Correlation Between Spinnaker ETF and Amplify Weight
Can any of the company-specific risk be diversified away by investing in both Spinnaker ETF and Amplify Weight 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 Spinnaker ETF and Amplify Weight into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Spinnaker ETF Series and Amplify Weight Loss, you can compare the effects of market volatilities on Spinnaker ETF and Amplify Weight 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 Spinnaker ETF with a short position of Amplify Weight. Check out your portfolio center. Please also check ongoing floating volatility patterns of Spinnaker ETF and Amplify Weight.
Diversification Opportunities for Spinnaker ETF and Amplify Weight
0.38 | Correlation Coefficient |
Weak diversification
The 3 months correlation between Spinnaker and Amplify is 0.38. Overlapping area represents the amount of risk that can be diversified away by holding Spinnaker ETF Series and Amplify Weight Loss in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplify Weight Loss and Spinnaker ETF 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 Spinnaker ETF Series are associated (or correlated) with Amplify Weight. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplify Weight Loss has no effect on the direction of Spinnaker ETF i.e., Spinnaker ETF and Amplify Weight go up and down completely randomly.
Pair Corralation between Spinnaker ETF and Amplify Weight
Given the investment horizon of 90 days Spinnaker ETF is expected to generate 4.98 times less return on investment than Amplify Weight. But when comparing it to its historical volatility, Spinnaker ETF Series is 1.9 times less risky than Amplify Weight. It trades about 0.06 of its potential returns per unit of risk. Amplify Weight Loss is currently generating about 0.15 of returns per unit of risk over similar time horizon. If you would invest 2,336 in Amplify Weight Loss on September 3, 2025 and sell it today you would earn a total of 265.00 from holding Amplify Weight Loss or generate 11.34% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Spinnaker ETF Series vs. Amplify Weight Loss
Performance |
| Timeline |
| Spinnaker ETF Series |
| Amplify Weight Loss |
Spinnaker ETF and Amplify Weight Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Spinnaker ETF and Amplify Weight
The main advantage of trading using opposite Spinnaker ETF and Amplify Weight positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Spinnaker ETF position performs unexpectedly, Amplify Weight 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 Weight will offset losses from the drop in Amplify Weight's long position.| Spinnaker ETF vs. Strategy Shares | Spinnaker ETF vs. Freedom Day Dividend | Spinnaker ETF vs. Franklin Templeton ETF | Spinnaker ETF vs. iShares MSCI China |
| Amplify Weight vs. Strategy Shares | Amplify Weight vs. Freedom Day Dividend | Amplify Weight vs. Franklin Templeton ETF | Amplify Weight vs. iShares MSCI China |
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 Commodity Channel module to use Commodity Channel Index to analyze current equity momentum.
Other Complementary Tools
| Sync Your Broker Sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors. | |
| Portfolio Suggestion Get suggestions outside of your existing asset allocation including your own model portfolios | |
| Bonds Directory Find actively traded corporate debentures issued by US companies | |
| Bollinger Bands Use Bollinger Bands indicator to analyze target price for a given investing horizon | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities |