Correlation Between GraniteShares 125x and Barclays Capital
Can any of the company-specific risk be diversified away by investing in both GraniteShares 125x and Barclays Capital at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining GraniteShares 125x and Barclays Capital into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between GraniteShares 125x Long and Barclays Capital, you can compare the effects of market volatilities on GraniteShares 125x and Barclays Capital 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 GraniteShares 125x with a short position of Barclays Capital. Check out your portfolio center. Please also check ongoing floating volatility patterns of GraniteShares 125x and Barclays Capital.
Diversification Opportunities for GraniteShares 125x and Barclays Capital
0.4 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between GraniteShares and Barclays is 0.4. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares 125x Long and Barclays Capital in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Barclays Capital and GraniteShares 125x 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 GraniteShares 125x Long are associated (or correlated) with Barclays Capital. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Barclays Capital has no effect on the direction of GraniteShares 125x i.e., GraniteShares 125x and Barclays Capital go up and down completely randomly.
Pair Corralation between GraniteShares 125x and Barclays Capital
If you would invest 974.00 in Barclays Capital on February 18, 2024 and sell it today you would earn a total of 0.00 from holding Barclays Capital or generate 0.0% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Together |
Strength | Weak |
Accuracy | 1.56% |
Values | Daily Returns |
GraniteShares 125x Long vs. Barclays Capital
Performance |
Timeline |
GraniteShares 125x Long |
Barclays Capital |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
GraniteShares 125x and Barclays Capital Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with GraniteShares 125x and Barclays Capital
The main advantage of trading using opposite GraniteShares 125x and Barclays Capital positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GraniteShares 125x position performs unexpectedly, Barclays Capital can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Barclays Capital will offset losses from the drop in Barclays Capital's long position.GraniteShares 125x vs. Canadian Solar | GraniteShares 125x vs. Emeren Group | GraniteShares 125x vs. First Solar | GraniteShares 125x vs. Ascent Solar Technologies |
Barclays Capital vs. Vanguard Total Stock | Barclays Capital vs. SPDR SP 500 | Barclays Capital vs. iShares Core SP | Barclays Capital vs. Vanguard Total Bond |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Money Managers module to screen money managers from public funds and ETFs managed around the world.
Other Complementary Tools
Portfolio Anywhere Track or share privately all of your investments from the convenience of any device | |
Content Syndication Quickly integrate customizable finance content to your own investment portal | |
Investing Opportunities Build portfolios using our predefined set of ideas and optimize them against your investing preferences | |
Positions Ratings Determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance | |
Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges | |
Share Portfolio Track or share privately all of your investments from the convenience of any device | |
Pair Correlation Compare performance and examine fundamental relationship between any two equity instruments |