ProShares Long Correlations

CLIX Etf

USD 60.92 1.23 2.06%

The current 90-days correlation between ProShares Long Onlin and Xtrackers Cybersecurity Select is 0.62 (i.e., Poor diversification). The correlation of ProShares Long 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 Long Correlation With Market

Good diversification

The correlation between ProShares Long OnlineShort and DJI is -0.04 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Long OnlineShort and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ProShares Long OnlineShort. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with ProShares Etf

0.87	FTLS	First Trust LongShort	Pair Corr
0.87	CLSE	Trust For Professional	Pair Corr
0.62	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.84	XLY	Consumer Discretionary	Pair Corr
0.87	ZSEP	Innovator Equity Defined	Pair Corr
0.76	SHV	iShares Short Treasury	Pair Corr
0.8	AIBU	Direxion Shares ETF	Pair Corr
0.79	XSEP	FT Cboe Vest	Pair Corr
0.88	IVW	iShares SP 500	Pair Corr
0.72	XCEM	Columbia EM Core	Pair Corr
0.73	WOMN	Impact Shares YWCA	Pair Corr
0.78	WDEF	WisdomTree Trust	Pair Corr
0.84	DFAI	Dimensional International	Pair Corr
0.81	DUKH	Ocean Park High	Pair Corr
0.85	CQQQ	Invesco China Technology	Pair Corr
0.78	TSMX	Direxion Daily TSM	Pair Corr
0.85	BAI	BlackRock ETF Trust	Pair Corr
0.82	AVMU	Avantis Core Municipal	Pair Corr
0.69	SGDJ	Sprott Junior Gold	Pair Corr
0.76	MAVF	EA Series Trust	Pair Corr
0.78	HAP	VanEck Natural Resources	Pair Corr
0.65	GLD	SPDR Gold Shares	Pair Corr
0.82	QGRD	Horizon Nasdaq 100	Pair Corr
0.88	CRTC	Xtrackers National	Pair Corr
0.63	ICLN	iShares Global Clean	Pair Corr
0.82	VGT	Vanguard Information	Pair Corr
0.75	SMOG	VanEck Low Carbon	Pair Corr
0.78	THRO	iShares Thematic Rotation	Pair Corr
0.78	PJAN	Innovator SP 500	Pair Corr
0.86	RSMV	Listed Funds Trust	Pair Corr

Moving against ProShares Etf

0.7	VIXY	ProShares VIX Short	Pair Corr
0.46	LBAY	Tidal ETF Trust	Pair Corr

Related Correlations Analysis

	PSWD	RHTX	FLJJ	EUDV	BDVG	BNGE	EAOK	IVRS	SPUT	SLJY
PSWD		0.74	0.64	0.39	0.68	0.77	0.62	0.63	0.67	0.43	PSWD
RHTX	0.74		0.94	0.46	0.76	0.49	0.89	0.28	0.93	0.5	RHTX
FLJJ	0.64	0.94		0.3	0.72	0.32	0.91	0.05	0.99	0.39	FLJJ
EUDV	0.39	0.46	0.3		0.43	0.51	0.35	0.56	0.25	0.21	EUDV
BDVG	0.68	0.76	0.72	0.43		0.54	0.85	0.46	0.74	0.37	BDVG
BNGE	0.77	0.49	0.32	0.51	0.54		0.36	0.86	0.34	0.26	BNGE
EAOK	0.62	0.89	0.91	0.35	0.85	0.36		0.12	0.9	0.41	EAOK
IVRS	0.63	0.28	0.05	0.56	0.46	0.86	0.12		0.08	0.23	IVRS
SPUT	0.67	0.93	0.99	0.25	0.74	0.34	0.9	0.08		0.39	SPUT
SLJY	0.43	0.5	0.39	0.21	0.37	0.26	0.41	0.23	0.39		SLJY
	PSWD	RHTX	FLJJ	EUDV	BDVG	BNGE	EAOK	IVRS	SPUT	SLJY

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ProShares Long Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Long 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 Long'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
PSWD	1.01	0.13	0.00	(0.24)	1.44	(1.01)	2.22	(2.39)	7.10
RHTX	0.62	0.10	(0.01)	(0.37)	0.71	(0.68)	1.43	(1.00)	4.21
FLJJ	0.15	0.03	(0.28)	(0.39)	0.02	(0.17)	0.35	(0.26)	1.38
EUDV	0.56	0.00	(0.12)	0.09	0.79	(0.51)	0.98	(1.08)	2.89
BDVG	0.39	(0.03)	(0.11)	0.05	0.40	(0.46)	0.96	(0.71)	2.63
BNGE	0.78	0.00	(0.09)	0.33	0.99	(0.85)	1.49	(1.41)	5.63
EAOK	0.21	0.02	(0.18)	0.14	0.00	(0.25)	0.49	(0.32)	1.52
IVRS	0.78	(0.07)	0.00	2.53	0.00	0.00	1.17	(2.04)	6.34
SPUT	0.29	0.06	(0.07)	(0.43)	0.36	(0.31)	0.59	(0.52)	2.73
SLJY	32.77	17.65	6.09	(2.09)	0.00	(32.03)	3.29	(3.55)	1,009

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