ProShares Big Correlations

DAT Etf

USD 36.98 0.80 2.12%

The current 90-days correlation between ProShares Big Data and ProShares MSCI Transformational is 0.46 (i.e., Very weak diversification). The correlation of ProShares Big 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 Big Correlation With Market

Very good diversification

The correlation between ProShares Big Data and DJI is -0.44 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Big Data and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Big Data. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with ProShares Etf

0.61	VGT	Vanguard Information	Pair Corr
0.66	IYW	iShares Technology ETF	Pair Corr
0.93	CIBR	First Trust NASDAQ	Pair Corr
0.98	IGV	iShares Expanded Tech	Pair Corr
0.91	FDN	First Trust Dow	Pair Corr

Moving against ProShares Etf

0.74	ELON	Battleshares TSLA	Pair Corr
0.65	AMPD	Tidal ETF Services	Pair Corr
0.63	SOXX	iShares Semiconductor ETF	Pair Corr
0.59	SMH	VanEck Semiconductor ETF Sell-off Trend	Pair Corr
0.47	CPST	Calamos ETF Trust	Pair Corr
0.46	ITWO	Proshares Russell 2000	Pair Corr
0.39	FB	ProShares Trust ProShares	Pair Corr
0.37	GOOX	Etf Opportunities Trust	Pair Corr
0.92	DOGG	First Trust Exchange Low Volatility	Pair Corr
0.79	STXE	EA Series Trust	Pair Corr
0.79	UDI	USCF ETF Trust	Pair Corr
0.78	BSMS	Invesco BulletShares 2028	Pair Corr
0.76	CCNR	CoreCommodity Natural	Pair Corr
0.75	FNDC	Schwab Fundamental	Pair Corr
0.75	TAXT	Northern Trust Tax	Pair Corr
0.72	XFIX	Fm Investments Symbol Change	Pair Corr
0.71	IAUM	iShares Gold Trust	Pair Corr
0.65	EURL	Direxion Daily FTSE	Pair Corr
0.61	IRTR	iShares Trust	Pair Corr
0.56	TERG	Leverage Shares 2X Downward Rally	Pair Corr
0.56	FPXE	First Trust IPOX	Pair Corr
0.55	IQSZ	Invesco Actively Managed	Pair Corr
0.5	FXC	Invesco CurrencyShares	Pair Corr
0.5	PFFA	Virtus InfraCap Preferred	Pair Corr
0.49	WDNA	WisdomTree BioRevolution	Pair Corr
0.89	WEBS	Direxion Daily Dow	Pair Corr
0.83	LVHI	Franklin International Low Volatility	Pair Corr
0.79	SCDV	ETF Series Solutions	Pair Corr
0.78	BMVP	Invesco Bloomberg MVP	Pair Corr
0.72	EWT	iShares MSCI Taiwan	Pair Corr
0.68	NCPB	Nuveen Core Plus	Pair Corr

Related Correlations Analysis

	UGE	PQAP	OND	EZJ	SCDS	ESMV	MCDS	MNRS	AGIQ	ANEW
UGE		0.64	-0.86	0.93	0.78	0.68	0.79	-0.18	-0.35	-0.47	UGE
PQAP	0.64		-0.53	0.71	0.94	0.71	0.93	0.06	0.3	0.13	PQAP
OND	-0.86	-0.53		-0.78	-0.62	-0.5	-0.66	0.53	0.59	0.63	OND
EZJ	0.93	0.71	-0.78		0.8	0.75	0.87	-0.09	-0.19	-0.31	EZJ
SCDS	0.78	0.94	-0.62	0.8		0.73	0.96	0.12	0.17	0.04	SCDS
ESMV	0.68	0.71	-0.5	0.75	0.73		0.79	0.0	0.09	0.01	ESMV
MCDS	0.79	0.93	-0.66	0.87	0.96	0.79		0.03	0.14	0.02	MCDS
MNRS	-0.18	0.06	0.53	-0.09	0.12	0.0	0.03		0.55	0.67	MNRS
AGIQ	-0.35	0.3	0.59	-0.19	0.17	0.09	0.14	0.55		0.76	AGIQ
ANEW	-0.47	0.13	0.63	-0.31	0.04	0.01	0.02	0.67	0.76		ANEW
	UGE	PQAP	OND	EZJ	SCDS	ESMV	MCDS	MNRS	AGIQ	ANEW

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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

MCDS	+ 0.96	SCDS
SCDS	+ 0.94	PQAP
EZJ	+ 0.93	UGE
MCDS	+ 0.93	PQAP
MCDS	+ 0.87	EZJ
SCDS	+ 0.8	EZJ

High negative correlations

OND	- 0.86	UGE
EZJ	- 0.78	OND
MCDS	- 0.66	OND
SCDS	- 0.62	OND
OND	- 0.53	PQAP
ESMV	- 0.5	OND

ProShares Big Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Big 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 Big'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
UGE	1.25	0.38	0.30	1.37	0.78	(1.54)	2.97	(2.05)	6.54
PQAP	0.15	0.01	(0.09)	0.11	0.14	(0.16)	0.32	(0.42)	1.24
OND	1.02	(0.35)	0.00	8.31	0.00	0.00	1.57	(3.02)	6.89
EZJ	1.74	0.29	0.14	0.20	1.82	(1.90)	4.28	(3.73)	9.28
SCDS	0.84	0.08	0.08	0.11	0.86	(0.92)	2.31	(1.77)	4.82
ESMV	0.49	0.01	(0.02)	0.06	0.80	(0.50)	1.05	(0.85)	7.02
MCDS	0.62	0.05	0.06	0.10	0.64	(0.68)	1.55	(1.28)	3.89
MNRS	4.10	(0.44)	0.00	(0.13)	0.00	0.00	8.58	(9.89)	24.75
AGIQ	1.08	(0.12)	0.00	(3.15)	0.00	0.00	2.02	(2.52)	6.29
ANEW	0.71	(0.11)	0.00	(0.09)	0.00	0.00	1.54	(1.78)	5.62

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