GraniteShares Correlations

DLLL Etf

27.46 0.13 0.48%

The current 90-days correlation between GraniteShares 2x Long and Tidal Trust II is -0.41 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as GraniteShares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if GraniteShares 2x Long moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

GraniteShares Correlation With Market

Weak diversification

The correlation between GraniteShares 2x Long and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares 2x Long and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with GraniteShares Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in GraniteShares 2x Long. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with GraniteShares Etf

0.93	SSO	ProShares Ultra SP500	Pair Corr
0.93	SPXL	Direxion Daily SP500	Pair Corr
0.94	QLD	ProShares Ultra QQQ	Pair Corr
0.93	UPRO	ProShares UltraPro SP500	Pair Corr
0.94	TECL	Direxion Daily Technology	Pair Corr
0.7	LABU	Direxion Daily SP	Pair Corr
0.7	UYG	ProShares Ultra Fina	Pair Corr
0.92	VTI	Vanguard Total Stock	Pair Corr
0.93	SPY	SPDR SP 500	Pair Corr
0.93	IVV	iShares Core SP	Pair Corr
0.83	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.84	VTV	Vanguard Value Index	Pair Corr
0.94	VUG	Vanguard Growth Index	Pair Corr
0.88	VO	Vanguard Mid Cap	Pair Corr
0.81	VEA	Vanguard FTSE Developed	Pair Corr
0.86	VB	Vanguard Small Cap	Pair Corr
0.87	VWO	Vanguard FTSE Emerging	Pair Corr
0.87	JPM	JPMorgan Chase	Pair Corr
0.74	AA	Alcoa Corp	Pair Corr
0.66	PFE	Pfizer Inc	Pair Corr
0.87	CAT	Caterpillar	Pair Corr
0.63	MRK	Merck Company	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.71	BAC	Bank of America Aggressive Push	Pair Corr
0.85	GE	GE Aerospace	Pair Corr
0.84	CVX	Chevron Corp	Pair Corr

Moving against GraniteShares Etf

0.44	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.53	KO	Coca Cola	Pair Corr
0.45	IBM	International Business	Pair Corr
0.33	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.89	0.48	0.66	0.59	0.49	-0.76	0.76	0.59	0.32	META
MSFT	0.89		0.51	0.73	0.36	0.42	-0.67	0.92	0.64	0.43	MSFT
UBER	0.48	0.51		0.84	0.4	0.54	-0.15	0.63	0.65	0.38	UBER
F	0.66	0.73	0.84		0.43	0.63	-0.43	0.81	0.83	0.57	F
T	0.59	0.36	0.4	0.43		0.47	-0.48	0.38	0.54	0.07	T
A	0.49	0.42	0.54	0.63	0.47		-0.13	0.55	0.76	0.67	A
CRM	-0.76	-0.67	-0.15	-0.43	-0.48	-0.13		-0.45	-0.41	-0.07	CRM
JPM	0.76	0.92	0.63	0.81	0.38	0.55	-0.45		0.73	0.52	JPM
MRK	0.59	0.64	0.65	0.83	0.54	0.76	-0.41	0.73		0.64	MRK
XOM	0.32	0.43	0.38	0.57	0.07	0.67	-0.07	0.52	0.64		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

JPM	+ 0.92	MSFT
MSFT	+ 0.89	META
F	+ 0.84	UBER
MRK	+ 0.83	F
JPM	+ 0.81	F
JPM	+ 0.76	META

High negative correlations

CRM	- 0.76	META
CRM	- 0.67	MSFT
CRM	- 0.48	T
JPM	- 0.45	CRM
CRM	- 0.43	F
MRK	- 0.41	CRM

GraniteShares Competition Risk-Adjusted Indicators

There is a big difference between GraniteShares Etf performing well and GraniteShares ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze GraniteShares' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.39	0.19	0.13	0.32	1.12	(1.70)	3.16	(2.27)	14.28
MSFT	0.72	0.11	0.07	0.32	0.64	(0.81)	1.80	(1.42)	5.71
UBER	1.40	0.02	0.00	0.12	1.69	(1.49)	2.72	(3.36)	11.37
F	1.31	0.05	0.04	0.13	1.52	(1.34)	2.55	(2.36)	7.46
T	0.76	0.05	(0.03)	0.50	0.98	(0.75)	1.63	(1.96)	5.41
A	1.41	(0.04)	0.01	0.07	1.76	(1.45)	2.82	(2.60)	9.19
CRM	1.25	(0.34)	0.00	(0.17)	0.00	0.00	2.32	(3.26)	6.27
JPM	0.83	0.07	0.07	0.17	0.89	(0.91)	1.78	(1.51)	5.19
MRK	1.14	0.11	0.06	0.22	1.37	(1.12)	2.90	(1.91)	7.79
XOM	1.00	0.08	0.00	0.59	1.24	(1.00)	2.14	(2.07)	6.25

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