ProShares Hedge Correlations

HDG Etf

USD 52.59 0.17 0.32%

The current 90-days correlation between ProShares Hedge Repl and VanEck Vectors ETF is 0.43 (i.e., Very weak diversification). The correlation of ProShares Hedge 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.

ProShares Hedge Correlation With Market

Very weak diversification

The correlation between ProShares Hedge Replication and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Hedge Replication and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ProShares Hedge Replication. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving together with ProShares Etf

0.99	QAI	IQ Hedge Multi	Pair Corr
0.73	LALT	Invesco Multi Strategy	Pair Corr
0.78	HFND	Unlimited HFND Multi	Pair Corr
0.92	REMG	Emerging Markets Active	Pair Corr
0.64	YMAR	First Trust Exchange	Pair Corr
0.88	AHYB	American Century ETF	Pair Corr
0.78	SGVT	Schwab Strategic Trust	Pair Corr
0.89	JPHY	JP Morgan Exchange	Pair Corr
0.97	VRTIX	Vanguard Russell 2000	Pair Corr
0.92	IHYF	Invesco High Yield	Pair Corr
0.81	RAAA	Advisor Managed Port	Pair Corr
0.62	IHDG	WisdomTree International	Pair Corr
0.86	GREK	Global X MSCI	Pair Corr
0.65	IAUM	iShares Gold Trust	Pair Corr
0.9	GMUN	Goldman Sachs Community	Pair Corr
0.74	VDE	Vanguard Energy Index	Pair Corr
0.88	TPOR	Direxion Daily Trans	Pair Corr
0.88	HYP	Golden Eagle Dynamic	Pair Corr
0.65	POW	Tidal Trust III	Pair Corr
0.95	FTBI	First Trust Exchange	Pair Corr
0.97	RHTX	Starboard Investment	Pair Corr
0.9	BSJT	Invesco BulletShares 2029	Pair Corr
0.91	TPHD	Timothy Plan High	Pair Corr

Moving against ProShares Etf

0.66	VXZ	iPath Series B	Pair Corr
0.61	VIXM	ProShares VIX Mid	Pair Corr
0.56	VXX	iPath Series B	Pair Corr
0.56	VIXY	ProShares VIX Short	Pair Corr
0.4	ENAV	Collaborative Investment Trending	Pair Corr

Related Correlations Analysis

	JPSV	RFLR	SHUS	EAOR	MCH	FTDS	NERD	SFYX	JUNT	GMET
JPSV		0.88	0.96	0.81	0.21	0.95	-0.71	0.87	0.89	0.87	JPSV
RFLR	0.88		0.93	0.87	0.44	0.86	-0.5	0.97	0.88	0.82	RFLR
SHUS	0.96	0.93		0.92	0.43	0.96	-0.62	0.95	0.95	0.92	SHUS
EAOR	0.81	0.87	0.92		0.65	0.83	-0.41	0.91	0.95	0.86	EAOR
MCH	0.21	0.44	0.43	0.65		0.32	0.19	0.54	0.42	0.46	MCH
FTDS	0.95	0.86	0.96	0.83	0.32		-0.77	0.88	0.91	0.95	FTDS
NERD	-0.71	-0.5	-0.62	-0.41	0.19	-0.77		-0.49	-0.63	-0.74	NERD
SFYX	0.87	0.97	0.95	0.91	0.54	0.88	-0.49		0.9	0.88	SFYX
JUNT	0.89	0.88	0.95	0.95	0.42	0.91	-0.63	0.9		0.9	JUNT
GMET	0.87	0.82	0.92	0.86	0.46	0.95	-0.74	0.88	0.9		GMET
	JPSV	RFLR	SHUS	EAOR	MCH	FTDS	NERD	SFYX	JUNT	GMET

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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

SFYX	+ 0.97	RFLR
SHUS	+ 0.96	JPSV
FTDS	+ 0.96	SHUS
FTDS	+ 0.95	JPSV
SFYX	+ 0.95	SHUS
JUNT	+ 0.95	SHUS

High negative correlations

NERD	- 0.77	FTDS
GMET	- 0.74	NERD
NERD	- 0.71	JPSV
JUNT	- 0.63	NERD
NERD	- 0.62	SHUS
NERD	- 0.5	RFLR

ProShares Hedge Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Hedge 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 Hedge'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
JPSV	0.71	0.04	0.03	0.15	0.69	(0.93)	2.07	(1.30)	5.24
RFLR	0.59	0.01	(0.03)	0.10	0.64	(0.65)	1.24	(1.38)	2.99
SHUS	0.53	(0.01)	(0.05)	0.08	0.56	(0.56)	1.27	(1.03)	2.86
EAOR	0.36	(0.02)	(0.12)	0.05	0.45	(0.35)	0.74	(0.79)	2.17
MCH	0.84	(0.06)	(0.09)	0.00	1.05	(0.81)	1.52	(1.65)	5.20
FTDS	0.67	0.06	0.06	0.18	0.56	(0.77)	2.01	(1.25)	3.67
NERD	0.71	(0.26)	0.00	(0.36)	0.00	0.00	1.69	(1.84)	3.87
SFYX	0.81	0.02	0.02	0.11	0.88	(0.86)	1.51	(1.69)	3.76
JUNT	0.22	0.00	(0.19)	0.08	0.26	(0.22)	0.48	(0.45)	1.70
GMET	1.46	0.41	0.26	0.48	1.24	(1.77)	2.79	(2.67)	6.62

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