Correlation Analysis Between ETFS Bloomberg and United States

This module allows you to analyze existing cross correlation between ETFS Bloomberg Engy Lngr Dtd Strt K 1Fr and United States Oil. You can compare the effects of market volatilities on ETFS Bloomberg and United States 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 ETFS Bloomberg with a short position of United States. See also your portfolio center. Please also check ongoing floating volatility patterns of ETFS Bloomberg and United States.
Horizon     30 Days    Login   to change
Symbolsvs

ETFS Bloomberg Engy Lngr Dtd S  vs.  United States Oil

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, ETFS Bloomberg is expected to generate 2.04 times less return on investment than United States. But when comparing it to its historical volatility, ETFS Bloomberg Engy Lngr Dtd Strt K 1Fr is 1.83 times less risky than United States. It trades about 0.17 of its potential returns per unit of risk. United States Oil is currently generating about 0.19 of returns per unit of risk over similar time horizon. If you would invest  1,450  in United States Oil on August 26, 2018 and sell it today you would earn a total of  75.00  from holding United States Oil or generate 5.17% return on investment over 30 days.

Pair Corralation between ETFS Bloomberg and United States

-0.53
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy80.95%
ValuesDaily Returns

Diversification

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding ETFS Bloomberg Engy Lngr Dtd S and United States Oil in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on United States Oil and ETFS Bloomberg 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 ETFS Bloomberg Engy Lngr Dtd Strt K 1Fr are associated (or correlated) with United States. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of United States Oil has no effect on the direction of ETFS Bloomberg i.e. ETFS Bloomberg and United States go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
ETFS Bloomberg Engy  
11 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ETFS Bloomberg Engy Lngr Dtd Strt K 1Fr are ranked lower than 11 (%) of all global equities and portfolios over the last 30 days.
United States Oil  
12 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in United States Oil are ranked lower than 12 (%) of all global equities and portfolios over the last 30 days.

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GOOG - USA Stock
Alphabet
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IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1166.09

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