ProShares Correlations

Etfs . USA . 
Etf . ProShares SP 500
NOBL Etf  USD 103.36  0.12  0.12%   
The current 90-days correlation between ProShares SP 500 and iShares Core Dividend is 0.93 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Correlation With Market

Very poor diversification

The correlation between ProShares SP 500 and DJI is 0.84 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares SP 500 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 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with ProShares Etf

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  0.95DGRO iShares Core Dividend Sell-off TrendPairCorr
  0.95IVE iShares SP 500PairCorr
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  0.8PFE Pfizer Inc Earnings Call This WeekPairCorr
  0.84MMM 3M Company Sell-off TrendPairCorr
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Moving against ProShares Etf

  0.5MCD McDonalds Earnings Call This WeekPairCorr
  0.43KO Coca ColaPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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