Correlation Between GraniteShares 15x and AB Active
Can any of the company-specific risk be diversified away by investing in both GraniteShares 15x and AB Active 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 AB Active 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 AB Active ETFs,, you can compare the effects of market volatilities on GraniteShares 15x and AB Active 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 AB Active. Check out your portfolio center. Please also check ongoing floating volatility patterns of GraniteShares 15x and AB Active.
Diversification Opportunities for GraniteShares 15x and AB Active
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GraniteShares and SDFI is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares 15x Long and AB Active ETFs, in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on AB Active ETFs, 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 AB Active. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of AB Active ETFs, has no effect on the direction of GraniteShares 15x i.e., GraniteShares 15x and AB Active go up and down completely randomly.
Pair Corralation between GraniteShares 15x and AB Active
Given the investment horizon of 90 days GraniteShares 15x Long is expected to generate 31.15 times more return on investment than AB Active. However, GraniteShares 15x is 31.15 times more volatile than AB Active ETFs,. It trades about 0.13 of its potential returns per unit of risk. AB Active ETFs, is currently generating about 0.16 per unit of risk. If you would invest 522.00 in GraniteShares 15x Long on September 1, 2024 and sell it today you would earn a total of 6,667 from holding GraniteShares 15x Long or generate 1277.2% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 26.81% |
| Values | Daily Returns |
GraniteShares 15x Long vs. AB Active ETFs,
Performance |
| Timeline |
| GraniteShares 15x Long |
| AB Active ETFs, |
GraniteShares 15x and AB Active Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GraniteShares 15x and AB Active
The main advantage of trading using opposite GraniteShares 15x and AB Active positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GraniteShares 15x position performs unexpectedly, AB Active 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 AB Active will offset losses from the drop in AB Active'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 |
| AB Active vs. Valued Advisers Trust | AB Active vs. Columbia Diversified Fixed | AB Active vs. Principal Exchange Traded Funds | AB Active vs. Doubleline Etf Trust |
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 Risk-Return Analysis module to view associations between returns expected from investment and the risk you assume.
Other Complementary Tools
| Transaction History View history of all your transactions and understand their impact on performance | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data | |
| Price Ceiling Movement Calculate and plot Price Ceiling Movement for different equity instruments | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device | |
| ETFs Find actively traded Exchange Traded Funds (ETF) from around the world |