ProShares Big Correlations

DAT Etf

USD 43.08 0.59 1.39%

The current 90-days correlation between ProShares Big Data and ProShares MSCI Transformational is 0.55 (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

Good diversification

The correlation between ProShares Big Data and DJI is -0.18 (i.e., 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

0.72	VGT	Vanguard Information	Pair Corr
0.62	XLK	Technology Select Sector	Pair Corr
0.63	IYW	iShares Technology ETF	Pair Corr
0.86	CIBR	First Trust NASDAQ	Pair Corr
0.71	FTEC	Fidelity MSCI Information	Pair Corr
0.95	IGV	iShares Expanded Tech	Pair Corr
0.89	FDN	First Trust Dow	Pair Corr
0.81	MSFT	Microsoft Earnings Call Tomorrow	Pair Corr
0.77	HPQ	HP Inc	Pair Corr

Moving against ProShares Etf

0.74	JNJ	Johnson Johnson	Pair Corr
0.67	KO	Coca Cola Aggressive Push	Pair Corr
0.62	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.57	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.49	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.48	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.42	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.36	CSCO	Cisco Systems Aggressive Push	Pair Corr

Related Correlations Analysis

	UGE	PQAP	OND	EZJ	SCDS	ESMV	MCDS	MNRS	AGIQ	ANEW
UGE		0.62	-0.4	0.69	0.78	0.59	0.73	-0.14	0.12	0.26	UGE
PQAP	0.62		-0.61	0.79	0.92	0.58	0.94	-0.43	0.49	0.2	PQAP
OND	-0.4	-0.61		-0.27	-0.49	-0.17	-0.49	0.91	0.28	0.53	OND
EZJ	0.69	0.79	-0.27		0.87	0.55	0.88	-0.01	0.62	0.43	EZJ
SCDS	0.78	0.92	-0.49	0.87		0.59	0.97	-0.21	0.54	0.34	SCDS
ESMV	0.59	0.58	-0.17	0.55	0.59		0.66	-0.11	0.32	0.48	ESMV
MCDS	0.73	0.94	-0.49	0.88	0.97	0.66		-0.27	0.55	0.36	MCDS
MNRS	-0.14	-0.43	0.91	-0.01	-0.21	-0.11	-0.27		0.41	0.63	MNRS
AGIQ	0.12	0.49	0.28	0.62	0.54	0.32	0.55	0.41		0.7	AGIQ
ANEW	0.26	0.2	0.53	0.43	0.34	0.48	0.36	0.63	0.7		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	+ 0.97	SCDS
MCDS	+ 0.94	PQAP
SCDS	+ 0.92	PQAP
MNRS	+ 0.91	OND
MCDS	+ 0.88	EZJ
SCDS	+ 0.87	EZJ

High negative correlations

OND	- 0.61	PQAP
MCDS	- 0.49	OND
SCDS	- 0.49	OND
MNRS	- 0.43	PQAP
OND	- 0.4	UGE
MNRS	- 0.27	MCDS

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	1.16	0.10	0.04	0.37	1.22	(1.36)	2.53	(2.05)	5.63
PQAP	0.16	0.02	(0.17)	0.17	0.00	(0.18)	0.32	(0.35)	1.10
OND	0.87	(0.20)	0.00	(1.02)	0.00	0.00	1.57	(2.58)	4.98
EZJ	1.32	0.04	0.04	0.10	1.84	(1.32)	3.27	(3.28)	9.12
SCDS	0.83	0.03	0.04	0.10	0.92	(0.91)	1.77	(1.79)	4.82
ESMV	0.50	(0.02)	(0.07)	0.02	0.87	(0.49)	0.83	(0.86)	7.02
MCDS	0.62	(0.01)	(0.01)	0.06	0.73	(0.64)	1.44	(1.28)	3.68
MNRS	3.88	(0.42)	0.00	(0.27)	0.00	0.00	8.29	(7.81)	23.19
AGIQ	1.05	(0.05)	(0.02)	0.03	1.43	(1.06)	2.31	(2.72)	6.11
ANEW	0.62	(0.09)	0.00	(0.03)	0.00	0.00	1.33	(1.41)	3.38

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