ProShares High Correlations

HYHG Etf

USD 64.30 0.12 0.19%

The current 90-days correlation between ProShares High Yield and Simplify Interest Rate is 0.06 (i.e., Significant diversification). The correlation of ProShares High 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 High Correlation With Market

Very poor diversification

The correlation between ProShares High YieldInterest and DJI is 0.85 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares High YieldInterest 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 High YieldInterest. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with ProShares Etf

0.77	UCON	First Trust TCW	Pair Corr
0.79	RINF	ProShares Inflation	Pair Corr
0.79	AMAX	Starboard Investment	Pair Corr
0.93	HYTR	Northern Lights	Pair Corr
0.87	SIXD	AIM ETF Products	Pair Corr
0.84	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.7	ULE	ProShares Ultra Euro	Pair Corr
0.89	EDGI	Advisors Inner	Pair Corr
0.94	VGUS	Vanguard Ultra Short	Pair Corr
0.92	JANW	AIM ETF Products	Pair Corr
0.87	EWT	iShares MSCI Taiwan	Pair Corr
0.81	LITP	Sprott Lithium Miners	Pair Corr
0.9	JPIE	JP Morgan Exchange	Pair Corr
0.69	DOGG	First Trust Exchange	Pair Corr
0.89	XFIX	Fm Investments Symbol Change	Pair Corr
0.89	TOCT	Innovator Equity Defined	Pair Corr
0.73	GOOX	Etf Opportunities Trust	Pair Corr
0.7	EIPI	First Trust Exchange	Pair Corr
0.93	GAPR	First Trust Exchange	Pair Corr
0.9	FPXE	First Trust IPOX	Pair Corr
0.65	BBH	VanEck Biotech ETF	Pair Corr
0.89	GENW	Spinnaker ETF Series	Pair Corr
0.81	SCDV	ETF Series Solutions	Pair Corr
0.86	TLCI	Touchstone ETF Trust	Pair Corr
0.82	EMES	Harbor ETF Trust	Pair Corr
0.79	QLV	FlexShares Quality Low	Pair Corr
0.88	SPVM	Invesco SP 500	Pair Corr
0.77	LSEQ	Harbor ETF Trust	Pair Corr
0.83	UDI	USCF ETF Trust	Pair Corr
0.79	TSPX	Twin Oak Active	Pair Corr

Moving against ProShares Etf

0.82	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.81	VXX	iPath Series B Low Volatility	Pair Corr
0.43	PLTI	REX ETF Trust	Pair Corr

Related Correlations Analysis

	BSJU	SIHY	RISR	IGHG	FMUN	HYTR	BBBS	FIDI	UCRD	PFIX
BSJU		0.99	0.48	0.92	0.84	0.98	0.92	0.88	0.82	0.25	BSJU
SIHY	0.99		0.54	0.92	0.86	0.98	0.94	0.91	0.8	0.27	SIHY
RISR	0.48	0.54		0.47	0.46	0.5	0.57	0.57	0.3	0.51	RISR
IGHG	0.92	0.92	0.47		0.7	0.88	0.82	0.8	0.65	0.42	IGHG
FMUN	0.84	0.86	0.46	0.7		0.87	0.94	0.93	0.85	-0.06	FMUN
HYTR	0.98	0.98	0.5	0.88	0.87		0.94	0.92	0.85	0.18	HYTR
BBBS	0.92	0.94	0.57	0.82	0.94	0.94		0.95	0.89	0.14	BBBS
FIDI	0.88	0.91	0.57	0.8	0.93	0.92	0.95		0.82	0.12	FIDI
UCRD	0.82	0.8	0.3	0.65	0.85	0.85	0.89	0.82		-0.19	UCRD
PFIX	0.25	0.27	0.51	0.42	-0.06	0.18	0.14	0.12	-0.19		PFIX
	BSJU	SIHY	RISR	IGHG	FMUN	HYTR	BBBS	FIDI	UCRD	PFIX

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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

SIHY	+ 0.99	BSJU
HYTR	+ 0.98	BSJU
HYTR	+ 0.98	SIHY
FIDI	+ 0.95	BBBS
BBBS	+ 0.94	SIHY
BBBS	+ 0.94	FMUN

High negative correlations

PFIX	- 0.19	UCRD
PFIX	- 0.06	FMUN

ProShares High Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares High 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 High'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
BSJU	0.13	0.01	(0.22)	0.14	0.00	(0.15)	0.27	(0.23)	0.70
SIHY	0.12	0.02	(0.22)	0.21	0.00	(0.13)	0.29	(0.22)	0.84
RISR	0.29	0.00	(0.16)	0.08	0.38	(0.30)	0.62	(0.62)	2.09
IGHG	0.18	0.00	(0.22)	0.11	0.20	(0.18)	0.32	(0.34)	1.32
FMUN	0.09	0.02	(0.24)	0.75	0.00	(0.11)	0.24	(0.16)	0.70
HYTR	0.12	0.01	(0.24)	0.12	0.00	(0.14)	0.33	(0.23)	0.69
BBBS	0.06	0.01	(0.71)	1.70	0.00	(0.09)	0.15	(0.10)	0.33
FIDI	0.57	0.16	0.19	0.32	0.40	(0.64)	1.40	(1.02)	3.19
UCRD	0.17	0.02	(0.20)	0.30	0.05	(0.20)	0.42	(0.28)	0.88
PFIX	1.22	0.03	(0.04)	0.00	1.60	(1.16)	2.63	(2.39)	9.63

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