GraniteShares Correlations

MRAL Etf

USD 29.70 1.53 4.90%

The current 90-days correlation between GraniteShares 2x Long and Franklin Templeton ETF is 0.28 (i.e., Modest 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

Average diversification

The correlation between GraniteShares 2x Long and DJI is 0.14 (i.e., Average 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

0.71	WSML	iShares MSCI World	Pair Corr
0.69	EVUS	iShares ESG Aware	Pair Corr
0.74	DON	WisdomTree MidCap	Pair Corr
0.69	DUKH	Ocean Park High	Pair Corr
0.72	SCHD	Schwab Dividend Equity	Pair Corr
0.81	MGMT	Ballast SmallMid Cap	Pair Corr
0.69	IOPP	Simplify Exchange Traded	Pair Corr
0.74	FEBU	AllianzIM Equity Buffer15	Pair Corr
0.74	FDVV	Fidelity High Dividend	Pair Corr
0.67	DBB	Invesco DB Base	Pair Corr
0.68	DIVZ	Elevation Series Trust	Pair Corr
0.63	DRSK	Aptus Defined Risk	Pair Corr
0.64	UPV	ProShares Ultra FTSE	Pair Corr
0.74	IFRA	iShares Infrastructure	Pair Corr
0.64	DDWM	WisdomTree Dynamic	Pair Corr
0.69	PQDI	Principal Exchange	Pair Corr
0.71	SHOC	EA Series Trust	Pair Corr
0.81	BTC	Grayscale Bitcoin Mini	Pair Corr
0.73	MDY	SPDR SP MIDCAP	Pair Corr
0.65	QBUF	Innovator Nasdaq 100	Pair Corr
0.71	DIEM	Franklin Templeton ETF	Pair Corr
0.63	AAA	Listed Funds Trust	Pair Corr
0.67	PFUT	Putnam Sustainable Future	Pair Corr

Moving against GraniteShares Etf

0.45

SMI

Van Eck

Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.98	0.84	0.81	0.54	0.92	0.25	0.93	0.23	0.54	META
MSFT	0.98		0.86	0.84	0.5	0.88	0.25	0.95	0.24	0.53	MSFT
UBER	0.84	0.86		0.9	0.4	0.8	0.52	0.88	0.21	0.48	UBER
F	0.81	0.84	0.9		0.39	0.84	0.24	0.91	0.43	0.7	F
T	0.54	0.5	0.4	0.39		0.51	0.15	0.49	0.27	0.21	T
A	0.92	0.88	0.8	0.84	0.51		0.16	0.89	0.33	0.66	A
CRM	0.25	0.25	0.52	0.24	0.15	0.16		0.19	-0.27	-0.14	CRM
JPM	0.93	0.95	0.88	0.91	0.49	0.89	0.19		0.3	0.6	JPM
MRK	0.23	0.24	0.21	0.43	0.27	0.33	-0.27	0.3		0.55	MRK
XOM	0.54	0.53	0.48	0.7	0.21	0.66	-0.14	0.6	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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	+ 0.98	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.91	F
F	+ 0.9	UBER

High negative correlations

MRK	- 0.27	CRM
XOM	- 0.14	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	1.50	0.30	0.24	0.36	1.02	(1.80)	3.99	(2.35)	10.48
MSFT	0.89	0.31	0.27	0.48	0.52	(1.06)	2.33	(1.08)	8.85
UBER	1.63	0.19	0.12	0.32	1.40	(2.06)	4.19	(2.54)	10.87
F	1.29	0.20	0.10	0.41	1.39	(1.42)	2.69	(2.33)	7.46
T	1.03	(0.05)	(0.09)	0.02	1.34	(1.08)	2.35	(2.35)	5.71
A	1.46	0.18	0.00	(0.42)	1.81	(1.51)	2.54	(2.89)	14.01
CRM	1.33	(0.14)	(0.05)	0.04	1.71	(1.31)	2.95	(3.19)	9.31
JPM	0.90	0.35	0.18	(2.74)	0.67	(1.02)	2.25	(1.36)	6.03
MRK	1.38	(0.09)	(0.05)	0.04	1.96	(1.32)	2.88	(3.31)	10.58
XOM	1.13	0.06	(0.03)	0.46	1.38	(1.13)	2.40	(2.58)	6.28

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC