ProShares Nasdaq Correlations

QB Etf

40.58 0.02 0.05%

The current 90-days correlation between ProShares Nasdaq 100 and ProShares Trust ProShares is 0.49 (i.e., Very weak diversification). The correlation of ProShares Nasdaq 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.

ProShares Nasdaq Correlation With Market

Good diversification

The correlation between ProShares Nasdaq 100 Dynamic and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Nasdaq 100 Dynamic and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Your Equity Center to better understand how to build diversified portfolios. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as various price indices.

Moving against ProShares Etf

0.7	VO	Vanguard Mid Cap	Pair Corr
0.7	IIMFX	Bluerock High Income	Pair Corr
0.69	IIMCX	Bluerock High Income	Pair Corr
0.68	VTV	Vanguard Value Index	Pair Corr
0.68	VB	Vanguard Small Cap	Pair Corr
0.68	XLI	Industrial Select Sector	Pair Corr
0.66	VTI	Vanguard Total Stock	Pair Corr
0.66	SPY	SPDR SP 500	Pair Corr
0.66	IVV	iShares Core SP	Pair Corr
0.65	SPIB	SPDR Barclays Interm	Pair Corr
0.65	ARKK	ARK Innovation ETF Aggressive Push	Pair Corr
0.64	VUG	Vanguard Growth Index	Pair Corr
0.64	SDIV	Global X SuperDividend	Pair Corr
0.62	BND	Vanguard Total Bond	Pair Corr
0.62	VWO	Vanguard FTSE Emerging Sell-off Trend	Pair Corr
0.62	CBTA	Calamos Bitcoin 80	Pair Corr
0.6	BMED	BlackRock Future Health	Pair Corr
0.53	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.39	LENS	Sarmaya Thematic ETF	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.92	0.36	0.65	0.43	0.62	-0.71	0.82	0.61	0.44	META
MSFT	0.92		0.43	0.73	0.33	0.58	-0.71	0.94	0.7	0.5	MSFT
UBER	0.36	0.43		0.78	0.07	0.53	0.02	0.55	0.45	0.42	UBER
F	0.65	0.73	0.78		0.23	0.64	-0.34	0.8	0.74	0.64	F
T	0.43	0.33	0.07	0.23		0.32	-0.32	0.32	0.39	0.11	T
A	0.62	0.58	0.53	0.64	0.32		-0.25	0.65	0.65	0.73	A
CRM	-0.71	-0.71	0.02	-0.34	-0.32	-0.25		-0.51	-0.44	-0.19	CRM
JPM	0.82	0.94	0.55	0.8	0.32	0.65	-0.51		0.74	0.57	JPM
MRK	0.61	0.7	0.45	0.74	0.39	0.65	-0.44	0.74		0.68	MRK
XOM	0.44	0.5	0.42	0.64	0.11	0.73	-0.19	0.57	0.68		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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

JPM	+ 0.94	MSFT
MSFT	+ 0.92	META
JPM	+ 0.82	META
JPM	+ 0.8	F
F	+ 0.78	UBER
MRK	+ 0.74	F

High negative correlations

CRM	- 0.71	MSFT
CRM	- 0.71	META
JPM	- 0.51	CRM
MRK	- 0.44	CRM
CRM	- 0.34	F
CRM	- 0.32	T

ProShares Nasdaq Competition Risk-Adjusted Indicators

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

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.45	0.29	0.23	0.37	0.96	(1.81)	3.51	(2.35)	14.28
MSFT	0.69	0.22	0.25	0.48	0.28	(0.82)	2.20	(1.08)	5.71
UBER	1.51	0.07	(0.01)	2.63	1.69	(1.75)	3.87	(3.36)	11.37
F	1.31	0.07	0.04	0.16	1.55	(1.31)	2.55	(2.36)	7.46
T	0.89	0.01	(0.07)	0.18	1.19	(0.89)	2.03	(2.13)	5.71
A	1.45	0.17	0.02	(0.44)	1.82	(1.47)	2.82	(2.74)	14.01
CRM	1.23	(0.40)	0.00	(0.19)	0.00	0.00	2.12	(3.26)	8.50
JPM	0.84	0.14	0.12	0.23	0.84	(0.93)	1.83	(1.51)	5.90
MRK	1.38	(0.08)	(0.03)	0.03	1.95	(1.28)	2.90	(3.31)	10.58
XOM	1.06	0.01	(0.05)	0.17	1.32	(1.07)	2.14	(2.07)	6.26

ProShares Nasdaq Related Equities

One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with ProShares Nasdaq etf to make a market-neutral strategy. Peer analysis of ProShares Nasdaq could also be used in its relative valuation, which is a method of valuing ProShares Nasdaq by comparing valuation metrics with similar companies.

ProShares Trust ProShares ProShares Nasdaq 100 Dynamic ProShares Trust ProShares Short SP500 ProShares UltraShort Top ProShares Nasdaq 100 Dorsey ProShares Ultra Top ProShares High YieldInterest ProShares Metaverse ETF American Airlines Group Alcoa Corp Apple Inc Best Buy Co Citigroup SentinelOne

Risk & Return

Correlation

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