ProShares Big Correlations

Etfs . USA . 
Etf . ProShares Big Data
DAT Etf  USD 46.64  0.01  0.02%   
The current 90-days correlation between ProShares Big Data and ProShares SP Kensho is 0.67 (i.e., Poor diversification). The correlation of ProShares Big 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 Big Correlation With Market

Poor diversification

The correlation between ProShares Big Data and DJI is 0.64 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Big Data and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with ProShares Etf
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Big Data. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with ProShares Etf

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Moving against ProShares Etf

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  0.56MCD McDonaldsPairCorr
  0.4PG Procter GamblePairCorr

Related Correlations Analysis

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ProShares Big Constituents Risk-Adjusted Indicators

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