ProShares MSCI Correlations

EUDV Etf

USD 48.99 0.24 0.49%

The current 90-days correlation between ProShares MSCI Europe and ProShares MSCI EAFE is 0.93 (i.e., Almost no diversification). The correlation of ProShares MSCI 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 MSCI Correlation With Market

Very weak diversification

The correlation between ProShares MSCI Europe and DJI is 0.45 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares MSCI Europe and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares MSCI Europe. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with ProShares Etf

0.87	VGK	Vanguard FTSE Europe	Pair Corr
0.77	EZU	iShares MSCI Eurozone	Pair Corr
0.86	BBEU	JPMorgan BetaBuilders	Pair Corr
0.87	IEUR	iShares Core MSCI	Pair Corr
0.74	FEZ	SPDR EURO STOXX	Pair Corr
0.86	IEV	iShares Europe ETF	Pair Corr
0.67	HEDJ	WisdomTree Europe Hedged	Pair Corr
0.72	DBEU	Xtrackers MSCI Europe	Pair Corr
0.65	HEZU	iShares Currency Hedged	Pair Corr
0.84	FEP	First Trust Europe	Pair Corr
0.61	UPRO	ProShares UltraPro SP500	Pair Corr
0.78	XTOC	Innovator ETFs Trust	Pair Corr
0.68	XTAP	Innovator Equity Acc	Pair Corr
0.64	RXI	iShares Global Consumer	Pair Corr
0.69	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.67	JPM	JPMorgan Chase	Pair Corr
0.73	GE	GE Aerospace	Pair Corr
0.79	T	ATT Inc Aggressive Push	Pair Corr
0.65	CSCO	Cisco Systems	Pair Corr
0.67	DD	Dupont De Nemours	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr
0.67	WMT	Walmart Aggressive Push	Pair Corr
0.77	IBM	International Business Sell-off Trend	Pair Corr

Moving against ProShares Etf

0.55

MRK

Merck Company Aggressive Push

Pair Corr

Related Correlations Analysis

	EFAD	EMDV	REGL	SMDV	EUDG
EFAD		0.51	0.59	0.58	0.83	EFAD
EMDV	0.51		0.65	0.78	0.08	EMDV
REGL	0.59	0.65		0.96	0.13	REGL
SMDV	0.58	0.78	0.96		0.08	SMDV
EUDG	0.83	0.08	0.13	0.08		EUDG
	EFAD	EMDV	REGL	SMDV	EUDG

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ProShares MSCI Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares MSCI 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 MSCI'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
EFAD	0.52	0.04	0.07	0.07	0.68	(0.55)	1.08	(1.15)	3.42
EMDV	0.55	(0.06)	0.00	(0.37)	0.00	0.00	0.89	(1.08)	4.92
REGL	0.73	(0.03)	0.00	(0.06)	0.00	0.00	1.43	(1.21)	5.41
SMDV	0.79	(0.08)	0.00	(0.12)	0.00	0.00	1.44	(1.47)	5.84
EUDG	0.60	0.13	0.17	0.32	0.69	(0.62)	1.11	(1.21)	3.57

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