ProShares Russell Correlations

SMDV Etf

USD 73.94 0.77 1.05%

The current 90-days correlation between ProShares Russell 2000 and NuShares ETF Trust is 0.4 (i.e., Very weak diversification). The correlation of ProShares Russell 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 Russell Correlation With Market

Very poor diversification

The correlation between ProShares Russell 2000 and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Russell 2000 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Russell 2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with ProShares Etf

0.96	VBR	Vanguard Small Cap	Pair Corr
0.95	IWN	iShares Russell 2000	Pair Corr
0.98	DFAT	Dimensional Targeted	Pair Corr
0.96	IJS	iShares SP Small	Pair Corr
0.96	SLYV	SPDR SP 600	Pair Corr
0.98	AVUV	Avantis Small Cap	Pair Corr
0.99	DES	WisdomTree SmallCap	Pair Corr
0.96	MDYV	SPDR SP 400	Pair Corr
0.88	CALF	Pacer Small Cap	Pair Corr
0.99	REGL	ProShares SP MidCap	Pair Corr
0.76	JNUG	Direxion Daily Junior	Pair Corr
0.7	GDXU	MicroSectors Gold Miners Upward Rally	Pair Corr
0.78	NUGT	Direxion Daily Gold	Pair Corr
0.82	GDMN	WisdomTree Efficient Gold Low Volatility	Pair Corr
0.85	DGP	DB Gold Double	Pair Corr
0.89	DOGG	First Trust Exchange	Pair Corr
0.84	EMES	Harbor ETF Trust	Pair Corr
0.83	NBCE	Neuberger Berman ETF	Pair Corr
0.87	CHPS	Xtrackers Semiconductor	Pair Corr
0.87	PCEM	Litman Gregory Funds	Pair Corr
0.95	GENW	Spinnaker ETF Series	Pair Corr
0.95	LVHI	Franklin International	Pair Corr
0.94	JEPI	JPMorgan Equity Premium	Pair Corr
0.86	NCPB	Nuveen Core Plus	Pair Corr
0.9	XFIX	Fm Investments Symbol Change	Pair Corr
0.81	XYLD	Global X SP	Pair Corr
0.92	CCNR	CoreCommodity Natural	Pair Corr
0.89	IRTR	iShares Trust	Pair Corr
0.92	ESML	iShares ESG Aware	Pair Corr
0.9	QLV	FlexShares Quality Low	Pair Corr
0.78	XAUG	FT Cboe Vest	Pair Corr
0.96	UDI	USCF ETF Trust	Pair Corr
0.87	LSEQ	Harbor ETF Trust	Pair Corr
0.83	UMAY	Innovator ETFs Trust	Pair Corr

Moving against ProShares Etf

0.37

BULZ

MicroSectors Solactive

Pair Corr

Related Correlations Analysis

	AVGE	EES	IGE	OSCV	JHSC	BKMC	FLTW	IYZ	CGIC	NUDM
AVGE		0.94	0.96	0.94	0.98	0.97	0.96	0.9	0.99	0.98	AVGE
EES	0.94		0.84	0.88	0.98	0.97	0.84	0.79	0.9	0.89	EES
IGE	0.96	0.84		0.96	0.93	0.91	0.97	0.9	0.97	0.95	IGE
OSCV	0.94	0.88	0.96		0.94	0.9	0.9	0.91	0.92	0.93	OSCV
JHSC	0.98	0.98	0.93	0.94		0.99	0.92	0.85	0.95	0.94	JHSC
BKMC	0.97	0.97	0.91	0.9	0.99		0.92	0.8	0.95	0.93	BKMC
FLTW	0.96	0.84	0.97	0.9	0.92	0.92		0.85	0.98	0.96	FLTW
IYZ	0.9	0.79	0.9	0.91	0.85	0.8	0.85		0.88	0.92	IYZ
CGIC	0.99	0.9	0.97	0.92	0.95	0.95	0.98	0.88		0.98	CGIC
NUDM	0.98	0.89	0.95	0.93	0.94	0.93	0.96	0.92	0.98		NUDM
	AVGE	EES	IGE	OSCV	JHSC	BKMC	FLTW	IYZ	CGIC	NUDM

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ProShares Russell Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Russell 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 Russell'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
AVGE	0.57	0.09	0.10	0.17	0.59	(0.61)	1.26	(1.38)	3.66
EES	0.81	0.07	0.08	0.12	0.71	(0.92)	2.49	(1.64)	4.79
IGE	1.00	0.29	0.20	0.49	1.03	(1.08)	2.09	(2.29)	5.70
OSCV	0.60	0.12	0.17	0.24	0.33	(0.71)	1.76	(0.94)	3.35
JHSC	0.74	0.09	0.12	0.15	0.63	(0.86)	2.20	(1.45)	4.27
BKMC	0.75	0.06	0.06	0.12	0.73	(0.79)	1.61	(1.59)	4.47
FLTW	0.98	0.20	0.13	0.33	1.13	(1.03)	1.95	(2.18)	5.05
IYZ	0.77	0.23	0.18	0.38	0.75	(0.82)	2.16	(1.55)	4.86
CGIC	0.63	0.13	0.14	0.23	0.58	(0.69)	1.31	(1.24)	3.51
NUDM	0.66	0.10	0.09	0.18	0.74	(0.65)	1.35	(1.41)	3.05

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