ProShares Long Correlations

CLIX Etf

USD 52.87 1.75 3.20%

The current 90-days correlation between ProShares Long Onlin and Amplify ETF Trust is 0.37 (i.e., Weak diversification). The correlation of ProShares Long is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Long Correlation With Market

Good diversification

The correlation between ProShares Long OnlineShort and DJI is -0.06 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Long OnlineShort and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ProShares Long OnlineShort. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving against ProShares Etf

0.66	IEO	iShares Oil Gas Low Volatility	Pair Corr
0.64	LBAY	Tidal ETF Trust	Pair Corr
0.48	THD	iShares MSCI Thailand	Pair Corr
0.37	DBJP	Xtrackers MSCI Japan	Pair Corr
0.34	ABI	VictoryShares Pioneer	Pair Corr
0.33	ELON	Battleshares TSLA	Pair Corr
0.33	SYLD	Cambria Shareholder Yield	Pair Corr
0.51	RDIV	Invesco SP Ultra	Pair Corr
0.45	PWV	Invesco Dynamic Large	Pair Corr
0.4	XES	SPDR SP Oil	Pair Corr

Related Correlations Analysis

	PSWD	RHTX	FLJJ	EUDV	BDVG	BNGE	EAOK	IVRS	SPUT	SLJY
PSWD		-0.47	-0.54	-0.46	-0.72	0.76	-0.49	0.7	-0.3	-0.54	PSWD
RHTX	-0.47		0.93	0.88	0.74	-0.49	0.91	-0.18	0.79	0.98	RHTX
FLJJ	-0.54	0.93		0.86	0.79	-0.46	0.91	-0.2	0.91	0.9	FLJJ
EUDV	-0.46	0.88	0.86		0.82	-0.48	0.96	-0.28	0.7	0.85	EUDV
BDVG	-0.72	0.74	0.79	0.82		-0.77	0.86	-0.65	0.58	0.76	BDVG
BNGE	0.76	-0.49	-0.46	-0.48	-0.77		-0.51	0.88	-0.17	-0.54	BNGE
EAOK	-0.49	0.91	0.91	0.96	0.86	-0.51		-0.3	0.78	0.88	EAOK
IVRS	0.7	-0.18	-0.2	-0.28	-0.65	0.88	-0.3		0.07	-0.24	IVRS
SPUT	-0.3	0.79	0.91	0.7	0.58	-0.17	0.78	0.07		0.71	SPUT
SLJY	-0.54	0.98	0.9	0.85	0.76	-0.54	0.88	-0.24	0.71		SLJY
	PSWD	RHTX	FLJJ	EUDV	BDVG	BNGE	EAOK	IVRS	SPUT	SLJY

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SLJY	+ 0.98	RHTX
EAOK	+ 0.96	EUDV
FLJJ	+ 0.93	RHTX
EAOK	+ 0.91	RHTX
EAOK	+ 0.91	FLJJ
SPUT	+ 0.91	FLJJ

High negative correlations

BNGE	- 0.77	BDVG
BDVG	- 0.72	PSWD
IVRS	- 0.65	BDVG
SLJY	- 0.54	BNGE
SLJY	- 0.54	PSWD
FLJJ	- 0.54	PSWD

ProShares Long Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Long ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ProShares Long's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
PSWD	1.04	(0.22)	0.00	(0.16)	0.00	0.00	1.89	(2.25)	6.26
RHTX	0.74	0.07	0.03	0.17	1.28	(0.71)	1.43	(1.41)	6.79
FLJJ	0.17	0.01	(0.20)	0.13	0.14	(0.18)	0.41	(0.53)	1.48
EUDV	0.63	0.09	(0.02)	(0.48)	0.80	(0.61)	1.25	(1.33)	3.38
BDVG	0.50	0.14	0.07	(2.33)	0.37	(0.58)	1.18	(0.86)	2.91
BNGE	0.85	(0.20)	0.00	(36.98)	0.00	0.00	1.59	(2.69)	5.29
EAOK	0.21	0.03	(0.19)	0.61	0.17	(0.25)	0.48	(0.44)	1.35
IVRS	1.28	(0.34)	0.00	(0.20)	0.00	0.00	2.17	(3.91)	8.70
SPUT	0.34	(0.02)	(0.14)	0.05	0.43	(0.38)	0.75	(0.63)	2.32
SLJY	2.34	0.61	0.17	0.51	3.09	(2.59)	5.37	(4.13)	21.27

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