ProShares Nasdaq Correlations

QB Etf

42.55 0.03 0.07%

The current 90-days correlation between ProShares Nasdaq 100 and FT Cboe Vest is 0.84 (i.e., Very 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 0.59 (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

0.69	INOV	Innovator ETFs Trust	Pair Corr
0.84	BUFR	First Trust Cboe	Pair Corr
0.85	BUFD	FT Cboe Vest	Pair Corr
0.79	PSEP	Innovator SP 500	Pair Corr
0.84	PJAN	Innovator SP 500	Pair Corr
0.8	PJUL	Innovator SP 500	Pair Corr
0.8	PAUG	Innovator Equity Power	Pair Corr
0.84	DNOV	FT Cboe Vest	Pair Corr
0.77	PMAY	Innovator SP 500	Pair Corr
0.61	ACII	Innovator ETFs Trust	Pair Corr
0.74	ITDD	iShares Trust	Pair Corr
0.76	CPST	Calamos ETF Trust	Pair Corr
0.75	KO	Coca Cola	Pair Corr
0.82	MMM	3M Company	Pair Corr
0.77	DD	Dupont De Nemours	Pair Corr
0.8	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.68	MRK	Merck Company Aggressive Push	Pair Corr
0.69	AA	Alcoa Corp Sell-off Trend	Pair Corr
0.64	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.75	BAC	Bank of America	Pair Corr
0.63	INTC	Intel Sell-off Trend	Pair Corr

Moving against ProShares Etf

0.57	PG	Procter Gamble	Pair Corr
0.65	T	ATT Inc	Pair Corr
0.5	BA	Boeing	Pair Corr
0.45	HPQ	HP Inc	Pair Corr
0.44	MSFT	Microsoft	Pair Corr
0.43	VZ	Verizon Communications Sell-off Trend	Pair Corr

Related Correlations Analysis

	FSEP	FJUL	FJUN	FNOV	FOCT	FMAR
FSEP		0.99	0.98	0.88	0.94	0.92	FSEP
FJUL	0.99		0.99	0.91	0.94	0.95	FJUL
FJUN	0.98	0.99		0.94	0.94	0.98	FJUN
FNOV	0.88	0.91	0.94		0.91	0.97	FNOV
FOCT	0.94	0.94	0.94	0.91		0.91	FOCT
FMAR	0.92	0.95	0.98	0.97	0.91		FMAR
	FSEP	FJUL	FJUN	FNOV	FOCT	FMAR

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FSEP	0.34	(0.01)	(0.06)	0.05	0.48	(0.32)	0.69	(0.74)	2.06
FJUL	0.31	0.00	(0.06)	0.06	0.40	(0.31)	0.55	(0.58)	1.90
FJUN	0.24	0.00	(0.09)	0.07	0.29	(0.24)	0.54	(0.53)	1.51
FNOV	0.32	0.02	(0.01)	0.11	0.38	(0.34)	0.85	(0.54)	2.11
FOCT	0.36	0.01	(0.02)	0.08	0.42	(0.37)	0.87	(0.64)	2.30
FMAR	0.19	0.01	(0.11)	0.09	0.20	(0.20)	0.52	(0.34)	1.20

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