ProShares Correlations

Etfs . USA . 
Etf . ProShares SP Kensho
MAKX Etf  USD 49.38  0.09  0.18%   
The current 90-days correlation between ProShares SP Kensho and ProShares Big Data is 0.67 (i.e., Poor diversification). The correlation of ProShares 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 Correlation With Market

Poor diversification

The correlation between ProShares SP Kensho 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 SP Kensho and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with ProShares Etf
Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in ProShares SP Kensho. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with ProShares Etf

  0.98VGT Vanguard InformationPairCorr
  0.97XLK Technology Select SectorPairCorr
  0.98IYW iShares Technology ETFPairCorr
  0.99SMH VanEck Semiconductor ETFPairCorr
  0.98SOXX iShares Semiconductor ETFPairCorr
  0.88CIBR First Trust NASDAQPairCorr
  0.98FTEC Fidelity MSCI InformationPairCorr
  0.92IGV iShares Expanded TechPairCorr
  0.93FDN First Trust DowPairCorr
  0.97IGM iShares Expanded TechPairCorr
  0.98DHF BNY Mellon HighPairCorr
  0.95MAGS Roundhill MagnificentPairCorr
  0.93ARP Advisors Inner CirclePairCorr
  0.93PXMV Invesco SP MidCapPairCorr
  0.63IGA Voya Global AdvantagePairCorr
  0.98SEMI Columbia SeligmanPairCorr
  0.76GRW TCW Compounders ETFPairCorr
  0.91BA Boeing Earnings Call This WeekPairCorr
  0.97JPM JPMorgan ChasePairCorr
  0.95MSFT Microsoft Earnings Call This WeekPairCorr
  0.91IBM International BusinessPairCorr
  0.86MMM 3M Company Sell-off TrendPairCorr
  0.91DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.95BAC Bank of America Aggressive PushPairCorr
  0.91GE GE AerospacePairCorr
  0.83PFE Pfizer IncPairCorr
  0.91DIS Walt DisneyPairCorr
  0.95CSCO Cisco SystemsPairCorr

Moving against ProShares Etf

  0.63KO Coca ColaPairCorr
  0.57PG Procter Gamble Earnings Call This WeekPairCorr
  0.36VZ Verizon Communications Aggressive PushPairCorr

Related Correlations Analysis

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ProShares Constituents Risk-Adjusted Indicators

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