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.
ClaymoreDelta Global Shipping vs. Industrial Select Sector SPDR
Considering 30-days investment horizon, ClaymoreDelta Global Shipping is expected to generate 1.21 times more return on investment than Industrial Select. However, ClaymoreDelta Global is 1.21 times more volatile than Industrial Select Sector SPDR ETF. It trades about -0.11 of its potential returns per unit of risk. Industrial Select Sector SPDR ETF is currently generating about -0.22 per unit of risk. If you would invest 1,013 in ClaymoreDelta Global Shipping on September 18, 2018 and sell it today you would lose (38.00) from holding ClaymoreDelta Global Shipping or give up 3.75% of portfolio value over 30 days.
Pair Corralation between ClaymoreDelta Global and Industrial Select
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 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 has no effect on the direction of ClaymoreDelta Global i.e. ClaymoreDelta Global and Industrial Select go up and down completely randomly.
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