GraniteShares Correlations

Summary

IONL Etf

30.23 6.12 25.38%

The current 90-days correlation between GraniteShares 2x Long and Tidal Trust II is -0.37 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GraniteShares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GraniteShares 2x Long moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

GraniteShares Correlation With Market

Good diversification

The correlation between GraniteShares 2x Long and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares 2x Long and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with GraniteShares Etf

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

Moving together with GraniteShares Etf

0.77	VTI	Vanguard Total Stock	Pair Corr
0.77	SPY	SPDR SP 500	Pair Corr
0.77	IVV	iShares Core SP	Pair Corr
0.73	VTV	Vanguard Value Index	Pair Corr
0.76	VUG	Vanguard Growth Index	Pair Corr
0.75	VO	Vanguard Mid Cap	Pair Corr
0.74	VB	Vanguard Small Cap	Pair Corr
0.65	VWO	Vanguard FTSE Emerging	Pair Corr
0.79	ITDD	iShares Trust	Pair Corr
0.68	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.69	PFE	Pfizer Inc	Pair Corr
0.67	AA	Alcoa Corp Earnings Call This Week	Pair Corr
0.61	MRK	Merck Company	Pair Corr
0.72	MMM	3M Company	Pair Corr
0.72	BAC	Bank of America	Pair Corr
0.65	MSFT	Microsoft	Pair Corr
0.72	CSCO	Cisco Systems	Pair Corr

Moving against GraniteShares Etf

0.58	MYCF	SPDR SSGA My2026	Pair Corr
0.54	ULE	ProShares Ultra Euro	Pair Corr
0.51	IBND	SPDR Bloomberg Inter	Pair Corr
0.56	T	ATT Inc Earnings Call This Week	Pair Corr
0.47	VZ	Verizon Communications	Pair Corr
0.32	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.77	0.27	-0.34	-0.66	0.94	0.91	0.88	0.43	0.17	META
MSFT	0.77		0.56	0.01	-0.5	0.72	0.69	0.82	0.19	0.02	MSFT
UBER	0.27	0.56		0.18	-0.02	0.15	0.22	0.5	-0.13	-0.03	UBER
F	-0.34	0.01	0.18		0.36	-0.26	-0.32	-0.25	0.22	0.34	F
T	-0.66	-0.5	-0.02	0.36		-0.76	-0.69	-0.52	-0.17	0.29	T
A	0.94	0.72	0.15	-0.26	-0.76		0.87	0.82	0.48	0.2	A
CRM	0.91	0.69	0.22	-0.32	-0.69	0.87		0.84	0.41	0.09	CRM
JPM	0.88	0.82	0.5	-0.25	-0.52	0.82	0.84		0.15	0.13	JPM
MRK	0.43	0.19	-0.13	0.22	-0.17	0.48	0.41	0.15		0.48	MRK
XOM	0.17	0.02	-0.03	0.34	0.29	0.2	0.09	0.13	0.48		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

A	+ 0.94	META
CRM	+ 0.91	META
JPM	+ 0.88	META
CRM	+ 0.87	A
JPM	+ 0.84	CRM
JPM	+ 0.82	MSFT

High negative correlations

A	- 0.76	T
CRM	- 0.69	T
T	- 0.66	META
JPM	- 0.52	T
T	- 0.5	MSFT
F	- 0.34	META

GraniteShares Competition Risk-Adjusted Indicators

There is a big difference between GraniteShares Etf performing well and GraniteShares 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 GraniteShares' 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	2.27	0.04	0.00	(0.09)	0.00	0.00	4.00	(4.67)	21.50
MSFT	1.50	0.11	0.05	(0.01)	2.01	(1.50)	3.19	(3.34)	13.79
UBER	2.43	0.39	0.16	(4.69)	2.88	(2.54)	5.87	(4.21)	16.03
F	1.89	0.11	0.09	(0.73)	2.65	(1.92)	3.19	(3.88)	13.11
T	1.17	0.26	0.14	0.56	2.24	(1.15)	1.97	(3.02)	9.07
A	1.65	(0.31)	0.00	(0.38)	0.00	0.00	2.80	(5.45)	14.45
CRM	1.80	(0.32)	0.00	2.94	0.00	0.00	2.91	(4.51)	13.13
JPM	1.58	0.08	0.00	(0.05)	0.00	0.00	2.88	(4.15)	11.14
MRK	1.52	(0.28)	0.00	1.26	0.00	0.00	2.43	(4.81)	9.08
XOM	1.39	0.08	0.00	(0.01)	0.00	0.00	2.80	(3.21)	10.54

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