ProShares MSCI Correlations

Etfs . USA . 
Etf . ProShares MSCI Europe
EUDV Etf  USD 50.10  0.00  0.00%   
The current 90-days correlation between ProShares MSCI Europe and ProShares MSCI EAFE is 0.95 (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 0.46 (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

  0.98VGK Vanguard FTSE EuropePairCorr
  0.97EZU iShares MSCI EurozonePairCorr
  0.97BBEU JPMorgan BetaBuildersPairCorr
  0.98IEUR iShares Core MSCIPairCorr
  0.97FEZ SPDR EURO STOXXPairCorr
  0.97IEV iShares Europe ETFPairCorr
  0.92HEDJ WisdomTree Europe HedgedPairCorr
  0.92DBEU Xtrackers MSCI EuropePairCorr
  0.93HEZU iShares Currency HedgedPairCorr
  0.94FEP First Trust EuropePairCorr
  0.91IGA Voya Global AdvantagePairCorr
  0.88GDXU MicroSectors Gold MinersPairCorr
  0.64CVX Chevron Corp Sell-off TrendPairCorr
  0.66CSCO Cisco SystemsPairCorr
  0.79GE GE AerospacePairCorr
  0.86VZ Verizon CommunicationsPairCorr
  0.8MMM 3M CompanyPairCorr
  0.9JNJ Johnson JohnsonPairCorr
  0.91T ATT Inc Earnings Call TodayPairCorr
  0.81IBM International BusinessPairCorr
  0.65PG Procter GamblePairCorr
  0.84KO Coca ColaPairCorr

Moving against ProShares Etf

  0.68MAGS Roundhill MagnificentPairCorr
  0.61SEMI Columbia SeligmanPairCorr
  0.57MRK Merck CompanyPairCorr
  0.53HPQ HP IncPairCorr
  0.49CAT CaterpillarPairCorr

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   
EUDG
+ 0.98
EFAD
SMDV
+ 0.88
REGL
EMDV
+ 0.49
EFAD
EUDG
+ 0.36
EMDV
SMDV
+ 0.34
EMDV
REGL
+ 0.17
EFAD
  
High negative correlations   
EUDG
- 0.0
SMDV

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.

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