GraniteShares Variance
| PAL3 ETF | | | 31,000 -4,300 -12.18% |
The Variance calculation for GraniteShares draws on price and volume history. All inputs are based on actual trading observations from supported exchanges. Review
Your Equity Center to understand diversified portfolio construction. Portfolio construction reflects how positions are combined across holdings. Including GraniteShares 3x Long in a portfolio enables allocation and risk analysis. The dataset reflects available inputs without directional implication. Broader economic conditions can influence GraniteShares 3x Long's ETF valuation — related indicators include
signals in state.
GraniteShares 3x Long has current Variance of 81.87. Variance is another measure of security risk that shows the amount of dispersion of equity returns around their mean value. Variance is calculated as the average squared deviations from the mean. Evaluating a set of investment alternatives one can use variance to help determine the volatility when purchasing a specific security. Similar to Standard Deviation, the variance is a measure of how far a set of numbers is spread out around its mean.
Variance | = | SUM(RET DEV)2N |
| = | 81.87 | |
| SUM | = | Summation notation |
| RET DEV | = | Actual returns deviation over selected period |
| N | = | Number of points for the period |
Variance Peers Comparison
Variance Relative To Other Indicators
GraniteShares 3x Long earns the top ranking in variance across the ETF category. It is currently under evaluation in maximum drawdown across the ETF category yielding
0.47 of Maximum Drawdown per Variance. For GraniteShares 3x Long, Variance stands at
2.14 times Maximum Drawdown
Variance is also a measure of stock volatility and can help determine the risk an investor might take on when purchasing a specific security. A relatively big variance indicates that the daily prices or returns are far from the mean and a small variance indicates that they are located around the mean.
Compare GraniteShares to Peers
Other Technical Indicators