Correlation Between ProShares Big and WisdomTree India
Can any of the company-specific risk be diversified away by investing in both ProShares Big and WisdomTree India 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 ProShares Big and WisdomTree India into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ProShares Big Data and WisdomTree India Hedged, you can compare the effects of market volatilities on ProShares Big and WisdomTree India 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 ProShares Big with a short position of WisdomTree India. Check out your portfolio center. Please also check ongoing floating volatility patterns of ProShares Big and WisdomTree India.
Diversification Opportunities for ProShares Big and WisdomTree India
0.39 | Correlation Coefficient |
Weak diversification
The 3 months correlation between ProShares and WisdomTree is 0.39. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Big Data and WisdomTree India Hedged in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on WisdomTree India Hedged and ProShares Big 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 ProShares Big Data are associated (or correlated) with WisdomTree India. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of WisdomTree India Hedged has no effect on the direction of ProShares Big i.e., ProShares Big and WisdomTree India go up and down completely randomly.
Pair Corralation between ProShares Big and WisdomTree India
Considering the 90-day investment horizon ProShares Big Data is expected to under-perform the WisdomTree India. In addition to that, ProShares Big is 2.7 times more volatile than WisdomTree India Hedged. It trades about -0.19 of its total potential returns per unit of risk. WisdomTree India Hedged is currently generating about -0.03 per unit of volatility. If you would invest 4,166 in WisdomTree India Hedged on November 4, 2025 and sell it today you would lose (44.00) from holding WisdomTree India Hedged or give up 1.06% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Very Weak |
| Accuracy | 98.39% |
| Values | Daily Returns |
ProShares Big Data vs. WisdomTree India Hedged
Performance |
| Timeline |
| ProShares Big Data |
| WisdomTree India Hedged |
ProShares Big and WisdomTree India Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ProShares Big and WisdomTree India
The main advantage of trading using opposite ProShares Big and WisdomTree India positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ProShares Big position performs unexpectedly, WisdomTree India 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 WisdomTree India will offset losses from the drop in WisdomTree India's long position.| ProShares Big vs. ProShares Ultra Consumer | ProShares Big vs. PGIM Nasdaq 100 Buffer | ProShares Big vs. ProShares On Demand ETF | ProShares Big vs. ProShares Ultra MSCI |
| WisdomTree India vs. Nuveen Sustainable Core | WisdomTree India vs. MicroSectors Solactive FANG | WisdomTree India vs. iShares ESG Aware | WisdomTree India vs. Invesco ESG NASDAQ |
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 Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
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