ProShares Smart Correlations

TINT Etf

USD 31.86 0.63 2.02%

The current 90-days correlation between ProShares Smart Materials and iShares Dividend and is 0.78 (i.e., Poor diversification). The correlation of ProShares Smart 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 Smart Correlation With Market

Poor diversification

The correlation between ProShares Smart Materials and DJI is 0.78 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Smart Materials and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Smart Materials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with ProShares Etf

0.98	XLB	Materials Select Sector	Pair Corr
0.98	VAW	Vanguard Materials Index	Pair Corr
0.93	XME	SPDR SP Metals	Pair Corr
0.96	PHO	Invesco Water Resources	Pair Corr
0.9	MOO	VanEck Agribusiness ETF	Pair Corr
0.97	FXZ	First Trust Materials	Pair Corr
0.96	FIW	First Trust Water	Pair Corr
0.91	URNM	Sprott Uranium Miners	Pair Corr
0.97	IYM	iShares Basic Materials	Pair Corr
0.95	DFEN	Direxion Daily Aerospace	Pair Corr
0.79	MSTY	YieldMax MSTR Option	Pair Corr
0.82	GRW	TCW Compounders ETF	Pair Corr
0.85	CVX	Chevron Corp	Pair Corr
0.95	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.95	BAC	Bank of America Aggressive Push	Pair Corr
0.88	PFE	Pfizer Inc	Pair Corr
0.94	AXP	American Express	Pair Corr
0.97	JPM	JPMorgan Chase	Pair Corr
0.9	DIS	Walt Disney	Pair Corr
0.98	CAT	Caterpillar	Pair Corr
0.83	INTC	Intel Earnings Call Today	Pair Corr
0.89	IBM	International Business	Pair Corr

Moving against ProShares Etf

0.87	WTID	UBS ETRACS	Pair Corr
0.7	ARKC	ARK 21Shares Active Low Volatility	Pair Corr
0.62	EV	NEOS Investment Mana	Pair Corr
0.42	SHNY	Microsectors Gold	Pair Corr
0.69	MCD	McDonalds	Pair Corr
0.59	KO	Coca Cola	Pair Corr
0.54	PG	Procter Gamble Earnings Call This Week	Pair Corr

Related Correlations Analysis

	DIVB	MCSE	GK	MJ	METV	DMAT	DMCY	DMXF	MILN
DIVB		0.93	0.98	0.07	0.96	0.89	0.97	0.95	0.98	DIVB
MCSE	0.93		0.91	0.18	0.89	0.77	0.95	0.95	0.96	MCSE
GK	0.98	0.91		0.09	0.99	0.92	0.97	0.94	0.97	GK
MJ	0.07	0.18	0.09		0.11	0.21	0.04	0.01	0.07	MJ
METV	0.96	0.89	0.99	0.11		0.94	0.95	0.91	0.95	METV
DMAT	0.89	0.77	0.92	0.21	0.94		0.86	0.8	0.84	DMAT
DMCY	0.97	0.95	0.97	0.04	0.95	0.86		0.99	0.98	DMCY
DMXF	0.95	0.95	0.94	0.01	0.91	0.8	0.99		0.97	DMXF
MILN	0.98	0.96	0.97	0.07	0.95	0.84	0.98	0.97		MILN
	DIVB	MCSE	GK	MJ	METV	DMAT	DMCY	DMXF	MILN

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ProShares Smart Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Smart 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 Smart'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
DIVB	0.60	0.03	0.00	0.25	0.42	(0.70)	1.64	(0.99)	4.54
MCSE	0.75	0.01	(0.02)	0.22	0.63	(0.87)	2.11	(1.47)	4.77
GK	0.71	0.23	0.24	0.48	0.00	(0.91)	2.09	(1.06)	4.73
MJ	2.25	0.02	0.03	0.22	2.31	(2.59)	5.48	(3.58)	17.32
METV	0.96	0.39	0.45	0.65	0.00	(1.30)	2.87	(1.22)	5.76
DMAT	1.08	0.44	0.22	2.55	0.61	(1.28)	2.76	(1.84)	5.61
DMCY	0.51	0.09	0.00	0.37	0.29	(0.57)	1.48	(0.90)	3.73
DMXF	0.59	0.10	0.00	0.41	0.29	(0.73)	1.57	(0.94)	3.77
MILN	0.78	0.08	0.09	0.29	0.52	(0.99)	2.03	(1.34)	5.48

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