GraniteShares XOUT Correlations
| XOUT Etf | USD 58.38 0.86 1.50% |
The correlation of GraniteShares XOUT 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 XOUT Correlation With Market
Very good diversification
The correlation between GraniteShares XOUT Large and DJI is -0.39 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares XOUT Large and DJI in the same portfolio, assuming nothing else is changed.
GraniteShares | Build AI portfolio with GraniteShares Etf |
Moving together with GraniteShares Etf
| 0.89 | CIBR | First Trust NASDAQ | PairCorr |
| 0.92 | IGV | iShares Expanded Tech | PairCorr |
| 0.89 | FDN | First Trust Dow Potential Growth | PairCorr |
| 0.61 | BULZ | MicroSectors Solactive | PairCorr |
| 0.82 | FNGO | MicroSectors FANG Index | PairCorr |
| 0.71 | GBTC | Grayscale Bitcoin Trust | PairCorr |
Moving against GraniteShares Etf
| 0.73 | RDIV | Invesco SP Ultra | PairCorr |
| 0.5 | SOXX | iShares Semiconductor ETF | PairCorr |
| 0.48 | SMH | VanEck Semiconductor ETF | PairCorr |
| 0.47 | NUGT | Direxion Daily Gold | PairCorr |
| 0.45 | JNUG | Direxion Daily Junior | PairCorr |
| 0.41 | GGLL | Direxion Daily GOOGL | PairCorr |
| 0.85 | KO | Coca Cola Earnings Call This Week | PairCorr |
| 0.84 | XOM | Exxon Mobil Corp Aggressive Push | PairCorr |
| 0.81 | CVX | Chevron Corp Sell-off Trend | PairCorr |
| 0.76 | JNJ | Johnson Johnson Sell-off Trend | PairCorr |
| 0.76 | VZ | Verizon Communications Aggressive Push | PairCorr |
| 0.68 | PFE | Pfizer Inc Aggressive Push | PairCorr |
| 0.64 | DD | Dupont De Nemours | PairCorr |
| 0.61 | INTC | Intel | PairCorr |
| 0.56 | BINC | BlackRock ETF Trust | PairCorr |
| 0.54 | T | ATT Inc Aggressive Push | PairCorr |
| 0.54 | CSCO | Cisco Systems Earnings Call Today | PairCorr |
| 0.54 | MCD | McDonalds Earnings Call Tomorrow | PairCorr |
| 0.5 | HD | Home Depot | PairCorr |
| 0.49 | BA | Boeing | PairCorr |
| 0.46 | AHYB | American Century ETF | PairCorr |
Related Correlations Analysis
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
| High negative correlations
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GraniteShares XOUT Constituents Risk-Adjusted Indicators
There is a big difference between GraniteShares Etf performing well and GraniteShares XOUT 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 XOUT'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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| FSMO | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| FNI | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| GGME | 0.86 | (0.32) | 0.00 | (0.31) | 0.00 | 1.44 | 5.08 | |||
| PDEV | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| MJUS | 3.08 | (1.08) | 0.00 | (0.78) | 0.00 | 5.71 | 30.14 | |||
| VALT | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| NFO | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| IBCD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| TDSD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| RESP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |