ProShares Long Correlations

Etfs . USA . 
Etf . ProShares Long OnlineShort
CLIX Etf  USD 53.60  0.73  1.38%   
The current 90-days correlation between ProShares Long Onlin and ProShares Online Retail is 0.88 (i.e., Very poor diversification). The correlation of ProShares Long 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 Long Correlation With Market

Very weak diversification

The correlation between ProShares Long OnlineShort and DJI is 0.53 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Long OnlineShort and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ProShares Long OnlineShort. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with ProShares Etf

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Related Correlations Analysis

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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   
EBIZ
+ 0.99
IBUY
IBUY
+ 0.97
ONLN
EBIZ
+ 0.97
ONLN
WCLD
+ 0.94
IBUY
WCLD
+ 0.94
EBIZ
WCLD
+ 0.89
ONLN
  
High negative correlations   
EMTY
- 0.96
IBUY
EMTY
- 0.96
ONLN
EBIZ
- 0.95
EMTY
WCLD
- 0.89
EMTY

ProShares Long Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Long 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 Long'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.

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