Proshares Russell Correlations

ITWO Etf

37.62 0.56 1.51%

The current 90-days correlation between Proshares Russell 2000 and Strategy Shares is 0.09 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Proshares Russell moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Proshares Russell 2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Proshares Russell Correlation With Market

Average diversification

The correlation between Proshares Russell 2000 and DJI is 0.18 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Proshares Russell 2000 and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Proshares Russell 2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with Proshares Etf

0.61	XYLD	Global X SP	Pair Corr
0.76	RYLD	Global X Russell	Pair Corr
0.73	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.68	USD	ProShares Ultra Semi	Pair Corr
0.73	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.78	FNGO	MicroSectors FANG Index	Pair Corr
0.62	NAIL	Direxion Daily Homeb	Pair Corr
0.62	DUSL	Direxion Daily Indus	Pair Corr
0.73	TECL	Direxion Daily Technology	Pair Corr
0.74	SPXL	Direxion Daily SP500	Pair Corr
0.74	UPRO	ProShares UltraPro SP500	Pair Corr
0.7	AA	Alcoa Corp	Pair Corr
0.63	HD	Home Depot	Pair Corr
0.65	AXP	American Express	Pair Corr
0.74	BAC	Bank of America Aggressive Push	Pair Corr
0.64	HPQ	HP Inc	Pair Corr

Moving against Proshares Etf

0.69	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.42	SIXH	ETC 6 Meridian	Pair Corr
0.41	IDME	International Drawdown	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.61	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.6	MCD	McDonalds	Pair Corr
0.58	KO	Coca Cola	Pair Corr
0.53	T	ATT Inc Sell-off Trend	Pair Corr
0.31	GDXU	MicroSectors Gold Miners	Pair Corr

Related Correlations Analysis

	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG
DHSB		-0.13	-0.09	-0.04	0.1	-0.01	-0.11	-0.06	-0.09	DHSB
MBOX	-0.13		0.36	0.16	-0.29	0.4	0.92	0.37	0.84	MBOX
DIEM	-0.09	0.36		0.86	0.13	-0.38	0.52	0.77	0.64	DIEM
MCHI	-0.04	0.16	0.86		0.47	-0.54	0.46	0.92	0.6	MCHI
DIPS	0.1	-0.29	0.13	0.47		-0.54	-0.04	0.52	0.09	DIPS
DISO	-0.01	0.4	-0.38	-0.54	-0.54		0.26	-0.51	0.06	DISO
DIVB	-0.11	0.92	0.52	0.46	-0.04	0.26		0.63	0.95	DIVB
DIVD	-0.06	0.37	0.77	0.92	0.52	-0.51	0.63		0.75	DIVD
DIVG	-0.09	0.84	0.64	0.6	0.09	0.06	0.95	0.75		DIVG
	DHSB	MBOX	DIEM	MCHI	DIPS	DISO	DIVB	DIVD	DIVG

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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

DIVG	+ 0.95	DIVB
DIVB	+ 0.92	MBOX
DIVD	+ 0.92	MCHI
MCHI	+ 0.86	DIEM
DIVG	+ 0.84	MBOX
DIVD	+ 0.77	DIEM

High negative correlations

DISO	- 0.54	DIPS
DISO	- 0.54	MCHI
DIVD	- 0.51	DISO
DISO	- 0.38	DIEM
DIPS	- 0.29	MBOX
MBOX	- 0.13	DHSB

Proshares Russell Constituents Risk-Adjusted Indicators

There is a big difference between Proshares Etf performing well and Proshares Russell 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 Russell'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
DHSB	0.38	(0.05)	0.00	(0.25)	0.00	0.00	0.82	(0.74)	1.68
MBOX	0.70	0.00	0.00	(0.03)	0.00	0.00	1.27	(1.40)	3.06
DIEM	0.69	0.04	0.07	0.06	0.86	(0.75)	1.43	(1.89)	4.39
MCHI	1.36	0.28	0.20	0.87	1.39	(1.60)	2.63	(2.72)	7.91
DIPS	2.25	0.06	0.05	(0.09)	2.72	(2.43)	5.35	(4.43)	23.78
DISO	0.90	(0.11)	0.00	(0.21)	0.00	0.00	1.47	(2.12)	6.61
DIVB	0.66	0.04	0.05	0.02	0.87	(0.66)	1.16	(1.40)	3.13
DIVD	0.59	0.14	0.22	0.26	0.62	(0.67)	1.39	(0.95)	3.39
DIVG	0.60	0.03	0.06	0.03	0.75	(0.62)	1.23	(1.18)	3.05

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