Correlation Between GraniteShares 15x and Natixis ETF
Can any of the company-specific risk be diversified away by investing in both GraniteShares 15x and Natixis ETF at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining GraniteShares 15x and Natixis ETF into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GraniteShares 15x Long and Natixis ETF Trust, you can compare the effects of market volatilities on GraniteShares 15x and Natixis ETF and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in GraniteShares 15x with a short position of Natixis ETF. Check out your portfolio center. Please also check ongoing floating volatility patterns of GraniteShares 15x and Natixis ETF.
Diversification Opportunities for GraniteShares 15x and Natixis ETF
0.88 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between GraniteShares and Natixis is 0.88. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares 15x Long and Natixis ETF Trust in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Natixis ETF Trust and GraniteShares 15x is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on GraniteShares 15x Long are associated (or correlated) with Natixis ETF. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Natixis ETF Trust has no effect on the direction of GraniteShares 15x i.e., GraniteShares 15x and Natixis ETF go up and down completely randomly.
Pair Corralation between GraniteShares 15x and Natixis ETF
Given the investment horizon of 90 days GraniteShares 15x is expected to generate 3.88 times less return on investment than Natixis ETF. But when comparing it to its historical volatility, GraniteShares 15x Long is 9.27 times less risky than Natixis ETF. It trades about 0.13 of its potential returns per unit of risk. Natixis ETF Trust is currently generating about 0.06 of returns per unit of risk over similar time horizon. If you would invest 0.00 in Natixis ETF Trust on September 3, 2024 and sell it today you would earn a total of 3,849 from holding Natixis ETF Trust or generate 9.223372036854776E16% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 72.93% |
| Values | Daily Returns |
GraniteShares 15x Long vs. Natixis ETF Trust
Performance |
| Timeline |
| GraniteShares 15x Long |
| Natixis ETF Trust |
GraniteShares 15x and Natixis ETF Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GraniteShares 15x and Natixis ETF
The main advantage of trading using opposite GraniteShares 15x and Natixis ETF positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GraniteShares 15x position performs unexpectedly, Natixis ETF can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Natixis ETF will offset losses from the drop in Natixis ETF's long position.| GraniteShares 15x vs. Direxion Daily MSFT | GraniteShares 15x vs. Direxion Daily GOOGL | GraniteShares 15x vs. AXS 125X NVDA | GraniteShares 15x vs. Direxion Shares ETF |
| Natixis ETF vs. FT Vest Equity | Natixis ETF vs. Northern Lights | Natixis ETF vs. Dimensional International High | Natixis ETF vs. JPMorgan Fundamental Data |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Economic Indicators module to top statistical indicators that provide insights into how an economy is performing.
Other Complementary Tools
| Aroon Oscillator Analyze current equity momentum using Aroon Oscillator and other momentum ratios | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Cryptocurrency Center Build and monitor diversified portfolio of extremely risky digital assets and cryptocurrency | |
| Financial Widgets Easily integrated Macroaxis content with over 30 different plug-and-play financial widgets |