ProShares Russell Correlations

SMDV Etf

USD 74.81 0.08 0.11%

The current 90-days correlation between ProShares Russell 2000 and FT Vest Equity is 0.52 (i.e., Very weak diversification). The correlation of ProShares Russell 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 Russell Correlation With Market

Very poor diversification

The correlation between ProShares Russell 2000 and DJI is 0.81 (i.e., Very poor 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 World Market Map 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 unemployment.

Moving together with ProShares Etf

0.96	VBR	Vanguard Small Cap	Pair Corr
0.99	IWN	iShares Russell 2000	Pair Corr
0.98	DFAT	Dimensional Targeted	Pair Corr
0.99	IJS	iShares SP Small	Pair Corr
0.99	SLYV	SPDR SP 600	Pair Corr
0.98	AVUV	Avantis Small Cap	Pair Corr
0.99	DES	WisdomTree SmallCap	Pair Corr
0.95	MDYV	SPDR SP 400	Pair Corr
0.84	CALF	Pacer Small Cap	Pair Corr
0.96	REGL	ProShares SP MidCap	Pair Corr
0.78	TOAK	Manager Directed Por	Pair Corr
0.88	VTI	Vanguard Total Stock	Pair Corr
0.85	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.85	IVV	iShares Core SP	Pair Corr
0.95	VB	Vanguard Small Cap	Pair Corr
0.94	IJH	iShares Core SP	Pair Corr
0.83	IWF	iShares Russell 1000	Pair Corr
0.69	T	ATT Inc Fiscal Year End 22nd of January 2025	Pair Corr
0.76	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.9	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.81	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.87	DIS	Walt Disney Aggressive Push	Pair Corr
0.75	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.86	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr

Moving against ProShares Etf

0.68	EFA	iShares MSCI EAFE Aggressive Push	Pair Corr
0.8	PFE	Pfizer Inc Fiscal Year End 4th of February 2025	Pair Corr
0.76	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.76	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr
0.7	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.52	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	MCDS	MCHS	DINT	DISV	DJAN	MDLV
DHDG		-0.08	0.54	-0.29	-0.29	-0.33	0.45	-0.38	0.09	DHDG
MBCC	-0.08		-0.41	0.9	0.43	0.52	-0.29	0.92	0.67	MBCC
DIHP	0.54	-0.41		-0.67	-0.04	-0.02	0.96	-0.62	0.1	DIHP
MCDS	-0.29	0.9	-0.67		0.43	0.48	-0.56	0.97	0.45	MCDS
MCHS	-0.29	0.43	-0.04	0.43		0.97	0.07	0.5	0.55	MCHS
DINT	-0.33	0.52	-0.02	0.48	0.97		0.11	0.58	0.64	DINT
DISV	0.45	-0.29	0.96	-0.56	0.07	0.11		-0.5	0.23	DISV
DJAN	-0.38	0.92	-0.62	0.97	0.5	0.58	-0.5		0.53	DJAN
MDLV	0.09	0.67	0.1	0.45	0.55	0.64	0.23	0.53		MDLV
	DHDG	MBCC	DIHP	MCDS	MCHS	DINT	DISV	DJAN	MDLV

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

DJAN	+ 0.97	MCDS
DINT	+ 0.97	MCHS
DISV	+ 0.96	DIHP
DJAN	+ 0.92	MBCC
MCDS	+ 0.9	MBCC
MDLV	+ 0.67	MBCC

High negative correlations

MCDS	- 0.67	DIHP
DJAN	- 0.62	DIHP
DISV	- 0.56	MCDS
DJAN	- 0.5	DISV
DIHP	- 0.41	MBCC
DJAN	- 0.38	DHDG

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
DHDG	0.27	0.04	(0.10)	0.29	0.24	(0.28)	0.53	(0.68)	2.01
MBCC	0.53	0.01	(0.03)	0.13	0.57	(0.54)	1.12	(1.07)	3.36
DIHP	0.64	(0.13)	0.00	(0.17)	0.00	0.00	1.27	(1.53)	3.83
MCDS	0.53	0.07	0.06	0.20	0.28	(0.79)	1.24	(1.04)	3.43
MCHS	1.93	0.22	0.04	1.14	2.37	(2.21)	5.60	(3.78)	19.75
DINT	1.22	0.13	0.03	0.41	1.69	(1.27)	3.13	(2.15)	10.90
DISV	0.74	(0.12)	0.00	(0.14)	0.00	0.00	1.34	(1.69)	4.15
DJAN	0.17	0.01	(0.23)	0.15	0.17	(0.19)	0.42	(0.34)	1.25
MDLV	0.42	0.00	(0.14)	0.10	0.43	(0.44)	0.79	(0.80)	2.04

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC