ProShares Online Correlations

ONLN Etf

USD 47.91 0.22 0.46%

The current 90-days correlation between ProShares Online Retail and Amplify Online Retail is 0.79 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Online moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Online Retail moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Online Correlation With Market

Very weak diversification

The correlation between ProShares Online Retail 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 Online Retail 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 Online Retail. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with ProShares Etf

0.7	XLY	Consumer Discretionary	Pair Corr
0.69	VCR	Vanguard Consumer	Pair Corr
0.69	FDIS	Fidelity MSCI Consumer	Pair Corr
0.7	IYC	iShares Consumer Dis	Pair Corr
0.68	PEJ	Invesco Dynamic Leisure	Pair Corr
0.75	FXD	First Trust Consumer	Pair Corr
0.83	RCD	Invesco SP 500	Pair Corr
0.71	XRT	SPDR SP Retail	Pair Corr
0.71	FNGU	MicroSectors FANG Index	Pair Corr
0.83	FBL	GraniteShares 15x Long	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.61	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.84	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.66	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.64	WMT	Walmart	Pair Corr
0.75	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr

Moving against ProShares Etf

0.57	WTID	UBS ETRACS	Pair Corr
0.71	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.56	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.51	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.47	KO	Coca Cola Aggressive Push	Pair Corr

Related Correlations Analysis

	IBUY	CLIX	EBIZ	WCLD	CLOU
IBUY		0.59	0.89	0.96	0.97	IBUY
CLIX	0.59		0.83	0.4	0.41	CLIX
EBIZ	0.89	0.83		0.78	0.8	EBIZ
WCLD	0.96	0.4	0.78		1.0	WCLD
CLOU	0.97	0.41	0.8	1.0		CLOU
	IBUY	CLIX	EBIZ	WCLD	CLOU

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ProShares Online Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Online 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 Online'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
IBUY	0.90	0.24	0.26	0.34	0.43	(1.08)	2.34	(1.38)	4.74
CLIX	0.84	0.13	0.07	0.40	0.86	(0.86)	1.93	(1.77)	4.77
EBIZ	0.94	0.25	0.21	0.48	0.64	(1.07)	2.31	(1.44)	5.76
WCLD	1.09	0.29	0.28	0.31	0.72	(1.32)	2.69	(1.87)	7.45
CLOU	0.94	0.30	0.30	0.37	0.44	(1.10)	2.43	(1.44)	5.74

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