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 |
| Symbols | vs |
ClaymoreDelta Global Shipping vs. Industrial Select Sector SPDR
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 Period | 1 Month [change] |
| Direction | Negative |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily 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
| ClaymoreDelta Global |
0 Risk-Adjusted Performance
Risk-Adjusted PerformanceOver the last 30 days ClaymoreDelta Global Shipping has generated negative risk-adjusted returns adding no value to investors with long positions.
ClaymoreDelta Global Shipping
Pair trading matchups for ClaymoreDelta Global
| Industrial Select Se |
6 Risk-Adjusted Performance
Risk-Adjusted PerformanceCompared 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.
Industrial Select Sector SPDR ETF
Pair trading matchups for Industrial Select
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