GraniteShares HIPS Correlations

HIPS Etf

USD 13.16 0.06 0.46%

The current 90-days correlation between GraniteShares HIPS High and Amplify BlackSwan Growth is 0.47 (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

Very weak diversification

The correlation between GraniteShares HIPS High and DJI is 0.58 (i.e., Very weak 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

0.79	NTSX	WisdomTree 9060 Balanced	Pair Corr
0.82	MDIV	First Trust Multi	Pair Corr
0.76	CVY	Invesco Zacks Multi	Pair Corr
0.75	ALTY	Global X Alternative	Pair Corr
0.66	SHLD	Global X Funds	Pair Corr
0.68	WINN	Harbor Long Term	Pair Corr
0.69	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.78	DISO	Tidal Trust II	Pair Corr
0.79	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.71	IVV	iShares Core SP	Pair Corr
0.74	VIS	Vanguard Industrials	Pair Corr
0.76	DSTL	Distillate Fundamental	Pair Corr
0.7	VONG	Vanguard Russell 1000	Pair Corr
0.66	XLE	Energy Select Sector Aggressive Push	Pair Corr
0.67	SCYB	Schwab Strategic Trust	Pair Corr
0.69	OEF	iShares SP 100	Pair Corr
0.66	QQQ	Invesco QQQ Trust Aggressive Push	Pair Corr
0.69	HYG	iShares iBoxx High Sell-off Trend	Pair Corr
0.77	YBIT	Tidal Trust II	Pair Corr
0.7	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.68	MSTY	YieldMax MSTR Option	Pair Corr
0.69	QQQE	Direxion NASDAQ 100	Pair Corr
0.71	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.65	TQQQ	ProShares UltraPro QQQ Aggressive Push	Pair Corr
0.79	DIA	SPDR Dow Jones	Pair Corr
0.81	IWM	iShares Russell 2000 Aggressive Push	Pair Corr
0.62	USFR	WisdomTree Floating Rate	Pair Corr
0.81	DRVN	Driven Brands Holdings	Pair Corr
0.71	LRGC	AB Active ETFs,	Pair Corr
0.72	FDN	First Trust Dow	Pair Corr

Moving against GraniteShares Etf

0.68	FNGD	MicroSectors FANG Index	Pair Corr
0.45	LUX	Tema ETF Trust	Pair Corr

Related Correlations Analysis

	SWAN	RPAR	NTSI	DBMF
SWAN		0.3	0.02	0.3	SWAN
RPAR	0.3		0.89	0.9	RPAR
NTSI	0.02	0.89		0.91	NTSI
DBMF	0.3	0.9	0.91		DBMF
	SWAN	RPAR	NTSI	DBMF

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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
SWAN	0.47	(0.04)	(0.14)	0.05	0.57	(0.50)	1.10	(1.06)	2.69
RPAR	0.50	(0.05)	0.00	(0.24)	0.00	0.00	0.84	(0.87)	3.16
NTSI	0.63	(0.15)	0.00	(0.27)	0.00	0.00	1.66	(1.52)	4.09
DBMF	0.34	(0.07)	0.00	(0.11)	0.00	0.00	0.51	(0.83)	2.11

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