ProShares Correlations

TDV Etf

USD 88.13 0.04 0.05%

The correlation of ProShares 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 Correlation With Market

Almost no diversification

The correlation between ProShares SP Technology and DJI is 0.9 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares SP Technology 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 SP Technology. 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

0.87	SMH	VanEck Semiconductor ETF	Pair Corr
0.86	SOXX	iShares Semiconductor ETF	Pair Corr
0.68	AGQ	ProShares Ultra Silver	Pair Corr
0.73	JNUG	Direxion Daily Junior	Pair Corr
0.71	NUGT	Direxion Daily Gold	Pair Corr
0.69	GGLL	Direxion Daily GOOGL	Pair Corr
0.71	RDIV	Invesco SP Ultra	Pair Corr
0.8	AHYB	American Century ETF	Pair Corr
0.76	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.79	BA	Boeing	Pair Corr
0.7	INTC	Intel	Pair Corr
0.65	DD	Dupont De Nemours Earnings Call This Week	Pair Corr

Moving against ProShares Etf

0.39	FNGO	MicroSectors FANG Index	Pair Corr
0.5	T	ATT Inc Aggressive Push	Pair Corr

Related Correlations Analysis

	NBCT	BRRAY	MSTSX	ABHYX	LBHIX	RRTLX	XTWO	KNF	KLKNF	GBEN
NBCT		0.6	0.55	0.57	0.58	0.61	0.62	0.2	0.69	0.0	NBCT
BRRAY	0.6		0.88	0.84	0.69	0.87	0.77	0.3	0.77	0.0	BRRAY
MSTSX	0.55	0.88		0.68	0.77	0.97	0.81	0.29	0.85	0.0	MSTSX
ABHYX	0.57	0.84	0.68		0.6	0.71	0.62	0.38	0.54	0.0	ABHYX
LBHIX	0.58	0.69	0.77	0.6		0.83	0.88	0.61	0.8	0.0	LBHIX
RRTLX	0.61	0.87	0.97	0.71	0.83		0.86	0.36	0.89	0.0	RRTLX
XTWO	0.62	0.77	0.81	0.62	0.88	0.86		0.51	0.85	0.0	XTWO
KNF	0.2	0.3	0.29	0.38	0.61	0.36	0.51		0.31	0.0	KNF
KLKNF	0.69	0.77	0.85	0.54	0.8	0.89	0.85	0.31		0.0	KLKNF
GBEN	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		GBEN
	NBCT	BRRAY	MSTSX	ABHYX	LBHIX	RRTLX	XTWO	KNF	KLKNF	GBEN

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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

RRTLX	+ 0.97	MSTSX
KLKNF	+ 0.89	RRTLX
MSTSX	+ 0.88	BRRAY
XTWO	+ 0.88	LBHIX
RRTLX	+ 0.87	BRRAY
XTWO	+ 0.86	RRTLX

High negative correlations

GBEN	- 0.0	KLKNF
GBEN	- 0.0	KNF
GBEN	- 0.0	XTWO
GBEN	- 0.0	RRTLX
GBEN	- 0.0	LBHIX
GBEN	- 0.0	ABHYX

ProShares Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares 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' 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
NBCT	0.71	0.19	0.15	3.34	0.60	(0.86)	1.46	(1.37)	3.82
BRRAY	5.76	2.41	0.19	(0.83)	3.11	(29.13)	17.76	(10.94)	120.98
MSTSX	0.64	0.15	0.15	0.69	0.43	(0.81)	0.93	(1.09)	12.28
ABHYX	0.09	0.01	(0.18)	0.59	0.00	(0.19)	0.23	(0.12)	0.92
LBHIX	0.17	0.06	0.06	0.57	0.00	(0.33)	0.24	(0.23)	2.38
RRTLX	0.26	0.04	0.02	0.18	0.13	(0.33)	0.57	(0.49)	3.30
XTWO	0.05	0.00	(0.84)	0.97	0.00	(0.06)	0.10	(0.08)	0.27
KNF	2.11	0.30	0.14	0.22	2.25	(2.43)	5.34	(3.57)	16.62
KLKNF	2.40	1.35	0.00	(0.61)	0.00	0.00	3.58	0.00	49.18
GBEN	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00

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