ProShares Nasdaq Correlations

QQQA Etf

USD 46.66 0.90 1.89%

The current 90-days correlation between ProShares Nasdaq 100 and Vanguard Growth Index is 0.88 (i.e., Very poor diversification). The correlation of ProShares Nasdaq 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 Nasdaq Correlation With Market

Average diversification

The correlation between ProShares Nasdaq 100 Dorsey and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Nasdaq 100 Dorsey 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 Nasdaq 100 Dorsey. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with ProShares Etf

0.94	VUG	Vanguard Growth Index	Pair Corr
0.94	IWF	iShares Russell 1000	Pair Corr
0.93	IVW	iShares SP 500	Pair Corr
0.93	SPYG	SPDR Portfolio SP	Pair Corr
0.94	IUSG	iShares Core SP	Pair Corr
0.94	VONG	Vanguard Russell 1000	Pair Corr
0.93	MGK	Vanguard Mega Cap	Pair Corr
0.94	VRGWX	Vanguard Russell 1000	Pair Corr
0.95	QQQM	Invesco NASDAQ 100	Pair Corr
0.92	IWY	iShares Russell Top	Pair Corr
0.93	VTI	Vanguard Total Stock	Pair Corr
0.94	SPY	SPDR SP 500	Pair Corr
0.94	IVV	iShares Core SP	Pair Corr
0.69	VO	Vanguard Mid Cap	Pair Corr
0.78	VB	Vanguard Small Cap	Pair Corr
0.77	BAC	Bank of America Aggressive Push	Pair Corr
0.89	WMT	Walmart	Pair Corr
0.77	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.79	CSCO	Cisco Systems	Pair Corr

Moving against ProShares Etf

0.46	VEA	Vanguard FTSE Developed	Pair Corr
0.77	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.73	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.69	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.55	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.49	GE	GE Aerospace Sell-off Trend	Pair Corr
0.46	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr

Related Correlations Analysis

	VUG	IWF	IVW	SPYG	IUSG	VONG	MGK	VRGWX	QQQM	IWY
VUG		1.0	1.0	1.0	1.0	1.0	1.0	1.0	0.99	0.99	VUG
IWF	1.0		1.0	1.0	1.0	1.0	1.0	1.0	0.99	1.0	IWF
IVW	1.0	1.0		1.0	1.0	1.0	1.0	1.0	0.99	1.0	IVW
SPYG	1.0	1.0	1.0		1.0	1.0	1.0	1.0	0.99	1.0	SPYG
IUSG	1.0	1.0	1.0	1.0		1.0	1.0	1.0	0.99	0.99	IUSG
VONG	1.0	1.0	1.0	1.0	1.0		1.0	1.0	0.99	1.0	VONG
MGK	1.0	1.0	1.0	1.0	1.0	1.0		1.0	0.99	1.0	MGK
VRGWX	1.0	1.0	1.0	1.0	1.0	1.0	1.0		0.99	1.0	VRGWX
QQQM	0.99	0.99	0.99	0.99	0.99	0.99	0.99	0.99		0.99	QQQM
IWY	0.99	1.0	1.0	1.0	0.99	1.0	1.0	1.0	0.99		IWY
	VUG	IWF	IVW	SPYG	IUSG	VONG	MGK	VRGWX	QQQM	IWY

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ProShares Nasdaq Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Nasdaq 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 Nasdaq'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
VUG	0.75	0.15	0.12	1.16	0.92	(0.77)	1.66	(1.45)	5.83
IWF	0.76	0.16	0.11	1.17	0.96	(0.76)	1.63	(1.52)	5.97
IVW	0.74	0.14	0.11	1.06	0.94	(0.75)	1.59	(1.58)	5.79
SPYG	0.74	0.15	0.11	1.11	0.96	(0.76)	1.54	(1.51)	5.94
IUSG	0.73	0.14	0.10	0.92	1.01	(0.74)	1.49	(1.55)	6.03
VONG	0.75	0.15	0.11	1.12	0.94	(0.74)	1.62	(1.53)	5.90
MGK	0.77	0.16	0.11	1.43	0.94	(0.77)	1.66	(1.61)	5.68
VRGWX	0.76	0.15	0.11	1.13	0.97	(0.76)	1.65	(1.54)	5.99
QQQM	0.80	0.12	0.09	1.22	1.01	(0.85)	1.57	(1.51)	6.31
IWY	0.78	0.15	0.11	1.47	0.93	(0.77)	1.72	(1.64)	5.79

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