ProShares Large Correlations

Etfs . USA . 
Etf . ProShares Large Cap
CSM Etf  USD 71.41  0.49  0.69%   
The current 90-days correlation between ProShares Large Cap and ProShares Hedge Replication is 0.85 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Large moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Large Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Large Correlation With Market

Almost no diversification

The correlation between ProShares Large Cap and DJI is 0.91 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Large Cap 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 Large Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with ProShares Etf

  1.0VTI Vanguard Total Stock Sell-off TrendPairCorr
  1.0SPY SPDR SP 500 Sell-off TrendPairCorr
  1.0IVV iShares Core SP Sell-off TrendPairCorr
  0.99VIG Vanguard DividendPairCorr
  1.0VV Vanguard Large CapPairCorr
  0.99RSP Invesco SP 500 Sell-off TrendPairCorr
  1.0IWB iShares Russell 1000PairCorr
  1.0ESGU iShares ESG AwarePairCorr
  1.0DFAC Dimensional Core Equity Sell-off TrendPairCorr
  1.0SPLG SPDR Portfolio SP Sell-off TrendPairCorr
  0.98VTV Vanguard Value IndexPairCorr
  1.0VUG Vanguard Growth IndexPairCorr
  1.0VO Vanguard Mid CapPairCorr
  0.96VEA Vanguard FTSE DevelopedPairCorr
  0.99VB Vanguard Small CapPairCorr
  0.89VABS Virtus Newfleet ABSMBSPairCorr
  0.84KGRN KraneShares MSCI ChinaPairCorr
  0.68EUSB iShares TrustPairCorr
  1.0BUFD FT Cboe VestPairCorr
  0.97DIS Walt DisneyPairCorr
  0.93AA Alcoa CorpPairCorr
  0.93MMM 3M CompanyPairCorr
  0.81CVX Chevron CorpPairCorr
  0.85PFE Pfizer IncPairCorr
  0.91DD Dupont De NemoursPairCorr
  0.97CSCO Cisco SystemsPairCorr
  0.98BAC Bank of AmericaPairCorr
  0.97CAT CaterpillarPairCorr
  0.97JPM JPMorgan ChasePairCorr
  0.77INTC Intel Earnings Call This WeekPairCorr

Moving against ProShares Etf

  0.64MCD McDonaldsPairCorr
  0.5PG Procter GamblePairCorr
  0.36VZ Verizon Communications Earnings Call TomorrowPairCorr

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   
QAI
+ 0.99
HDG
EFO
+ 0.96
HDG
UCC
+ 0.96
HDG
QAI
+ 0.96
EFO
QAI
+ 0.95
UCC
UCC
+ 0.91
EFO
  
High negative correlations   
QAI
- 0.18
UGE
UGE
- 0.17
HDG
UCC
- 0.11
UGE
UGE
- 0.04
EFO

ProShares Large Constituents Risk-Adjusted Indicators

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