Correlation Between ETC 6 and GraniteShares YieldBoost
Can any of the company-specific risk be diversified away by investing in both ETC 6 and GraniteShares YieldBoost 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 ETC 6 and GraniteShares YieldBoost into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ETC 6 Meridian and GraniteShares YieldBoost AMZN, you can compare the effects of market volatilities on ETC 6 and GraniteShares YieldBoost 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 ETC 6 with a short position of GraniteShares YieldBoost. Check out your portfolio center. Please also check ongoing floating volatility patterns of ETC 6 and GraniteShares YieldBoost.
Diversification Opportunities for ETC 6 and GraniteShares YieldBoost
-0.57 | Correlation Coefficient |
Excellent diversification
The 3 months correlation between ETC and GraniteShares is -0.57. Overlapping area represents the amount of risk that can be diversified away by holding ETC 6 Meridian and GraniteShares YieldBoost AMZN in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on GraniteShares YieldBoost and ETC 6 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 ETC 6 Meridian are associated (or correlated) with GraniteShares YieldBoost. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of GraniteShares YieldBoost has no effect on the direction of ETC 6 i.e., ETC 6 and GraniteShares YieldBoost go up and down completely randomly.
Pair Corralation between ETC 6 and GraniteShares YieldBoost
Given the investment horizon of 90 days ETC 6 Meridian is expected to generate 0.51 times more return on investment than GraniteShares YieldBoost. However, ETC 6 Meridian is 1.96 times less risky than GraniteShares YieldBoost. It trades about 0.04 of its potential returns per unit of risk. GraniteShares YieldBoost AMZN is currently generating about -0.08 per unit of risk. If you would invest 3,646 in ETC 6 Meridian on September 7, 2025 and sell it today you would earn a total of 237.00 from holding ETC 6 Meridian or generate 6.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 23.89% |
| Values | Daily Returns |
ETC 6 Meridian vs. GraniteShares YieldBoost AMZN
Performance |
| Timeline |
| ETC 6 Meridian |
| GraniteShares YieldBoost |
ETC 6 and GraniteShares YieldBoost Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ETC 6 and GraniteShares YieldBoost
The main advantage of trading using opposite ETC 6 and GraniteShares YieldBoost positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ETC 6 position performs unexpectedly, GraniteShares YieldBoost 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 GraniteShares YieldBoost will offset losses from the drop in GraniteShares YieldBoost's long position.| ETC 6 vs. Strategy Shares | ETC 6 vs. Freedom Day Dividend | ETC 6 vs. Franklin Templeton ETF | ETC 6 vs. iShares MSCI China |
| GraniteShares YieldBoost vs. Strategy Shares | GraniteShares YieldBoost vs. Freedom Day Dividend | GraniteShares YieldBoost vs. Franklin Templeton ETF | GraniteShares YieldBoost 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 Price Transformation module to use Price Transformation models to analyze the depth of different equity instruments across global markets.
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