Correlation Analysis Between VelocityShares 3x and ProShares Ultra

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

VelocityShares 3x Lng Crude Oi  vs.  ProShares Ultra Silver

 Performance (%) 
      Timeline 

Pair Volatility

Considering 30-days investment horizon, VelocityShares 3x Lng Crude Oil ETN New is expected to under-perform the ProShares Ultra. In addition to that, VelocityShares 3x is 2.25 times more volatile than ProShares Ultra Silver. It trades about -0.33 of its total potential returns per unit of risk. ProShares Ultra Silver is currently generating about -0.06 per unit of volatility. If you would invest  3,146  in ProShares Ultra Silver on May 20, 2018 and sell it today you would lose (96.00)  from holding ProShares Ultra Silver or give up 3.05% of portfolio value over 30 days.

Pair Corralation between VelocityShares 3x and ProShares Ultra

-0.21
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Very good diversification

Overlapping area represents the amount of risk that can be diversified away by holding VelocityShares 3x Lng Crude Oi and ProShares Ultra Silver in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ProShares Ultra Silver 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 Lng Crude Oil ETN New are associated (or correlated) with ProShares Ultra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ProShares Ultra Silver has no effect on the direction of VelocityShares 3x i.e. VelocityShares 3x and ProShares Ultra go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
VelocityShares 3x Lng  
0 

Risk-Adjusted Performance

Over the last 30 days VelocityShares 3x Lng Crude Oil ETN New has generated negative risk-adjusted returns adding no value to investors with long positions.
ProShares Ultra Silver  
0 

Risk-Adjusted Performance

Over the last 30 days ProShares Ultra Silver has generated negative risk-adjusted returns adding no value to investors with long positions.

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