ProShares Large Correlations

Etfs . USA . 
Etf . ProShares Large Cap
CSM Etf  USD 66.48  0.13  0.20%   
The current 90-days correlation between ProShares Large Cap and ProShares Hedge Replication is 0.67 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Large moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Large Cap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Large Correlation With Market

Very poor diversification

The correlation between ProShares Large Cap and DJI is 0.86 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Large Cap 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 Large Cap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with ProShares Etf

  0.93VTI Vanguard Total StockPairCorr
  0.92SPY SPDR SP 500PairCorr
  0.92IVV iShares Core SPPairCorr
  0.91VIG Vanguard DividendPairCorr
  0.99VV Vanguard Large CapPairCorr
  0.9RSP Invesco SP 500PairCorr
  0.99IWB iShares Russell 1000PairCorr
  0.99ESGU iShares ESG AwarePairCorr
  0.98DFAC Dimensional Core EquityPairCorr
  0.99SPLG SPDR Portfolio SPPairCorr
  0.85ARKW ARK Next GenerationPairCorr
  0.83WTMF WisdomTree ManagedPairCorr
  0.81EWC iShares MSCI CanadaPairCorr
  0.91BST BlackRock Science TechPairCorr
  0.81DIS Walt DisneyPairCorr
  0.61CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.91JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.7TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.8WMT WalmartPairCorr
  0.89BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.76AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.79T ATT Inc Fiscal Year End 22nd of January 2025 PairCorr
  0.9AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.82CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr

Moving against ProShares Etf

  0.54IRET Tidal Trust IIPairCorr
  0.79KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.79PFE Pfizer Inc Aggressive PushPairCorr
  0.75JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr
  0.37DD Dupont De Nemours Fiscal Year End 4th of February 2025 PairCorr

Related Correlations Analysis

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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   
QAI
+ 0.92
HDG
QAI
+ 0.86
UCC
UCC
+ 0.78
HDG
UGE
+ 0.59
EFO
  
High negative correlations   
UCC
- 0.66
EFO
EFO
- 0.59
HDG
QAI
- 0.54
EFO
UGE
- 0.16
HDG
UCC
- 0.13
UGE
QAI
- 0.02
UGE

ProShares Large Constituents Risk-Adjusted Indicators

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

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