Correlation Between Global X and Amplify Junior
Can any of the company-specific risk be diversified away by investing in both Global X and Amplify Junior 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 Global X and Amplify Junior into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Global X Silver and Amplify Junior Silver, you can compare the effects of market volatilities on Global X and Amplify Junior 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 Global X with a short position of Amplify Junior. Check out your portfolio center. Please also check ongoing floating volatility patterns of Global X and Amplify Junior.
Diversification Opportunities for Global X and Amplify Junior
0.96 | Correlation Coefficient |
Almost no diversification
The 3 months correlation between Global and Amplify is 0.96. Overlapping area represents the amount of risk that can be diversified away by holding Global X Silver and Amplify Junior Silver in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Amplify Junior Silver and Global X 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 Global X Silver are associated (or correlated) with Amplify Junior. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Amplify Junior Silver has no effect on the direction of Global X i.e., Global X and Amplify Junior go up and down completely randomly.
Pair Corralation between Global X and Amplify Junior
Considering the 90-day investment horizon Global X Silver is expected to generate 0.89 times more return on investment than Amplify Junior. However, Global X Silver is 1.12 times less risky than Amplify Junior. It trades about 0.09 of its potential returns per unit of risk. Amplify Junior Silver is currently generating about 0.07 per unit of risk. If you would invest 2,551 in Global X Silver on June 8, 2025 and sell it today you would earn a total of 3,598 from holding Global X Silver or generate 141.04% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Global X Silver vs. Amplify Junior Silver
Performance |
| Timeline |
| Global X Silver |
| Amplify Junior Silver |
Global X and Amplify Junior Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Global X and Amplify Junior
The main advantage of trading using opposite Global X and Amplify Junior positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Global X position performs unexpectedly, Amplify Junior 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 Junior will offset losses from the drop in Amplify Junior's long position.| Global X vs. Amplify Junior Silver | Global X vs. VanEck Junior Gold | Global X vs. Pan American Silver | Global X vs. Coeur Mining |
| Amplify Junior vs. VanEck Junior Gold | Amplify Junior vs. Sprott Physical Silver | Amplify Junior vs. Global X Silver | Amplify Junior vs. iShares MSCI Global |
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 Portfolio Anywhere module to track or share privately all of your investments from the convenience of any device.
Other Complementary Tools
| Content Syndication Quickly integrate customizable finance content to your own investment portal | |
| Equity Search Search for actively traded equities including funds and ETFs from over 30 global markets | |
| Technical Analysis Check basic technical indicators and analysis based on most latest market data | |
| Risk-Return Analysis View associations between returns expected from investment and the risk you assume | |
| Competition Analyzer Analyze and compare many basic indicators for a group of related or unrelated entities |