Correlation Analysis Between VelocityShares 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 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 with a short position of ProShares Ultra. See also your portfolio center. Please also check ongoing floating volatility patterns of VelocityShares and ProShares Ultra.
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 generate 1.39 times more return on investment than ProShares Ultra. However, VelocityShares is 1.39 times more volatile than ProShares Ultra Silver. It trades about 0.28 of its potential returns per unit of risk. ProShares Ultra Silver is currently generating about -0.09 per unit of risk. If you would invest  3,209  in VelocityShares 3x Lng Crude Oil ETN New on August 21, 2018 and sell it today you would earn a total of  764.00  from holding VelocityShares 3x Lng Crude Oil ETN New or generate 23.81% return on investment over 30 days.

Pair Corralation between VelocityShares and ProShares Ultra

-0.2
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy91.3%
ValuesDaily Returns

Diversification

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 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 i.e. VelocityShares and ProShares Ultra go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
VelocityShares 3x Lng  
18 

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