GraniteShares Correlations
SMCL Etf | 19.62 0.24 1.21% |
The current 90-days correlation between GraniteShares 2x Long and Vanguard Total Stock is -0.01 (i.e., 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
Significant diversification
The correlation between GraniteShares 2x Long and DJI is 0.03 (i.e., Significant 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.
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Moving together with GraniteShares Etf
0.87 | VTI | Vanguard Total Stock | PairCorr |
0.87 | SPY | SPDR SP 500 | PairCorr |
0.87 | IVV | iShares Core SP | PairCorr |
0.86 | VTV | Vanguard Value Index Sell-off Trend | PairCorr |
0.87 | VUG | Vanguard Growth Index | PairCorr |
0.85 | VO | Vanguard Mid Cap | PairCorr |
0.82 | VEA | Vanguard FTSE Developed | PairCorr |
0.84 | VB | Vanguard Small Cap | PairCorr |
0.85 | VWO | Vanguard FTSE Emerging | PairCorr |
0.88 | XOVR | ERShares Private Public Symbol Change | PairCorr |
0.79 | GAICX | GATEWAY INTERNATIONAL | PairCorr |
0.89 | HBTA | Horizon Funds | PairCorr |
0.81 | AAIAX | AMERICAN BEACON INTE | PairCorr |
0.86 | FDV | First Trust Capital | PairCorr |
0.84 | TRSY | Xtrackers 0 1 | PairCorr |
0.84 | BCHP | EGSHARES BLUE CHIP | PairCorr |
0.63 | EUSB | iShares Trust | PairCorr |
0.87 | BUFD | FT Cboe Vest | PairCorr |
0.72 | KGRN | KraneShares MSCI China | PairCorr |
0.82 | VABS | Virtus Newfleet ABSMBS | PairCorr |
0.8 | AXP | American Express | PairCorr |
0.78 | CVX | Chevron Corp | PairCorr |
0.84 | GE | GE Aerospace Earnings Call Today | PairCorr |
0.89 | CAT | Caterpillar | PairCorr |
0.83 | BAC | Bank of America | PairCorr |
0.84 | BA | Boeing Earnings Call This Week | PairCorr |
0.82 | MSFT | Microsoft Aggressive Push | PairCorr |
0.83 | MMM | 3M Company | PairCorr |
0.86 | CSCO | Cisco Systems | PairCorr |
0.68 | INTC | Intel Earnings Call This Week | PairCorr |
0.83 | AA | Alcoa Corp | PairCorr |
0.79 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
Moving against GraniteShares Etf
0.56 | MCD | McDonalds | PairCorr |
0.39 | PG | Procter Gamble Earnings Call This Week | PairCorr |
0.39 | KO | Coca Cola Earnings Call Today | PairCorr |
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
| High negative correlations
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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 | 3.99 | 10.48 | |||
MSFT | 0.89 | 0.31 | 0.27 | 0.48 | 0.52 | 2.33 | 8.85 | |||
UBER | 1.63 | 0.19 | 0.12 | 0.32 | 1.40 | 4.19 | 10.87 | |||
F | 1.29 | 0.20 | 0.10 | 0.41 | 1.39 | 2.69 | 7.46 | |||
T | 1.03 | (0.05) | (0.09) | 0.02 | 1.34 | 2.35 | 5.71 | |||
A | 1.46 | 0.18 | 0.00 | (0.42) | 1.81 | 2.54 | 14.01 | |||
CRM | 1.33 | (0.14) | (0.05) | 0.04 | 1.71 | 2.95 | 9.31 | |||
JPM | 0.90 | 0.35 | 0.18 | (2.74) | 0.67 | 2.25 | 6.03 | |||
MRK | 1.38 | (0.09) | (0.05) | 0.04 | 1.96 | 2.88 | 10.58 | |||
XOM | 1.13 | 0.06 | (0.03) | 0.46 | 1.38 | 2.40 | 6.28 |