Correlation Analysis Between United States and VelocityShares 3x

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

United States 3x Oil  vs.  VelocityShares 3x Lng Crude Oi

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, United States 3x Oil is expected to generate 1.02 times more return on investment than VelocityShares 3x. However, United States is 1.02 times more volatile than VelocityShares 3x Lng Crude Oil ETN New. It trades about 0.16 of its potential returns per unit of risk. VelocityShares 3x Lng Crude Oil ETN New is currently generating about 0.15 per unit of risk. If you would invest  5,285  in United States 3x Oil on June 19, 2018 and sell it today you would earn a total of  1,039  from holding United States 3x Oil or generate 19.66% return on investment over 30 days.

Pair Corralation between United States and VelocityShares 3x

1.0
Time Period1 Month [change]
DirectionPositive 
StrengthVery Strong
Accuracy100.0%
ValuesDaily Returns

Diversification

No risk reduction

Overlapping area represents the amount of risk that can be diversified away by holding United States 3x Oil 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 United States 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 United States 3x Oil 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 United States i.e. United States and VelocityShares 3x go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
United States 3x  
10 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in United States 3x Oil are ranked lower than 10 (%) of all global equities and portfolios over the last 30 days.
VelocityShares 3x Lng  
9 

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 9 (%) of all global equities and portfolios over the last 30 days.

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