GraniteShares 175x Correlations

BABX Etf

36.73 2.45 6.25%

The current 90-days correlation between GraniteShares 175x Long and GraniteShares 15x Long is 0.17 (i.e., Average diversification). The correlation of GraniteShares 175x is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

GraniteShares 175x Correlation With Market

Good diversification

The correlation between GraniteShares 175x 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 175x Long and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in GraniteShares 175x 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 bureau of labor statistics.

Moving together with GraniteShares Etf

0.86	SHNY	Microsectors Gold	Pair Corr
0.72	GDXU	MicroSectors Gold Miners	Pair Corr
0.86	CSCO	Cisco Systems	Pair Corr
0.61	WMT	Walmart Aggressive Push	Pair Corr
0.95	KO	Coca Cola	Pair Corr
0.73	GE	GE Aerospace	Pair Corr
0.95	T	ATT Inc Aggressive Push	Pair Corr
0.85	IBM	International Business Sell-off Trend	Pair Corr
0.69	JNJ	Johnson Johnson	Pair Corr

Moving against GraniteShares Etf

0.63	MSTY	YieldMax MSTR Option	Pair Corr
0.52	NVDL	GraniteShares 15x Long Buyout Trend	Pair Corr
0.51	NVDU	Direxion Daily NVDA Buyout Trend	Pair Corr
0.4	LABU	Direxion Daily SP	Pair Corr
0.34	TECL	Direxion Daily Technology	Pair Corr
0.57	MSFT	Microsoft	Pair Corr
0.46	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.56	0.7	-0.3	0.7	0.19	-0.18	0.9	-0.84	0.09	META
MSFT	-0.56		-0.61	0.2	-0.52	0.29	0.63	-0.54	0.66	-0.04	MSFT
UBER	0.7	-0.61		-0.2	0.75	-0.16	-0.53	0.73	-0.77	0.52	UBER
F	-0.3	0.2	-0.2		-0.38	-0.07	0.44	-0.21	0.41	0.47	F
T	0.7	-0.52	0.75	-0.38		-0.2	-0.42	0.59	-0.71	0.23	T
A	0.19	0.29	-0.16	-0.07	-0.2		0.24	0.38	0.11	0.06	A
CRM	-0.18	0.63	-0.53	0.44	-0.42	0.24		-0.3	0.44	-0.14	CRM
JPM	0.9	-0.54	0.73	-0.21	0.59	0.38	-0.3		-0.8	0.17	JPM
MRK	-0.84	0.66	-0.77	0.41	-0.71	0.11	0.44	-0.8		-0.06	MRK
XOM	0.09	-0.04	0.52	0.47	0.23	0.06	-0.14	0.17	-0.06		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

JPM	+ 0.9	META
T	+ 0.75	UBER
JPM	+ 0.73	UBER
UBER	+ 0.7	META
T	+ 0.7	META
MRK	+ 0.66	MSFT

High negative correlations

MRK	- 0.84	META
MRK	- 0.8	JPM
MRK	- 0.77	UBER
MRK	- 0.71	T
UBER	- 0.61	MSFT
MSFT	- 0.56	META

GraniteShares 175x Competition Risk-Adjusted Indicators

There is a big difference between GraniteShares Etf performing well and GraniteShares 175x 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 175x's 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	1.36	0.22	0.13	0.24	1.51	(1.39)	2.49	(2.29)	7.11
MSFT	1.00	(0.11)	0.00	(0.17)	0.00	0.00	1.44	(1.90)	10.31
UBER	1.95	0.16	0.06	3.78	2.78	(1.95)	4.72	(3.13)	12.29
F	1.35	(0.11)	0.00	(0.13)	0.00	0.00	2.55	(2.89)	10.97
T	0.94	0.30	0.27	0.50	0.88	(1.12)	1.90	(1.75)	7.94
A	1.05	(0.13)	0.00	(0.34)	0.00	0.00	2.43	(2.16)	9.03
CRM	1.45	(0.15)	0.00	(0.22)	0.00	0.00	2.21	(3.81)	15.92
JPM	0.90	0.14	0.11	0.20	1.19	(0.96)	1.97	(1.51)	6.85
MRK	1.25	(0.13)	0.00	0.54	0.00	0.00	2.15	(2.24)	11.57
XOM	0.92	(0.09)	0.00	0.26	0.00	0.00	1.76	(2.14)	5.69

Trending Assets

GGLL

Direxion Daily GOOGL

35.63 0.70 2.00

CONL

GraniteShares ETF Trust

23.99 1.52 6.76

FBL

GraniteShares 15x Long

41.80 1.15 2.83

NVDL

GraniteShares 15x Long

51.44 3.68 7.71

AMZU

Direxion Daily AMZN

38.18 1.17 3.16

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