ProShares Correlations

MAKX Etf

USD 49.78 3.36 6.32%

The current 90-days correlation between ProShares SP Kensho and ProShares Big Data is 0.43 (i.e., Very weak 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

Very weak diversification

The correlation between ProShares SP Kensho and DJI is 0.51 (i.e., Very weak 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 inflation.

Moving together with ProShares Etf

0.79	VGT	Vanguard Information	Pair Corr
0.76	XLK	Technology Select Sector	Pair Corr
0.78	IYW	iShares Technology ETF	Pair Corr
0.74	SMH	VanEck Semiconductor ETF	Pair Corr
0.77	SOXX	iShares Semiconductor ETF	Pair Corr
0.65	CIBR	First Trust NASDAQ	Pair Corr
0.79	FTEC	Fidelity MSCI Information	Pair Corr
0.74	FDN	First Trust Dow	Pair Corr
0.8	IGM	iShares Expanded Tech	Pair Corr
0.69	USD	ProShares Ultra Semi	Pair Corr
0.66	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.68	DFEN	Direxion Daily Aerospace	Pair Corr
0.69	ETHE	Grayscale Ethereum Trust	Pair Corr
0.74	URNM	Sprott Uranium Miners	Pair Corr
0.74	JPM	JPMorgan Chase Earnings Call This Week	Pair Corr
0.66	HPQ	HP Inc	Pair Corr
0.74	AXP	American Express Earnings Call This Week	Pair Corr
0.75	DD	Dupont De Nemours	Pair Corr
0.8	BAC	Bank of America Earnings Call This Week	Pair Corr
0.67	JNJ	Johnson Johnson Earnings Call This Week	Pair Corr
0.72	INTC	Intel	Pair Corr
0.73	GE	GE Aerospace	Pair Corr

Moving against ProShares Etf

0.42	MLPR	ETRACS Quarterly Pay	Pair Corr
0.63	KO	Coca Cola	Pair Corr
0.35	BA	Boeing	Pair Corr

Related Correlations Analysis

	DAT	CTEX	TINT	OND	ANEW
DAT		0.68	0.47	0.69	0.72	DAT
CTEX	0.68		0.77	0.92	0.88	CTEX
TINT	0.47	0.77		0.86	0.87	TINT
OND	0.69	0.92	0.86		0.9	OND
ANEW	0.72	0.88	0.87	0.9		ANEW
	DAT	CTEX	TINT	OND	ANEW

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DAT	1.15	0.01	0.01	0.03	1.54	(1.11)	2.62	(2.22)	5.65
CTEX	1.42	0.47	0.23	0.43	1.56	(1.55)	3.58	(2.16)	8.78
TINT	0.85	(0.02)	(0.02)	0.00	0.96	(0.98)	2.02	(1.66)	5.62
OND	0.81	0.11	0.11	0.12	0.90	(0.86)	2.14	(1.38)	4.89
ANEW	0.53	(0.01)	(0.01)	0.01	0.78	(0.52)	1.17	(0.99)	2.71

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC