ProShares MSCI Correlations

Etfs . USA . 
Etf . ProShares MSCI Europe
EUDV Etf  USD 47.75  0.06  0.13%   
The current 90-days correlation between ProShares MSCI Europe and WisdomTree Europe Hedged is 0.75 (i.e., Poor diversification). The correlation of ProShares MSCI 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 MSCI Correlation With Market

Very weak diversification

The correlation between ProShares MSCI Europe and DJI is 0.44 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares MSCI Europe and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares MSCI Europe. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with ProShares Etf

  0.96VGK Vanguard FTSE Europe Sell-off TrendPairCorr
  0.94EZU iShares MSCI EurozonePairCorr
  0.96BBEU JPMorgan BetaBuildersPairCorr
  0.96IEUR iShares Core MSCIPairCorr
  0.92FEZ SPDR EURO STOXX Sell-off TrendPairCorr
  0.96IEV iShares Europe ETFPairCorr
  0.65HEDJ WisdomTree Europe HedgedPairCorr
  0.75DBEU Xtrackers MSCI EuropePairCorr
  0.87FEP First Trust EuropePairCorr
  0.94KO Coca Cola Aggressive PushPairCorr
  0.86PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr

Moving against ProShares Etf

  0.84YCS ProShares UltraShort Yen Potential GrowthPairCorr
  0.82TBT ProShares UltraShortPairCorr
  0.8ATMP Barclays ETN Select Low VolatilityPairCorr
  0.67SGG Barclays CapitalPairCorr
  0.63DIG ProShares Ultra OilPairCorr
  0.61AMZA InfraCap MLP ETFPairCorr
  0.49USD ProShares Ultra Semi Potential GrowthPairCorr
  0.48MLPR ETRACS Quarterly PayPairCorr
  0.86BAC Bank of America Aggressive PushPairCorr
  0.78CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.77DIS Walt Disney Aggressive PushPairCorr
  0.7CSCO Cisco SystemsPairCorr
  0.62TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.59AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.58AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.53T ATT Inc Aggressive PushPairCorr
  0.49HPQ HP IncPairCorr
  0.48INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.38XOM Exxon Mobil Corp Aggressive PushPairCorr

Related Correlations Analysis

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ProShares MSCI Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares MSCI 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 MSCI'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.

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