GraniteShares Correlations

MRAL Etf

USD 23.50 7.12 23.25%

The current 90-days correlation between GraniteShares 2x Long and Tidal Trust II is 0.01 (i.e., Significant 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

Modest diversification

The correlation between GraniteShares 2x Long and DJI is 0.21 (i.e., Modest 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 Correlation 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 nation.

Moving together with GraniteShares Etf

0.65	MAPP	Harbor ETF Trust	Pair Corr
0.71	PRME	Prime Medicine, Common	Pair Corr
0.8	SNPD	DBX ETF Trust	Pair Corr
0.68	EVUS	iShares ESG Aware	Pair Corr
0.71	USD	ProShares Ultra Semi	Pair Corr
0.72	RISN	Inspire Tactical Balanced	Pair Corr
0.62	HYG	iShares iBoxx High	Pair Corr
0.71	UFO	Procure Space ETF	Pair Corr
0.7	IWB	iShares Russell 1000	Pair Corr
0.63	BILS	SPDR Series Trust	Pair Corr
0.69	XYLG	Global X SP	Pair Corr
0.81	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.66	NOCT	Innovator Growth 100	Pair Corr
0.67	EMC	Global X Funds	Pair Corr
0.7	SUPP	TCW Transform Supply	Pair Corr
0.62	DFAX	Dimensional World	Pair Corr
0.65	EGGY	Tidal Trust III	Pair Corr
0.7	ISPY	ProShares SP 500	Pair Corr
0.86	YETH	Roundhill Ether Covered	Pair Corr
0.61	IXUS	iShares Core MSCI	Pair Corr
0.73	OPTZ	Optimize Strategy Index	Pair Corr
0.65	SLVO	Credit Suisse X	Pair Corr
0.63	WOOD	iShares Global Timber	Pair Corr
0.73	NBCE	Neuberger Berman ETF	Pair Corr

Moving against GraniteShares Etf

0.8

WNTR

Tidal Trust II

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.82	0.79	0.56	0.92	0.17	0.93	0.21	0.51	META
MSFT	0.97		0.84	0.83	0.51	0.86	0.17	0.95	0.23	0.5	MSFT
UBER	0.82	0.84		0.88	0.41	0.78	0.46	0.85	0.18	0.44	UBER
F	0.79	0.83	0.88		0.42	0.8	0.16	0.89	0.43	0.68	F
T	0.56	0.51	0.41	0.42		0.63	0.11	0.46	0.35	0.27	T
A	0.92	0.86	0.78	0.8	0.63		0.15	0.86	0.36	0.63	A
CRM	0.17	0.17	0.46	0.16	0.11	0.15		0.09	-0.33	-0.21	CRM
JPM	0.93	0.95	0.85	0.89	0.46	0.86	0.09		0.32	0.59	JPM
MRK	0.21	0.23	0.18	0.43	0.35	0.36	-0.33	0.32		0.54	MRK
XOM	0.51	0.5	0.44	0.68	0.27	0.63	-0.21	0.59	0.54		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

MSFT	+ 0.97	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.89	F
F	+ 0.88	UBER

High negative correlations

MRK	- 0.33	CRM
XOM	- 0.21	CRM

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	1.47	0.27	0.25	0.41	0.82	(1.79)	3.99	(2.00)	10.48
MSFT	0.84	0.33	0.36	0.63	0.00	(1.04)	2.33	(1.03)	8.85
UBER	1.60	0.05	0.05	0.25	1.44	(1.99)	4.19	(2.54)	10.87
F	1.29	0.10	0.04	0.33	1.40	(1.40)	2.69	(2.33)	7.46
T	1.00	(0.02)	(0.12)	0.14	1.30	(1.05)	2.35	(2.35)	5.71
A	1.53	(0.10)	0.02	0.14	1.77	(1.61)	2.82	(2.89)	14.01
CRM	1.30	(0.17)	(0.04)	0.09	1.64	(1.29)	2.95	(3.19)	9.31
JPM	0.88	0.19	0.16	0.40	0.54	(1.01)	2.25	(1.31)	6.03
MRK	1.40	(0.08)	(0.04)	0.13	1.82	(1.38)	2.90	(3.31)	10.58
XOM	1.10	(0.01)	(0.10)	0.16	1.39	(1.07)	2.18	(2.58)	6.28

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