Correlation Analysis Between DOW and VanEck Vectors

This module allows you to analyze existing cross correlation between DOW and VanEck Vectors Biotech ETF. You can compare the effects of market volatilities on DOW 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 DOW with a short position of VanEck Vectors. See also your portfolio center. Please also check ongoing floating volatility patterns of DOW and VanEck Vectors.
Horizon     30 Days    Login   to change

DOW  vs.  VanEck Vectors Biotech ETF

 Performance (%) 

Pair Volatility

Given the investment horizon of 30 days, DOW is expected to generate 0.67 times more return on investment than VanEck Vectors. However, DOW is 1.49 times less risky than VanEck Vectors. It trades about -0.15 of its potential returns per unit of risk. VanEck Vectors Biotech ETF is currently generating about -0.13 per unit of risk. If you would invest  2,640,576  in DOW on September 20, 2018 and sell it today you would lose (96,142)  from holding DOW or give up 3.64% of portfolio value over 30 days.

Pair Corralation between DOW and VanEck Vectors

Time Period1 Month [change]
ValuesDaily Returns


Very poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding DOW and VanEck Vectors Biotech ETF in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on VanEck Vectors Biotech and DOW 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 DOW 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 Biotech has no effect on the direction of DOW i.e. DOW and VanEck Vectors go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 

My Equities

My Current Equities and Potential Positions

View AllNext
GOOG - USA Stock
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway

Thematic Opportunities

Explore Investment Opportunities

Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Commodity Channel Index module to use commodity channel index to analyze current equity momentum.