ProShares Correlations

Etfs . USA . 
Etf . ProShares DJ Brookfield
TOLZ Etf  USD 52.43  0.06  0.11%   
The current 90-days correlation between ProShares DJ Brookfield and FlexShares STOXX Global is 0.87 (i.e., Very 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Correlation With Market

Good diversification

The correlation between ProShares DJ Brookfield and DJI is -0.13 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares DJ Brookfield 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 DJ Brookfield. 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

  0.66IGF iShares Global InfraPairCorr
  0.9NFRA FlexShares STOXX GlobalPairCorr
  0.77GII SPDR SP GlobalPairCorr
  0.72INFR ClearBridge SustainablePairCorr
  0.84BLLD JP Morgan ExchangePairCorr
  0.74BABX GraniteShares 175x LongPairCorr
  0.82GDXU MicroSectors Gold MinersPairCorr
  0.78XPP ProShares Ultra FTSEPairCorr
  0.82JNUG Direxion Daily JuniorPairCorr
  0.72VZ Verizon Communications Sell-off TrendPairCorr
  0.75CVX Chevron CorpPairCorr
  0.67GE GE AerospacePairCorr
  0.69MMM 3M CompanyPairCorr
  0.74T ATT Inc Aggressive PushPairCorr
  0.77XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.74TRV The Travelers CompaniesPairCorr
  0.68KO Coca Cola Sell-off TrendPairCorr
  0.73JNJ Johnson JohnsonPairCorr
  0.68INTC Intel Sell-off TrendPairCorr

Moving against ProShares Etf

  0.62SIMS SPDR SP KenshoPairCorr
  0.61XKII SPDR Kensho IntelligentPairCorr
  0.56WTID UBS ETRACS Upward RallyPairCorr
  0.4PAVE Global X InfrastructurePairCorr
  0.6MSFT Microsoft Aggressive PushPairCorr
  0.47HD Home DepotPairCorr
  0.42CAT CaterpillarPairCorr
  0.35BAC Bank of America Aggressive PushPairCorr

Related Correlations Analysis

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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   
IGF
+ 0.86
GII
EMIF
+ 0.7
GII
GII
+ 0.66
NFRA
EMIF
+ 0.62
NFRA
EMIF
+ 0.62
IGF
IGF
+ 0.53
NFRA
  
High negative correlations   
IFRA
- 0.18
NFRA

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.

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