ProShares Correlations

OND Etf

USD 33.94 0.12 0.35%

The current 90-days correlation between ProShares On Demand and ProShares Smart Materials is 0.71 (i.e., Poor diversification). The correlation of ProShares 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.

ProShares Correlation With Market

Very weak diversification

The correlation between ProShares On Demand ETF and DJI is 0.54 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares On Demand ETF and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares On Demand ETF. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving together with ProShares Etf

0.84	XLC	Communication Services	Pair Corr
0.62	VOX	Vanguard Communication	Pair Corr
0.62	FCOM	Fidelity MSCI Commun	Pair Corr
0.85	IYZ	IShares Telecommunicatio	Pair Corr
0.91	ESPO	VanEck Video Gaming	Pair Corr
0.86	IXP	iShares Global Comm	Pair Corr
0.83	HERO	Global X Video	Pair Corr
0.89	SOCL	Global X Social	Pair Corr
0.96	GAMR	Amplify ETF Trust	Pair Corr
0.75	LUX	Tema ETF Trust	Pair Corr
0.62	SWP	SWP Growth Income	Pair Corr
0.65	DUKH	Ocean Park High	Pair Corr
0.65	SMI	VanEck Vectors ETF	Pair Corr
0.64	JPM	JPMorgan Chase	Pair Corr
0.65	GE	GE Aerospace	Pair Corr
0.78	CSCO	Cisco Systems	Pair Corr

Moving against ProShares Etf

0.38	FNGD	MicroSectors FANG Index	Pair Corr
0.84	MRK	Merck Company	Pair Corr

Related Correlations Analysis

	TINT	MAKX	DAT	CTEX	ANEW
TINT		0.33	0.31	0.11	0.64	TINT
MAKX	0.33		0.92	0.84	0.47	MAKX
DAT	0.31	0.92		0.62	0.64	DAT
CTEX	0.11	0.84	0.62		0.03	CTEX
ANEW	0.64	0.47	0.64	0.03		ANEW
	TINT	MAKX	DAT	CTEX	ANEW

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ProShares Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares 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' 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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
TINT	0.94	(0.01)	(0.07)	1.85	(2.34)	5.63
MAKX	1.25	(0.09)	(0.16)	2.04	(3.22)	7.70
DAT	1.54	(0.08)	(0.13)	2.61	(3.47)	9.52
CTEX	2.05	(0.16)	(0.31)	3.37	(4.53)	12.40
ANEW	0.80	0.02	(0.04)	1.51	(1.66)	4.98

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