Correlation Between Amplify Junior and Global X
Can any of the company-specific risk be diversified away by investing in both Amplify Junior and Global X 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 Amplify Junior and Global X into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Amplify Junior Silver and Global X Silver, you can compare the effects of market volatilities on Amplify Junior and Global X 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 Amplify Junior with a short position of Global X. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amplify Junior and Global X.
Diversification Opportunities for Amplify Junior and Global X
1.0 | Correlation Coefficient |
No risk reduction
The 3 months correlation between Amplify and Global is 1.0. Overlapping area represents the amount of risk that can be diversified away by holding Amplify Junior Silver and Global X Silver in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Global X Silver and Amplify Junior 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 Amplify Junior Silver are associated (or correlated) with Global X. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Global X Silver has no effect on the direction of Amplify Junior i.e., Amplify Junior and Global X go up and down completely randomly.
Pair Corralation between Amplify Junior and Global X
Given the investment horizon of 90 days Amplify Junior Silver is expected to generate 1.09 times more return on investment than Global X. However, Amplify Junior is 1.09 times more volatile than Global X Silver. It trades about 0.22 of its potential returns per unit of risk. Global X Silver is currently generating about 0.23 per unit of risk. If you would invest 1,493 in Amplify Junior Silver on June 12, 2025 and sell it today you would earn a total of 456.00 from holding Amplify Junior Silver or generate 30.54% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Strong |
| Accuracy | 100.0% |
| Values | Daily Returns |
Amplify Junior Silver vs. Global X Silver
Performance |
| Timeline |
| Amplify Junior Silver |
| Global X Silver |
Amplify Junior and Global X Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Amplify Junior and Global X
The main advantage of trading using opposite Amplify Junior and Global X positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amplify Junior position performs unexpectedly, Global X 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 Global X will offset losses from the drop in Global X's long position.| Amplify Junior vs. VanEck Junior Gold | Amplify Junior vs. Sprott Physical Silver | Amplify Junior vs. Global X Silver | Amplify Junior vs. iShares MSCI Global |
| Global X vs. Amplify Junior Silver | Global X vs. VanEck Junior Gold | Global X vs. Pan American Silver | Global X vs. Coeur Mining |
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 Dashboard module to portfolio dashboard that provides centralized access to all your investments.
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