Correlation Analysis Between VelocityShares 3x and VelocityShares 3x

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

VelocityShares 3x Long Natural  vs.  VelocityShares 3x Lng Crude Oi

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, VelocityShares 3x Long Natural Gas ETN is expected to under-perform the VelocityShares 3x. But the etf apears to be less risky and, when comparing its historical volatility, VelocityShares 3x Long Natural Gas ETN is 1.71 times less risky than VelocityShares 3x. The etf trades about -0.35 of its potential returns per unit of risk. The VelocityShares 3x Lng Crude Oil ETN New is currently generating about 0.24 of returns per unit of risk over similar time horizon. If you would invest  2,885  in VelocityShares 3x Lng Crude Oil ETN New on June 15, 2018 and sell it today you would earn a total of  867.00  from holding VelocityShares 3x Lng Crude Oil ETN New or generate 30.05% return on investment over 30 days.

Pair Corralation between VelocityShares 3x and VelocityShares 3x

-0.57
Time Period1 Month [change]
DirectionNegative 
StrengthVery Weak
Accuracy100.0%
ValuesDaily Returns

Diversification

Excellent diversification

Overlapping area represents the amount of risk that can be diversified away by holding VelocityShares 3x Long Natural 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 VelocityShares 3x 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 VelocityShares 3x Long Natural Gas ETN 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 VelocityShares 3x i.e. VelocityShares 3x and VelocityShares 3x go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
VelocityShares 3x Long  
0 

Risk-Adjusted Performance

Over the last 30 days VelocityShares 3x Long Natural Gas ETN has generated negative risk-adjusted returns adding no value to investors with long positions.
VelocityShares 3x Lng  
15 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in VelocityShares 3x Lng Crude Oil ETN New are ranked lower than 15 (%) of all global equities and portfolios over the last 30 days.

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