Correlation Analysis Between ClaymoreDelta Global and Industrial Select

This module allows you to analyze existing cross correlation between ClaymoreDelta Global Shipping and Industrial Select Sector SPDR ETF. You can compare the effects of market volatilities on ClaymoreDelta Global and Industrial Select 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 ClaymoreDelta Global with a short position of Industrial Select. See also your portfolio center. Please also check ongoing floating volatility patterns of ClaymoreDelta Global and Industrial Select.
 Time Horizon     30 Days    Login   to change
Symbolsvs

ClaymoreDelta Global Shipping  vs.  Industrial Select Sector SPDR

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, ClaymoreDelta Global Shipping is expected to under-perform the Industrial Select. In addition to that, ClaymoreDelta Global is 1.08 times more volatile than Industrial Select Sector SPDR ETF. It trades about -0.36 of its total potential returns per unit of risk. Industrial Select Sector SPDR ETF is currently generating about 0.1 per unit of volatility. If you would invest  7,328  in Industrial Select Sector SPDR ETF on June 20, 2018 and sell it today you would earn a total of  124.00  from holding Industrial Select Sector SPDR ETF or generate 1.69% return on investment over 30 days.

Pair Corralation between ClaymoreDelta Global and Industrial Select

-0.32
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding ClaymoreDelta Global Shipping and Industrial Select Sector SPDR in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Industrial Select Se and ClaymoreDelta Global 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 ClaymoreDelta Global Shipping are associated (or correlated) with Industrial Select. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Industrial Select Se has no effect on the direction of ClaymoreDelta Global i.e. ClaymoreDelta Global and Industrial Select go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
ClaymoreDelta Global  
0 

Risk-Adjusted Performance

Over the last 30 days ClaymoreDelta Global Shipping has generated negative risk-adjusted returns adding no value to investors with long positions.
Industrial Select Se  
6 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Industrial Select Sector SPDR ETF are ranked lower than 6 (%) of all global equities and portfolios over the last 30 days.

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Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1186.2

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