Pair Correlation 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 is expected to generate 1.39 times less return on investment than Industrial Select. In addition to that, ClaymoreDelta Global is 1.85 times more volatile than Industrial Select Sector SPDR ETF. It trades about 0.22 of its total potential returns per unit of risk. Industrial Select Sector SPDR ETF is currently generating about 0.55 per unit of volatility. If you would invest  7,532  in Industrial Select Sector SPDR ETF on December 20, 2017 and sell it today you would earn a total of  427  from holding Industrial Select Sector SPDR ETF or generate 5.67% return on investment over 30 days.

Correlation Coefficient

Pair Corralation between ClaymoreDelta Global and Industrial Select
0.9

Parameters

Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

Almost no 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

  
14 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ClaymoreDelta Global Shipping are ranked lower than 14 (%) of all global equities and portfolios over the last 30 days.

Industrial Select Se

  
36 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in Industrial Select Sector SPDR ETF are ranked lower than 36 (%) of all global equities and portfolios over the last 30 days.