Glcn Etf Market Value
| GLCN Etf | USD 23.07 0.09 0.39% |
| Symbol | GLCN |
Search Suggestions
| GL | Globe Life | Company |
| GL-PD | Globe Life 425 | Company |
| GLO | Clough Global Opportunities | Fund |
| GLD | SPDR Gold Shares | ETF |
| GLM | Golem Network Token | Cryptocurrency |
Pair Trading with GLCN
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if GLCN position performs unexpectedly, the other equity 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 GLCN will appreciate offsetting losses from the drop in the long position's value.Moving against GLCN Etf
| 0.8 | CQQQ | Invesco China Technology | PairCorr |
| 0.74 | FXI | iShares China Large | PairCorr |
| 0.74 | CXSE | WisdomTree China | PairCorr |
| 0.73 | GXC | SPDR SP China | PairCorr |
| 0.72 | CNYA | iShares MSCI China | PairCorr |
The ability to find closely correlated positions to GLCN could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace GLCN when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back GLCN - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling GLCN to buy it.
The correlation of GLCN 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GLCN moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GLCN moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for GLCN can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Risk vs Return Analysis to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators. You can also try the Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.
GLCN technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.