Correlation Between Amplify ETF and 302635AH0
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By analyzing existing cross correlation between Amplify ETF Trust and FSK 2625 15 JAN 27, you can compare the effects of market volatilities on Amplify ETF and 302635AH0 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 ETF with a short position of 302635AH0. Check out your portfolio center. Please also check ongoing floating volatility patterns of Amplify ETF and 302635AH0.
Diversification Opportunities for Amplify ETF and 302635AH0
-0.33 | Correlation Coefficient |
Very good diversification
The 3 months correlation between Amplify and 302635AH0 is -0.33. Overlapping area represents the amount of risk that can be diversified away by holding Amplify ETF Trust and FSK 2625 15 JAN 27 in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on FSK 2625 15 and Amplify 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 Amplify ETF Trust are associated (or correlated) with 302635AH0. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of FSK 2625 15 has no effect on the direction of Amplify ETF i.e., Amplify ETF and 302635AH0 go up and down completely randomly.
Pair Corralation between Amplify ETF and 302635AH0
Given the investment horizon of 90 days Amplify ETF Trust is expected to generate 0.06 times more return on investment than 302635AH0. However, Amplify ETF Trust is 16.69 times less risky than 302635AH0. It trades about 0.24 of its potential returns per unit of risk. FSK 2625 15 JAN 27 is currently generating about -0.1 per unit of risk. If you would invest 9,949 in Amplify ETF Trust on December 29, 2024 and sell it today you would earn a total of 70.00 from holding Amplify ETF Trust or generate 0.7% return on investment over 90 days.
Time Period | 3 Months [change] |
Direction | Moves Against |
Strength | Insignificant |
Accuracy | 95.08% |
Values | Daily Returns |
Amplify ETF Trust vs. FSK 2625 15 JAN 27
Performance |
Timeline |
Amplify ETF Trust |
FSK 2625 15 |
Amplify ETF and 302635AH0 Volatility Contrast
Predicted Return Density |
Returns |
Pair Trading with Amplify ETF and 302635AH0
The main advantage of trading using opposite Amplify ETF and 302635AH0 positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Amplify ETF position performs unexpectedly, 302635AH0 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 302635AH0 will offset losses from the drop in 302635AH0's long position.Amplify ETF vs. Valued Advisers Trust | Amplify ETF vs. Columbia Diversified Fixed | Amplify ETF vs. Principal Exchange Traded Funds | Amplify ETF vs. MFS Active Core |
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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 USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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