ProShares Hedge Correlations

HDG Etf

USD 52.69 0.01 0.02%

The current 90-days correlation between ProShares Hedge Repl and VanEck Vectors ETF is -0.09 (i.e., Good 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

Almost no diversification

The correlation between ProShares Hedge Replication and DJI is 0.94 (i.e., Almost no 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 small area income & poverty estimates.

Moving together with ProShares Etf

0.96	QAI	IQ Hedge Multi	Pair Corr
0.85	FLSP	Franklin Liberty Sys	Pair Corr
0.91	LALT	Invesco Multi Strategy	Pair Corr
0.92	HFND	Unlimited HFND Multi	Pair Corr
0.68	UPRO	ProShares UltraPro SP500	Pair Corr
0.65	QTJA	Innovator ETFs Trust	Pair Corr
0.67	QTOC	Innovator ETFs Trust	Pair Corr
0.88	XTOC	Innovator ETFs Trust	Pair Corr
0.94	QTAP	Innovator Growth 100	Pair Corr
0.89	XTJA	Innovator ETFs Trust	Pair Corr
0.94	XTAP	Innovator Equity Acc	Pair Corr
0.86	XTWO	Bondbloxx ETF Trust	Pair Corr
0.77	EIPI	First Trust Exchange	Pair Corr
0.62	PJP	Invesco Dynamic Phar	Pair Corr
0.84	QCJA	FT Vest Nasdaq	Pair Corr
0.89	QLV	FlexShares Quality Low	Pair Corr
0.87	RAUS	RACWI ETF	Pair Corr
0.91	EMES	Harbor ETF Trust	Pair Corr
0.94	TAPR	Innovator Equity Defined	Pair Corr
0.9	VBK	Vanguard Small Cap	Pair Corr
0.93	FIXP	Tidal ETF Trust	Pair Corr
0.84	RBLD	First Trust Exchange	Pair Corr
0.86	LSEQ	Harbor ETF Trust	Pair Corr
0.8	PSCC	Invesco SP SmallCap	Pair Corr
0.94	DEXC	Dimensional ETF Trust	Pair Corr
0.8	XRT	SPDR SP Retail	Pair Corr
0.94	GENW	Spinnaker ETF Series	Pair Corr
0.95	ACLO	TCW ETF Trust	Pair Corr
0.79	XBI	SPDR SP Biotech	Pair Corr
0.96	SMLF	iShares MSCI USA	Pair Corr
0.97	SCZ	iShares MSCI EAFE	Pair Corr
0.92	JPIE	JP Morgan Exchange	Pair Corr
0.9	PMIO	PGIM ETF Trust	Pair Corr
0.85	VTHR	Vanguard Russell 3000	Pair Corr
0.8	HCOW	Amplify Cash Flow	Pair Corr
0.9	KRE	SPDR SP Regional	Pair Corr
0.94	TOCT	Innovator Equity Defined	Pair Corr
0.74	IYR	iShares Real Estate	Pair Corr

Related Correlations Analysis

	JPSV	RFLR	SHUS	EAOR	MCH	FTDS	NERD	SFYX	JUNT	GMET
JPSV		0.92	0.93	0.85	0.53	0.96	-0.8	0.88	0.89	0.86	JPSV
RFLR	0.92		0.95	0.93	0.64	0.9	-0.69	0.97	0.93	0.87	RFLR
SHUS	0.93	0.95		0.94	0.61	0.96	-0.8	0.92	0.88	0.9	SHUS
EAOR	0.85	0.93	0.94		0.75	0.88	-0.64	0.94	0.9	0.9	EAOR
MCH	0.53	0.64	0.61	0.75		0.58	-0.24	0.74	0.7	0.67	MCH
FTDS	0.96	0.9	0.96	0.88	0.58		-0.87	0.85	0.85	0.9	FTDS
NERD	-0.8	-0.69	-0.8	-0.64	-0.24	-0.87		-0.59	-0.64	-0.74	NERD
SFYX	0.88	0.97	0.92	0.94	0.74	0.85	-0.59		0.93	0.87	SFYX
JUNT	0.89	0.93	0.88	0.9	0.7	0.85	-0.64	0.93		0.85	JUNT
GMET	0.86	0.87	0.9	0.9	0.67	0.9	-0.74	0.87	0.85		GMET
	JPSV	RFLR	SHUS	EAOR	MCH	FTDS	NERD	SFYX	JUNT	GMET

Please upgrade your account to get full access to Macroaxis premium features

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
FTDS	+ 0.96	JPSV
FTDS	+ 0.96	SHUS
SHUS	+ 0.95	RFLR
EAOR	+ 0.94	SHUS
SFYX	+ 0.94	EAOR

High negative correlations

NERD	- 0.87	FTDS
NERD	- 0.8	SHUS
NERD	- 0.8	JPSV
GMET	- 0.74	NERD
NERD	- 0.69	RFLR
JUNT	- 0.64	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	0.75	0.10	0.11	0.16	0.68	(0.96)	2.07	(1.30)	5.24
RFLR	0.58	0.07	0.04	0.52	0.61	(0.62)	1.26	(1.34)	3.67
SHUS	0.50	0.11	0.11	6.02	0.43	(0.56)	1.29	(1.03)	2.86
EAOR	0.36	0.03	(0.02)	1.18	0.42	(0.36)	0.74	(0.79)	2.15
MCH	0.82	(0.05)	0.00	(0.03)	0.00	0.00	1.52	(1.56)	5.61
FTDS	0.68	0.14	0.18	0.22	0.49	(0.79)	2.05	(1.27)	3.70
NERD	0.98	(0.29)	0.00	5.00	0.00	0.00	1.78	(3.00)	6.41
SFYX	0.81	0.09	0.05	0.76	0.86	(0.86)	1.66	(1.69)	5.11
JUNT	0.22	0.01	(0.06)	0.06	0.27	(0.22)	0.48	(0.60)	1.70
GMET	1.79	0.58	0.18	(1.58)	2.43	(2.03)	4.29	(3.28)	14.40

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC