ProShares Pet Correlations

PAWZ Etf

USD 56.64 0.85 1.52%

The current 90-days correlation between ProShares Pet Care and ProShares Online Retail is 0.63 (i.e., Poor diversification). The correlation of ProShares Pet 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 Pet Correlation With Market

Average diversification

The correlation between ProShares Pet Care and DJI is 0.19 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Pet Care and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Pet Care. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with ProShares Etf

0.67	ICLN	iShares Global Clean	Pair Corr
0.84	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.63	MCD	McDonalds Earnings Call This Week	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.73	JNJ	Johnson Johnson	Pair Corr
0.64	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.77	HPQ	HP Inc	Pair Corr
0.7	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against ProShares Etf

0.5	FBGX	UBS	Pair Corr
0.36	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.65	BA	Boeing	Pair Corr
0.36	CSCO	Cisco Systems	Pair Corr
0.33	AXP	American Express	Pair Corr

Related Correlations Analysis

	ONLN	ESPO	IPO	PEJ	CLOU
ONLN		0.77	0.54	0.85	0.84	ONLN
ESPO	0.77		0.36	0.87	0.95	ESPO
IPO	0.54	0.36		0.58	0.41	IPO
PEJ	0.85	0.87	0.58		0.93	PEJ
CLOU	0.84	0.95	0.41	0.93		CLOU
	ONLN	ESPO	IPO	PEJ	CLOU

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ProShares Pet Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Pet 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 Pet'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
ONLN	0.97	0.22	0.13	4.38	1.00	(1.12)	2.23	(1.76)	7.33
ESPO	1.10	0.29	0.13	(2.83)	1.21	(1.13)	2.16	(2.17)	10.29
IPO	1.24	0.09	0.01	(14.50)	1.69	(1.34)	2.32	(2.20)	8.44
PEJ	0.72	0.22	0.12	8.54	0.99	(0.78)	1.50	(1.20)	8.44
CLOU	1.15	0.34	0.19	7.63	1.09	(1.35)	2.71	(2.08)	8.82

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