GraniteShares FATANG Correlations

FTNE Etf

47.33 0.09 0.19%

The current 90-days correlation between GraniteShares FATANG ETC and Leverage Shares 3x is 0.3 (i.e., Weak diversification). The correlation of GraniteShares FATANG 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 FATANG Correlation With Market

Weak diversification

The correlation between GraniteShares FATANG ETC and DJI is 0.38 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares FATANG ETC and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to GraniteShares FATANG could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GraniteShares FATANG when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GraniteShares FATANG - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GraniteShares FATANG ETC to buy it.

Moving together with GraniteShares Etf

0.95	3PLT	Leverage Shares 3x	Pair Corr
0.91	3PYE	Leverage Shares 3x	Pair Corr
0.98	FANE	GraniteShares FAANG ETC	Pair Corr
0.87	INFU	Lyxor 10Y Inflation	Pair Corr
0.96	3FNE	GraniteShares 3x Long	Pair Corr
0.81	NVD2	Leverage Shares 2x	Pair Corr
0.92	SMT	Scottish Mortgage	Pair Corr

Moving against GraniteShares Etf

0.89	3SPE	GraniteShares 3x Short	Pair Corr
0.79	3ULS	WisdomTree SP 500	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.58	-0.01	0.64	0.02	0.73	0.31	-0.58	0.74	META
MSFT	0.27		0.22	0.12	0.18	-0.03	0.04	-0.16	0.1	-0.18	MSFT
UBER	0.58	0.22		0.0	0.09	0.23	0.12	-0.03	-0.01	0.42	UBER
F	-0.01	0.12	0.0		-0.03	-0.36	0.33	0.61	-0.22	0.27	F
T	0.64	0.18	0.09	-0.03		-0.44	0.7	0.43	-0.73	0.38	T
A	0.02	-0.03	0.23	-0.36	-0.44		-0.45	-0.64	0.62	0.02	A
CRM	0.73	0.04	0.12	0.33	0.7	-0.45		0.8	-0.92	0.67	CRM
JPM	0.31	-0.16	-0.03	0.61	0.43	-0.64	0.8		-0.82	0.48	JPM
MRK	-0.58	0.1	-0.01	-0.22	-0.73	0.62	-0.92	-0.82		-0.55	MRK
XOM	0.74	-0.18	0.42	0.27	0.38	0.02	0.67	0.48	-0.55		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	+ 0.8	CRM
XOM	+ 0.74	META
CRM	+ 0.73	META
CRM	+ 0.7	T
XOM	+ 0.67	CRM
T	+ 0.64	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.82	JPM
MRK	- 0.73	T
JPM	- 0.64	A
MRK	- 0.58	META
XOM	- 0.55	MRK

GraniteShares FATANG Competition Risk-Adjusted Indicators

There is a big difference between GraniteShares Etf performing well and GraniteShares FATANG 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 FATANG'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	1.07	0.05	0.02	0.16	1.41	(1.15)	2.62	(3.15)	8.02
MSFT	0.89	(0.10)	0.00	(0.05)	0.00	0.00	2.08	(2.03)	8.19
UBER	1.56	(0.15)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
F	1.40	(0.09)	(0.02)	0.02	2.20	(1.37)	2.53	(2.90)	11.72
T	0.91	0.26	0.16	(47.59)	0.84	(1.03)	2.56	(1.72)	6.47
A	1.09	(0.16)	0.00	(0.27)	0.00	0.00	2.11	(2.42)	9.02
CRM	1.25	0.24	0.20	0.30	0.94	(1.47)	3.18	(1.91)	9.09
JPM	1.09	0.03	0.06	0.10	1.43	(1.11)	2.05	(2.00)	15.87
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
XOM	1.03	0.04	0.00	0.15	1.22	(1.09)	2.14	(2.09)	5.78

Be your own money manager

Our tools can tell you how much better you can do entering a position in GraniteShares FATANG without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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