.85	0.9	0.0	0.8		0.95	-0.15	-0.04	0.92	LBHIX
ABHYX	0.92	0.83	0.92	0.0	0.75	0.95		-0.27	0.0	0.91	ABHYX
SCAXF	-0.33	-0.1	-0.31	0.0	0.03	-0.15	-0.27		0.14	-0.18	SCAXF
VIASP	0.04	0.06	0.14	0.0	-0.07	-0.04	0.0	0.14		0.07	VIASP
RRTLX	0.94	0.93	0.95	0.0	0.85	0.92	0.91	-0.18	0.07		RRTLX
	CLSM	TDSC	BUFD	AQUI	MSTSX	LBHIX	ABHYX	SCAXF	VIASP	RRTLX

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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

BUFD	+ 0.96	CLSM
RRTLX	+ 0.95	BUFD
ABHYX	+ 0.95	LBHIX
RRTLX	+ 0.94	CLSM
MSTSX	+ 0.94	TDSC
TDSC	+ 0.93	CLSM

High negative correlations

SCAXF	- 0.33	CLSM
SCAXF	- 0.31	BUFD
SCAXF	- 0.27	ABHYX
RRTLX	- 0.18	SCAXF
SCAXF	- 0.15	LBHIX
SCAXF	- 0.1	TDSC

Strategy Shares Constituents Risk-Adjusted Indicators

There is a big difference between Strategy Etf performing well and Strategy Shares 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 Strategy Shares' 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
CLSM	0.39	0.02	(0.02)	0.10	0.44	(0.41)	0.79	(0.71)	2.49
TDSC	0.38	0.01	(0.04)	0.09	0.40	(0.43)	0.73	(0.78)	2.03
BUFD	0.20	0.03	(0.09)	0.19	0.06	(0.22)	0.46	(0.33)	1.54
AQUI	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
MSTSX	0.47	0.02	(0.01)	0.10	0.53	(0.52)	0.90	(0.98)	2.68
LBHIX	0.17	0.04	(0.11)	0.47	0.00	(0.33)	0.48	(0.24)	0.98
ABHYX	0.17	0.04	(0.12)	0.52	0.00	(0.24)	0.45	(0.34)	0.92
SCAXF	4.43	2.19	0.00	(0.26)	0.00	0.00	0.00	0.00	182.60
VIASP	1.66	0.03	(0.01)	0.15	2.93	(1.47)	4.33	(4.97)	16.82
RRTLX	0.26	0.04	(0.07)	0.54	0.19	(0.33)	0.59	(0.50)	1.48

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