GraniteShares HIPS Correlations

HIPS Etf

USD 13.29 0.04 0.30%

The current 90-days correlation between GraniteShares HIPS High and Amplify High Income is 0.01 (i.e., Significant diversification). The correlation of GraniteShares HIPS is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

GraniteShares HIPS Correlation With Market

Good diversification

The correlation between GraniteShares HIPS High and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding GraniteShares HIPS High and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in GraniteShares HIPS High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with GraniteShares Etf

0.81	NTSX	WisdomTree 9060 Balanced	Pair Corr
0.8	CVY	Invesco Zacks Multi	Pair Corr
0.76	ALTY	Global X Alternative	Pair Corr
0.61	VB	Vanguard Small Cap	Pair Corr
0.62	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.72	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.76	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.63	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.73	BAC	Bank of America Aggressive Push	Pair Corr
0.64	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr

Moving against GraniteShares Etf

0.35	VEA	Vanguard FTSE Developed	Pair Corr
0.66	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.66	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.57	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.54	KO	Coca Cola Sell-off Trend	Pair Corr

Related Correlations Analysis

	YYY	ALTY	CEFS	GYLD	HNDL
YYY		0.68	0.59	0.42	0.67	YYY
ALTY	0.68		0.85	0.24	0.86	ALTY
CEFS	0.59	0.85		0.26	0.68	CEFS
GYLD	0.42	0.24	0.26		0.45	GYLD
HNDL	0.67	0.86	0.68	0.45		HNDL
	YYY	ALTY	CEFS	GYLD	HNDL

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GraniteShares HIPS Constituents Risk-Adjusted Indicators

There is a big difference between GraniteShares Etf performing well and GraniteShares HIPS 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 HIPS's 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
YYY	0.33	0.01	(0.22)	0.70	0.38	(0.36)	0.66	(0.66)	1.82
ALTY	0.32	0.04	(0.14)	0.62	0.36	(0.33)	0.76	(0.69)	1.69
CEFS	0.48	0.06	(0.10)	(0.48)	0.49	(0.54)	1.00	(1.03)	2.45
GYLD	0.41	(0.05)	0.00	(0.09)	0.00	0.00	0.85	(0.97)	3.29
HNDL	0.41	0.03	(0.14)	0.75	0.48	(0.42)	0.70	(0.82)	2.20

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