ProShares Nasdaq Correlations

Etfs . USA . 
Etf . ProShares Nasdaq 100 Dynamic
QB Etf   43.41  0.33  0.77%   
The current 90-days correlation between ProShares Nasdaq 100 and First Trust Exchange Traded is 0.77 (i.e., Poor diversification). The correlation of ProShares Nasdaq 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 Nasdaq Correlation With Market

Very weak diversification

The correlation between ProShares Nasdaq 100 Dynamic and DJI is 0.57 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Nasdaq 100 Dynamic 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 Nasdaq 100 Dynamic. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with ProShares Etf

  0.75INOV Innovator ETFs TrustPairCorr
  0.73BUFR First Trust CboePairCorr
  0.72BUFD FT Cboe VestPairCorr
  0.66PJAN Innovator SP 500PairCorr
  0.63PJUL Innovator SP 500PairCorr
  0.61PAUG Innovator Equity PowerPairCorr
  0.76PMAY Innovator SP 500PairCorr
  0.76ACII Innovator ETFs TrustPairCorr
  0.8KORU Direxion Daily SouthPairCorr
  0.72MUU Direxion Daily MU Buyout TrendPairCorr
  0.71MULL GraniteShares 2x LongPairCorr
  0.69GDXU MicroSectors Gold MinersPairCorr
  0.66FNGD MicroSectors FANG IndexPairCorr
  0.74JNUG Direxion Daily JuniorPairCorr
  0.76NUGT Direxion Daily GoldPairCorr
  0.76BWET ETF Managers GroupPairCorr
  0.71SHNY Microsectors GoldPairCorr
  0.68IJS iShares SP SmallPairCorr
  0.81JEPI JPMorgan Equity PremiumPairCorr
  0.67FNK First Trust MidPairCorr
  0.78TAXT Northern Trust TaxPairCorr
  0.8FEM First Trust EmergingPairCorr
  0.76DXJ WisdomTree Japan HedgedPairCorr
  0.71FNDA Schwab Fundamental SmallPairCorr
  0.75FTCS First Trust CapitalPairCorr
  0.76DFIC Dimensional InternationalPairCorr
  0.8BSMS Invesco BulletShares 2028PairCorr
  0.68URA Global X UraniumPairCorr
  0.78AVDS Avantis InternationalPairCorr
  0.78HEEM iShares Currency HedgedPairCorr
  0.8GCAL Goldman Sachs ETFPairCorr
  0.74VYMI Vanguard InternationalPairCorr
  0.75IGEB iShares Edge InvestmentPairCorr
  0.78QTAP Innovator Growth 100PairCorr
  0.78UEVM VictoryShares EmergingPairCorr

Moving against ProShares Etf

  0.52ENTR EntrepreneurSharesPairCorr

Related Correlations Analysis


ProShares Nasdaq Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Nasdaq 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 Nasdaq'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.

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