ProShares Hedge Correlations

HDG Etf

USD 52.39 0.23 0.44%

The current 90-days correlation between ProShares Hedge Repl and Jpmorgan Active Small is 0.62 (i.e., Poor 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

Poor diversification

The correlation between ProShares Hedge Replication and DJI is 0.74 (i.e., Poor 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 signals in american community survey.

Moving together with ProShares Etf

0.92	QAI	IQ Hedge Multi	Pair Corr
0.63	FLSP	Franklin Liberty Sys	Pair Corr
0.72	LALT	Invesco Multi Strategy	Pair Corr
0.74	HFND	Unlimited HFND Multi	Pair Corr
0.81	SIXD	AIM ETF Products	Pair Corr
0.82	GQI	Natixis ETF Trust	Pair Corr
0.84	FB	ProShares Trust ProShares	Pair Corr
0.98	VB	Vanguard Small Cap	Pair Corr
0.82	VCSH	Vanguard Short Term Sell-off Trend	Pair Corr
0.76	OGSP	Spinnaker ETF Series	Pair Corr
0.74	BSMZ	Invesco BulletShares 2035	Pair Corr
0.75	SGVT	Schwab Strategic Trust	Pair Corr
0.92	RYLG	Global X Russell	Pair Corr
0.72	SHLD	Global X Defense	Pair Corr
0.69	HEGD	Swan Hedged Equity	Pair Corr
0.96	SSXU	Day HaganNed Davis	Pair Corr
0.92	DIA	SPDR Dow Jones	Pair Corr
0.84	PAPI	Morgan Stanley ETF	Pair Corr
0.7	XLE	Energy Select Sector Sell-off Trend	Pair Corr
0.81	SKOR	FlexShares Credit	Pair Corr
0.91	VTI	Vanguard Total Stock	Pair Corr
0.71	VGSH	Vanguard Short Term	Pair Corr
0.76	PDBC	Invesco Optimum Yield	Pair Corr
0.79	VV	Vanguard Large Cap	Pair Corr
0.88	SOXL	Direxion Daily Semic Aggressive Push	Pair Corr
0.81	SRLN	SPDR Blackstone Senior Sell-off Trend	Pair Corr
0.86	FIVA	Fidelity International	Pair Corr
0.77	HDUS	Lattice Strategies Trust	Pair Corr
0.87	SCHD	Schwab Dividend Equity	Pair Corr
0.79	IAUM	iShares Gold Trust	Pair Corr
0.93	OMFS	Oppenheimer Russell 2000	Pair Corr
0.8	JPIE	JP Morgan Exchange Sell-off Trend	Pair Corr
0.87	DYLG	Global X Funds	Pair Corr

Moving against ProShares Etf

0.89	VXZ	iPath Series B Low Volatility	Pair Corr
0.87	VXX	iPath Series B Buyout Trend	Pair Corr
0.87	VIXY	ProShares VIX Short Buyout Trend	Pair Corr
0.87	VIXM	ProShares VIX Mid Low Volatility	Pair Corr
0.56	YCL	ProShares Ultra Yen	Pair Corr
0.54	FXY	Invesco CurrencyShares	Pair Corr

Related Correlations Analysis

	JPSV	RFLR	SHUS	EAOR	MCH	FTDS	NERD	SFYX	JUNT	GMET
JPSV		0.86	0.95	0.81	0.13	0.95	-0.67	0.9	0.89	0.84	JPSV
RFLR	0.86		0.91	0.86	0.41	0.84	-0.51	0.92	0.87	0.84	RFLR
SHUS	0.95	0.91		0.9	0.34	0.94	-0.54	0.97	0.91	0.9	SHUS
EAOR	0.81	0.86	0.9		0.56	0.84	-0.47	0.93	0.95	0.85	EAOR
MCH	0.13	0.41	0.34	0.56		0.26	0.09	0.44	0.34	0.41	MCH
FTDS	0.95	0.84	0.94	0.84	0.26		-0.76	0.91	0.92	0.93	FTDS
NERD	-0.67	-0.51	-0.54	-0.47	0.09	-0.76		-0.52	-0.68	-0.7	NERD
SFYX	0.9	0.92	0.97	0.93	0.44	0.91	-0.52		0.92	0.92	SFYX
JUNT	0.89	0.87	0.91	0.95	0.34	0.92	-0.68	0.92		0.88	JUNT
GMET	0.84	0.84	0.9	0.85	0.41	0.93	-0.7	0.92	0.88		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	SHUS
SHUS	+ 0.95	JPSV
FTDS	+ 0.95	JPSV
JUNT	+ 0.95	EAOR
FTDS	+ 0.94	SHUS
SFYX	+ 0.93	EAOR

High negative correlations

NERD	- 0.76	FTDS
GMET	- 0.7	NERD
JUNT	- 0.68	NERD
NERD	- 0.67	JPSV
NERD	- 0.54	SHUS
SFYX	- 0.52	NERD

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	0.69	0.03	0.02	0.10	0.76	(0.82)	1.95	(1.65)	5.24
RFLR	0.60	0.04	0.00	0.21	0.66	(0.63)	1.24	(1.38)	3.18
SHUS	0.51	0.00	(0.03)	0.06	0.57	(0.52)	0.99	(1.03)	2.75
EAOR	0.35	(0.01)	(0.08)	0.05	0.43	(0.35)	0.74	(0.79)	1.91
MCH	0.84	0.05	0.01	0.26	0.91	(0.87)	1.52	(1.56)	4.99
FTDS	0.67	0.06	0.06	0.14	0.64	(0.77)	1.68	(1.40)	3.61
NERD	0.73	(0.24)	0.00	(0.26)	0.00	0.00	1.69	(1.92)	4.37
SFYX	0.82	0.03	0.03	0.09	0.91	(0.86)	1.51	(1.69)	3.90
JUNT	0.22	0.00	(0.11)	0.08	0.25	(0.22)	0.48	(0.45)	1.41
GMET	1.55	0.32	0.18	0.35	1.57	(1.77)	2.90	(3.24)	6.93

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