Correlation Between WisdomTree BioRevolution and ProShares Big
Can any of the company-specific risk be diversified away by investing in both WisdomTree BioRevolution and ProShares Big 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 BioRevolution and ProShares Big into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between WisdomTree BioRevolution and ProShares Big Data, you can compare the effects of market volatilities on WisdomTree BioRevolution and ProShares Big 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 BioRevolution with a short position of ProShares Big. Check out your portfolio center. Please also check ongoing floating volatility patterns of WisdomTree BioRevolution and ProShares Big.
Diversification Opportunities for WisdomTree BioRevolution and ProShares Big
-0.48 | Correlation Coefficient |
Very good diversification
The 3 months correlation between WisdomTree and ProShares is -0.48. Overlapping area represents the amount of risk that can be diversified away by holding WisdomTree BioRevolution and ProShares Big Data in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ProShares Big Data and WisdomTree BioRevolution 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 BioRevolution are associated (or correlated) with ProShares Big. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ProShares Big Data has no effect on the direction of WisdomTree BioRevolution i.e., WisdomTree BioRevolution and ProShares Big go up and down completely randomly.
Pair Corralation between WisdomTree BioRevolution and ProShares Big
Given the investment horizon of 90 days WisdomTree BioRevolution is expected to generate 0.79 times more return on investment than ProShares Big. However, WisdomTree BioRevolution is 1.26 times less risky than ProShares Big. It trades about 0.16 of its potential returns per unit of risk. ProShares Big Data is currently generating about -0.11 per unit of risk. If you would invest 1,587 in WisdomTree BioRevolution on November 21, 2025 and sell it today you would earn a total of 218.00 from holding WisdomTree BioRevolution or generate 13.74% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
WisdomTree BioRevolution vs. ProShares Big Data
Performance |
| Timeline |
| WisdomTree BioRevolution |
| ProShares Big Data |
WisdomTree BioRevolution and ProShares Big Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with WisdomTree BioRevolution and ProShares Big
The main advantage of trading using opposite WisdomTree BioRevolution and ProShares Big positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if WisdomTree BioRevolution position performs unexpectedly, ProShares Big 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 Big will offset losses from the drop in ProShares Big's long position.| WisdomTree BioRevolution vs. Global X SP | WisdomTree BioRevolution vs. Themes Cash Flow | WisdomTree BioRevolution vs. ETF Managers Group | WisdomTree BioRevolution vs. VanEck ETF Trust |
| 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 |
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 Watchlist Optimization module to optimize watchlists to build efficient portfolios or rebalance existing positions based on the mean-variance optimization algorithm.
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