GraniteShares Correlations

UBRL Etf

19.82 0.76 3.69%

The current 90-days correlation between GraniteShares 2x Long and Tidal Trust II is -0.1 (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.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in GraniteShares 2x 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 metropolitan statistical area.

Moving together with GraniteShares Etf

0.79	NRGU	Bank Of Montreal	Pair Corr
0.7	LABU	Direxion Daily SP	Pair Corr
0.74	IRET	iREIT MarketVector	Pair Corr

Moving against GraniteShares Etf

0.89	FNGU	MicroSectors FANG Index	Pair Corr
0.87	ARKW	ARK Next Generation	Pair Corr
0.74	QLD	ProShares Ultra QQQ	Pair Corr
0.56	WTMF	WisdomTree Managed	Pair Corr
0.56	BST	BlackRock Science Tech	Pair Corr
0.43	IAUF	IShares	Pair Corr
0.4	SSO	ProShares Ultra SP500	Pair Corr
0.34	SPXL	Direxion Daily SP500	Pair Corr
0.34	UPRO	ProShares UltraPro SP500	Pair Corr
0.94	TSL	GraniteShares 125x Long	Pair Corr
0.9	OLO	Olo Inc	Pair Corr
0.88	MINT	PIMCO Enhanced Short	Pair Corr
0.87	TFLO	iShares Treasury Floating	Pair Corr
0.87	BRLN	Blackrock ETF Trust	Pair Corr
0.86	HAPR	Innovator Premium Income	Pair Corr
0.82	SPYG	SPDR Portfolio SP	Pair Corr
0.8	FTLS	First Trust LongShort	Pair Corr
0.77	XCCC	BondBloxx ETF Trust	Pair Corr
0.77	ETH	Grayscale Ethereum Mini Buyout Trend	Pair Corr
0.67	AUGP	PGIM Large Cap	Pair Corr
0.6	DAPP	VanEck Digital Trans	Pair Corr
0.57	IVES	Amplify ETF Trust Symbol Change	Pair Corr
0.54	UMI	USCF Midstream Energy	Pair Corr
0.54	IYG	iShares Financial	Pair Corr
0.33	GSG	iShares SP GSCI	Pair Corr
0.93	TSLY	Tidal Trust II	Pair Corr
0.92	YMAG	YieldMax Magnificent	Pair Corr
0.91	FNGS	MicroSectors FANG ETN	Pair Corr
0.88	SEIX	Virtus ETF Trust	Pair Corr
0.87	JAAA	Janus Detroit Street	Pair Corr
0.85	BTC	Grayscale Bitcoin Mini	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.73	-0.57	-0.59	0.32	0.57	0.53	0.34	-0.06	-0.67	META
MSFT	0.73		-0.53	-0.24	0.56	0.23	0.65	0.25	-0.1	-0.47	MSFT
UBER	-0.57	-0.53		0.64	-0.58	-0.08	-0.78	-0.56	0.67	0.81	UBER
F	-0.59	-0.24	0.64		0.01	-0.25	-0.2	-0.07	0.2	0.9	F
T	0.32	0.56	-0.58	0.01		0.0	0.8	0.59	-0.45	-0.23	T
A	0.57	0.23	-0.08	-0.25	0.0		0.12	0.22	0.32	-0.19	A
CRM	0.53	0.65	-0.78	-0.2	0.8	0.12		0.7	-0.59	-0.44	CRM
JPM	0.34	0.25	-0.56	-0.07	0.59	0.22	0.7		-0.62	-0.25	JPM
MRK	-0.06	-0.1	0.67	0.2	-0.45	0.32	-0.59	-0.62		0.32	MRK
XOM	-0.67	-0.47	0.81	0.9	-0.23	-0.19	-0.44	-0.25	0.32		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

XOM	+ 0.9	F
XOM	+ 0.81	UBER
CRM	+ 0.8	T
MSFT	+ 0.73	META
JPM	+ 0.7	CRM
MRK	+ 0.67	UBER

High negative correlations

CRM	- 0.78	UBER
XOM	- 0.67	META
MRK	- 0.62	JPM
MRK	- 0.59	CRM
F	- 0.59	META
T	- 0.58	UBER

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	1.36	0.06	0.03	0.21	1.51	(1.56)	3.43	(3.15)	7.43
MSFT	0.92	0.04	0.01	1.07	1.58	(0.87)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(26.89)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.08)	0.00	(0.17)	0.00	0.00	2.38	(2.81)	11.21
T	0.97	0.08	0.06	0.24	1.10	(1.04)	1.91	(1.84)	7.96
A	1.21	0.03	0.01	0.09	1.45	(1.33)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.10	0.79	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.03	0.25	0.17	1.11	1.11	(1.17)	1.92	(1.42)	15.87
MRK	1.00	(0.17)	0.00	(0.68)	0.00	0.00	1.74	(2.17)	5.17
XOM	0.76	(0.15)	0.00	(0.37)	0.00	0.00	1.71	(1.67)	6.06

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GraniteShares Correlations

Moving together with GraniteShares Etf

Moving against GraniteShares Etf

Related Correlations Analysis

Correlation Matchups

GraniteShares Competition Risk-Adjusted Indicators

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