Correlation Between VanEck Smart and VanEck Vectors
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By analyzing existing cross correlation between VanEck Smart Contract and VanEck Vectors UCITS, you can compare the effects of market volatilities on VanEck Smart and VanEck Vectors 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 VanEck Smart with a short position of VanEck Vectors. Check out your portfolio center. Please also check ongoing floating volatility patterns of VanEck Smart and VanEck Vectors.
Diversification Opportunities for VanEck Smart and VanEck Vectors
0.82 | Correlation Coefficient |
Very poor diversification
The 3 months correlation between VanEck and VanEck is 0.82. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Smart Contract and VanEck Vectors UCITS in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on VanEck Vectors UCITS and VanEck Smart 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 VanEck Smart Contract are associated (or correlated) with VanEck Vectors. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VanEck Vectors UCITS has no effect on the direction of VanEck Smart i.e., VanEck Smart and VanEck Vectors go up and down completely randomly.
Pair Corralation between VanEck Smart and VanEck Vectors
Assuming the 90 days trading horizon VanEck Smart Contract is expected to generate 7.66 times more return on investment than VanEck Vectors. However, VanEck Smart is 7.66 times more volatile than VanEck Vectors UCITS. It trades about 0.18 of its potential returns per unit of risk. VanEck Vectors UCITS is currently generating about 0.07 per unit of risk. If you would invest 1,129 in VanEck Smart Contract on October 25, 2024 and sell it today you would earn a total of 133.00 from holding VanEck Smart Contract or generate 11.78% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
VanEck Smart Contract vs. VanEck Vectors UCITS
Performance |
| Timeline |
| VanEck Smart Contract |
| VanEck Vectors UCITS |
VanEck Smart and VanEck Vectors Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VanEck Smart and VanEck Vectors
The main advantage of trading using opposite VanEck Smart and VanEck Vectors positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VanEck Smart position performs unexpectedly, VanEck Vectors 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 VanEck Vectors will offset losses from the drop in VanEck Vectors' long position.| VanEck Smart vs. UBS Fund Solutions | VanEck Smart vs. Xtrackers II | VanEck Smart vs. Xtrackers Nikkei 225 | VanEck Smart vs. iShares VII PLC |
| VanEck Vectors vs. VanEck Sustainable European | VanEck Vectors vs. VanEck Solana ETN | VanEck Vectors vs. VanEck Smart Contract | VanEck Vectors vs. VanEck Vectors Morningstar |
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.
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