ProShares Global Correlations

PEX Etf

USD 25.03 0.32 1.30%

The current 90-days correlation between ProShares Global Listed and SmartETFs Asia Pacific is -0.03 (i.e., Good diversification). The correlation of ProShares Global 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 Global Correlation With Market

Poor diversification

The correlation between ProShares Global Listed 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 Global Listed and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Global Listed. 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

0.73	DRGN	Themes China Generative	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.61	MSFT	Microsoft Sell-off Trend	Pair Corr
0.68	DIS	Walt Disney	Pair Corr
0.64	HPQ	HP Inc	Pair Corr

Moving against ProShares Etf

0.59	ZBIO	Zenas BioPharma Common	Pair Corr
0.55	WNTR	YieldMax MSTR Short	Pair Corr
0.55	JUNE	JUNE Symbol Change	Pair Corr
0.57	CSCO	Cisco Systems	Pair Corr
0.49	JNJ	Johnson Johnson	Pair Corr
0.49	TRV	The Travelers Companies	Pair Corr
0.47	DD	Dupont De Nemours	Pair Corr
0.38	MRK	Merck Company	Pair Corr
0.36	MMM	3M Company	Pair Corr
0.34	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.31	CAT	Caterpillar	Pair Corr

Related Correlations Analysis

	ADIV	AQWA	VWID	QLVE	TIER	PSCU	EEMO	XTOC	SZNE	FPRO
ADIV		-0.04	0.31	0.77	0.33	0.25	0.43	0.32	-0.1	0.1	ADIV
AQWA	-0.04		-0.45	0.2	0.01	0.74	0.49	0.01	0.29	0.67	AQWA
VWID	0.31	-0.45		0.29	0.83	-0.27	-0.18	0.8	0.59	-0.21	VWID
QLVE	0.77	0.2	0.29		0.5	0.5	0.56	0.41	0.13	0.24	QLVE
TIER	0.33	0.01	0.83	0.5		0.12	0.13	0.91	0.76	0.06	TIER
PSCU	0.25	0.74	-0.27	0.5	0.12		0.42	0.19	0.1	0.49	PSCU
EEMO	0.43	0.49	-0.18	0.56	0.13	0.42		0.0	0.03	0.14	EEMO
XTOC	0.32	0.01	0.8	0.41	0.91	0.19	0.0		0.76	0.08	XTOC
SZNE	-0.1	0.29	0.59	0.13	0.76	0.1	0.03	0.76		0.31	SZNE
FPRO	0.1	0.67	-0.21	0.24	0.06	0.49	0.14	0.08	0.31		FPRO
	ADIV	AQWA	VWID	QLVE	TIER	PSCU	EEMO	XTOC	SZNE	FPRO

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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

XTOC	+ 0.91	TIER
TIER	+ 0.83	VWID
XTOC	+ 0.8	VWID
QLVE	+ 0.77	ADIV
SZNE	+ 0.76	TIER
SZNE	+ 0.76	XTOC

High negative correlations

VWID	- 0.45	AQWA
PSCU	- 0.27	VWID
FPRO	- 0.21	VWID
EEMO	- 0.18	VWID
SZNE	- 0.1	ADIV
AQWA	- 0.04	ADIV

ProShares Global Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Global 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 Global'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
ADIV	0.62	0.01	(0.06)	0.13	0.75	(0.66)	1.28	(1.03)	3.03
AQWA	0.59	(0.08)	0.00	(0.03)	0.00	0.00	1.34	(1.24)	3.56
VWID	0.52	0.10	0.06	0.56	0.46	(0.58)	1.03	(0.87)	2.67
QLVE	0.52	0.06	(0.01)	0.35	0.58	(0.60)	1.09	(0.95)	3.54
TIER	0.58	0.03	0.02	0.11	0.75	(0.59)	1.19	(1.18)	3.12
PSCU	0.77	(0.06)	(0.08)	0.00	0.88	(0.85)	1.65	(1.71)	4.07
EEMO	0.69	(0.02)	(0.07)	(0.02)	1.05	(0.64)	1.50	(1.40)	4.67
XTOC	0.42	(0.01)	(0.06)	0.05	0.57	(0.41)	0.92	(0.90)	2.55
SZNE	0.65	(0.01)	(0.03)	0.06	0.73	(0.67)	1.20	(1.41)	3.28
FPRO	0.58	(0.05)	0.00	(0.04)	0.00	0.00	1.37	(1.23)	4.17

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