GraniteShares ETF Trust GraniteShares 1.75x Long AAPL Daily ETF
Top 10 Holdings
What is AAPB?
The Fund seeks daily investment results, before fees and expenses, of 1.75 times (175%) the daily percentage change of the common stock of Apple, (NASDAQ: AAPL). Apple is an American multinational company based in California that creates and markets electronic products, computers and software. The company's flagship products include the iPhone, the iPad, and the Macbook computer. Apple stores are present in 25 countries, and their website delivers to more than 39 countries.
ETFs related toAAPB
ETFs correlated to AAPB include AAPU, APLY, XLK
What is ETF correlation?
Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.
Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.
Using ETF correlations in portfolio and strategy construction
ETF correlations can help you create investing strategies and portfolios. Use them to:
- •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
- •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
- •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.
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We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.