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.
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

  0.65MAPP Harbor ETF TrustPairCorr
  0.71PRME Prime Medicine, CommonPairCorr
  0.8SNPD DBX ETF TrustPairCorr
  0.68EVUS iShares ESG AwarePairCorr
  0.71USD ProShares Ultra SemiPairCorr
  0.72RISN Inspire Tactical BalancedPairCorr
  0.62HYG iShares iBoxx HighPairCorr
  0.71UFO Procure Space ETFPairCorr
  0.7IWB iShares Russell 1000PairCorr
  0.63BILS SPDR Series TrustPairCorr
  0.69XYLG Global X SPPairCorr
  0.81BTFD Valkyrie Bitcoin StrategyPairCorr
  0.66NOCT Innovator Growth 100PairCorr
  0.67EMC Global X FundsPairCorr
  0.7SUPP TCW Transform SupplyPairCorr
  0.62DFAX Dimensional WorldPairCorr
  0.65EGGY Tidal Trust IIIPairCorr
  0.7ISPY ProShares SP 500PairCorr
  0.86YETH Roundhill Ether CoveredPairCorr
  0.61IXUS iShares Core MSCIPairCorr
  0.73OPTZ Optimize Strategy IndexPairCorr
  0.65SLVO Credit Suisse XPairCorr
  0.63WOOD iShares Global TimberPairCorr
  0.73NBCE Neuberger Berman ETFPairCorr

Moving against GraniteShares Etf

  0.8WNTR Tidal Trust IIPairCorr

Related Correlations Analysis

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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   
MSFTMETA
JPMMSFT
JPMMETA
AMETA
JPMF
FUBER
  
High negative correlations   
MRKCRM
XOMCRM

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.47  0.27  0.25  0.41  0.82 
 3.99 
 10.48 
MSFT  0.84  0.33  0.36  0.63  0.00 
 2.33 
 8.85 
UBER  1.60  0.05  0.05  0.25  1.44 
 4.19 
 10.87 
F  1.29  0.10  0.04  0.33  1.40 
 2.69 
 7.46 
T  1.00 (0.02)(0.12) 0.14  1.30 
 2.35 
 5.71 
A  1.53 (0.10) 0.02  0.14  1.77 
 2.82 
 14.01 
CRM  1.30 (0.17)(0.04) 0.09  1.64 
 2.95 
 9.31 
JPM  0.88  0.19  0.16  0.40  0.54 
 2.25 
 6.03 
MRK  1.40 (0.08)(0.04) 0.13  1.82 
 2.90 
 10.58 
XOM  1.10 (0.01)(0.10) 0.16  1.39 
 2.18 
 6.28