Correlation Between VanEck Video and Amplify Video
Can any of the company-specific risk be diversified away by investing in both VanEck Video and Amplify Video 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 VanEck Video and Amplify Video into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between VanEck Video Gaming and Amplify Video Game, you can compare the effects of market volatilities on VanEck Video and Amplify Video 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 VanEck Video with a short position of Amplify Video. Check out your portfolio center. Please also check ongoing floating volatility patterns of VanEck Video and Amplify Video.
Diversification Opportunities for VanEck Video and Amplify Video
0.94 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between VanEck and Amplify is 0.94. Overlapping area represents the amount of risk that can be diversified away by holding VanEck Video Gaming and Amplify Video Game in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplify Video Game and VanEck Video 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 VanEck Video Gaming are associated (or correlated) with Amplify Video. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplify Video Game has no effect on the direction of VanEck Video i.e., VanEck Video and Amplify Video go up and down completely randomly.
Pair Corralation between VanEck Video and Amplify Video
Given the investment horizon of 90 days VanEck Video is expected to generate 1.69 times less return on investment than Amplify Video. But when comparing it to its historical volatility, VanEck Video Gaming is 1.12 times less risky than Amplify Video. It trades about 0.16 of its potential returns per unit of risk. Amplify Video Game is currently generating about 0.25 of returns per unit of risk over similar time horizon. If you would invest 7,767 in Amplify Video Game on May 27, 2025 and sell it today you would earn a total of 1,506 from holding Amplify Video Game or generate 19.39% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 98.44% |
| Values | Daily Returns |
VanEck Video Gaming vs. Amplify Video Game
Performance |
| Timeline |
| VanEck Video Gaming |
| Amplify Video Game |
VanEck Video and Amplify Video Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with VanEck Video and Amplify Video
The main advantage of trading using opposite VanEck Video and Amplify Video positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if VanEck Video position performs unexpectedly, Amplify Video 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 Amplify Video will offset losses from the drop in Amplify Video's long position.| VanEck Video vs. Roundhill Video Games | VanEck Video vs. Global X Video | VanEck Video vs. Amplify Video Game | VanEck Video vs. Global X Cloud |
| Amplify Video vs. VanEck Video Gaming | Amplify Video vs. Roundhill Video Games | Amplify Video vs. Global X Social | Amplify Video vs. Amplify Digital Payments |
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 ETF Categories module to list of ETF categories grouped based on various criteria, such as the investment strategy or type of investments.
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