GraniteShares HIPS Correlations

HIPS Etf

USD 13.09 0.02 0.15%

The current 90-days correlation between GraniteShares HIPS High and Amplify High Income is 0.55 (i.e., Very weak diversification). The correlation of GraniteShares HIPS 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 HIPS Correlation With Market

Modest diversification

The correlation between GraniteShares HIPS High and DJI is 0.29 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares HIPS High and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GraniteShares HIPS High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with GraniteShares Etf

0.86	ALTY	Global X Alternative	Pair Corr
0.86	VTI	Vanguard Total Stock	Pair Corr
0.85	SPY	SPDR SP 500	Pair Corr
0.85	IVV	iShares Core SP	Pair Corr
0.64	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.64	VUG	Vanguard Growth Index	Pair Corr
0.78	VO	Vanguard Mid Cap	Pair Corr
0.74	VB	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	YYY	ALTY	CEFS	GYLD	HNDL
YYY		0.84	0.78	0.83	0.92	YYY
ALTY	0.84		0.88	0.52	0.75	ALTY
CEFS	0.78	0.88		0.41	0.66	CEFS
GYLD	0.83	0.52	0.41		0.82	GYLD
HNDL	0.92	0.75	0.66	0.82		HNDL
	YYY	ALTY	CEFS	GYLD	HNDL

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GraniteShares HIPS Constituents Risk-Adjusted Indicators

There is a big difference between GraniteShares Etf performing well and GraniteShares HIPS 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 HIPS'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
YYY	0.45	0.02	(0.06)	0.15	0.57	(0.47)	0.94	(0.87)	2.92
ALTY	0.40	0.02	(0.08)	0.18	0.38	(0.46)	0.88	(0.67)	2.26
CEFS	0.55	0.07	(0.01)	0.45	0.60	(0.61)	1.22	(1.20)	3.38
GYLD	0.43	(0.01)	(0.13)	(0.01)	0.61	(0.46)	0.81	(1.02)	2.78
HNDL	0.45	0.01	(0.08)	0.10	0.57	(0.49)	0.91	(0.78)	3.21

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GraniteShares HIPS Correlations

GraniteShares HIPS Correlation With Market

Modest diversification

Moving together with GraniteShares Etf

Related Correlations Analysis

GraniteShares HIPS Constituents Risk-Adjusted Indicators

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