Correlation Analysis Between ProShares Ultra and VelocityShares 3x

This module allows you to analyze existing cross correlation between ProShares Ultra Bloomberg Natural Gas and VelocityShares 3x Lng Crude Oil ETN New. You can compare the effects of market volatilities on ProShares Ultra and VelocityShares 3x 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 ProShares Ultra with a short position of VelocityShares 3x. See also your portfolio center. Please also check ongoing floating volatility patterns of ProShares Ultra and VelocityShares 3x.
 Time Horizon     30 Days    Login   to change
Symbolsvs

ProShares Ultra Bloomberg Natu  vs.  VelocityShares 3x Lng Crude Oi

 Performance (%) 
      Timeline 

Pair Volatility

If you would invest  0.00  in VelocityShares 3x Lng Crude Oil ETN New on June 16, 2018 and sell it today you would earn a total of  0.00  from holding VelocityShares 3x Lng Crude Oil ETN New or generate 0.0% return on investment over 30 days.

Pair Corralation between ProShares Ultra and VelocityShares 3x

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Bloomberg Natu and VelocityShares 3x Lng Crude Oi in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on VelocityShares 3x Lng and ProShares Ultra 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 ProShares Ultra Bloomberg Natural Gas are associated (or correlated) with VelocityShares 3x. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of VelocityShares 3x Lng has no effect on the direction of ProShares Ultra i.e. ProShares Ultra and VelocityShares 3x go up and down completely randomly.

Comparative Volatility

ProShares Ultra Bloo  
0 

Risk-Adjusted Performance

Over the last 30 days ProShares Ultra Bloomberg Natural Gas has generated negative risk-adjusted returns adding no value to investors with long positions.
VelocityShares 3x Lng  
0 

Risk-Adjusted Performance

Over the last 30 days VelocityShares 3x Lng Crude Oil ETN New has generated negative risk-adjusted returns adding no value to investors with long positions.

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See also your portfolio center. Please also try World Markets Correlation module to find global opportunities by holding instruments from different markets.