ProShares Long Correlations

CLIX Etf

USD 48.13 0.01 0.02%

The current 90-days correlation between ProShares Long Onlin and ProShares Online Retail is -0.23 (i.e., Very good diversification). The correlation of ProShares Long 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 Long Correlation With Market

Good diversification

The correlation between ProShares Long OnlineShort and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Long OnlineShort and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ProShares Long OnlineShort. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with ProShares Etf

0.73	CAT	Caterpillar Sell-off Trend	Pair Corr
0.67	HD	Home Depot	Pair Corr

Moving against ProShares Etf

0.53	NRGU	Bank Of Montreal	Pair Corr
0.35	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.33	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	ONLN	IBUY	EMTY	EBIZ	WCLD
ONLN		0.8	-0.61	0.94	0.66	ONLN
IBUY	0.8		-0.79	0.87	0.97	IBUY
EMTY	-0.61	-0.79		-0.64	-0.79	EMTY
EBIZ	0.94	0.87	-0.64		0.77	EBIZ
WCLD	0.66	0.97	-0.79	0.77		WCLD
	ONLN	IBUY	EMTY	EBIZ	WCLD

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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

WCLD	+ 0.97	IBUY
EBIZ	+ 0.94	ONLN
EBIZ	+ 0.87	IBUY
IBUY	+ 0.8	ONLN
WCLD	+ 0.77	EBIZ
WCLD	+ 0.66	ONLN

High negative correlations

WCLD	- 0.79	EMTY
EMTY	- 0.79	IBUY
EBIZ	- 0.64	EMTY
EMTY	- 0.61	ONLN

ProShares Long Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Long 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 Long'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
ONLN	1.03	0.15	0.13	0.28	0.79	(1.25)	2.82	(1.74)	5.36
IBUY	0.90	0.23	0.26	0.32	0.44	(1.08)	2.34	(1.38)	4.74
EMTY	0.84	(0.06)	0.00	0.17	0.00	0.00	1.67	(1.64)	5.80
EBIZ	0.94	0.32	0.23	45.92	0.64	(1.07)	2.31	(1.44)	5.76
WCLD	1.11	0.27	0.26	0.29	0.78	(1.33)	2.69	(1.87)	7.45

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