Correlation Between WisdomTree Emerging and ProShares Ultra
Can any of the company-specific risk be diversified away by investing in both WisdomTree Emerging and ProShares Ultra at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining WisdomTree Emerging and ProShares Ultra into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WisdomTree Emerging Currency and ProShares Ultra Consumer, you can compare the effects of market volatilities on WisdomTree Emerging and ProShares Ultra and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in WisdomTree Emerging with a short position of ProShares Ultra. Check out your portfolio center. Please also check ongoing floating volatility patterns of WisdomTree Emerging and ProShares Ultra.
Diversification Opportunities for WisdomTree Emerging and ProShares Ultra
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between WisdomTree and ProShares is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree Emerging Currency and ProShares Ultra Consumer in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ProShares Ultra Consumer and WisdomTree Emerging is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on WisdomTree Emerging Currency are associated (or correlated) with ProShares Ultra. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ProShares Ultra Consumer has no effect on the direction of WisdomTree Emerging i.e., WisdomTree Emerging and ProShares Ultra go up and down completely randomly.
Pair Corralation between WisdomTree Emerging and ProShares Ultra
Considering the 90-day investment horizon WisdomTree Emerging Currency is expected to generate 0.25 times more return on investment than ProShares Ultra. However, WisdomTree Emerging Currency is 3.98 times less risky than ProShares Ultra. It trades about 0.09 of its potential returns per unit of risk. ProShares Ultra Consumer is currently generating about 0.0 per unit of risk. If you would invest 1,671 in WisdomTree Emerging Currency on October 4, 2025 and sell it today you would earn a total of 227.49 from holding WisdomTree Emerging Currency or generate 13.61% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
WisdomTree Emerging Currency vs. ProShares Ultra Consumer
Performance |
| Timeline |
| WisdomTree Emerging |
| ProShares Ultra Consumer |
WisdomTree Emerging and ProShares Ultra Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WisdomTree Emerging and ProShares Ultra
The main advantage of trading using opposite WisdomTree Emerging and ProShares Ultra positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WisdomTree Emerging position performs unexpectedly, ProShares Ultra can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in ProShares Ultra will offset losses from the drop in ProShares Ultra's long position.| WisdomTree Emerging vs. US Global Sea | WisdomTree Emerging vs. Spinnaker ETF Series | WisdomTree Emerging vs. ProShares Equities for | WisdomTree Emerging vs. Tidal ETF Trust |
| ProShares Ultra vs. Direxion Daily FTSE | ProShares Ultra vs. iShares Emerging Markets | ProShares Ultra vs. Global X SuperDividend | ProShares Ultra vs. iShares Energy ETF |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Financial Widgets module to easily integrated Macroaxis content with over 30 different plug-and-play financial widgets.
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