ProShares Smart Correlations

TINT Etf

USD 35.69 0.84 2.41%

The current 90-days correlation between ProShares Smart Materials and USCF Sustainable Battery is 0.1 (i.e., Average diversification). The correlation of ProShares Smart 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 Smart Correlation With Market

Poor diversification

The correlation between ProShares Smart Materials and DJI is 0.79 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Smart Materials and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Smart Materials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with ProShares Etf

0.87	XLB	Materials Select Sector	Pair Corr
0.88	VAW	Vanguard Materials Index	Pair Corr
0.87	XME	SPDR SP Metals	Pair Corr
0.62	PHO	Invesco Water Resources	Pair Corr
0.89	MOO	VanEck Agribusiness ETF	Pair Corr
0.88	FXZ	First Trust Materials	Pair Corr
0.79	URNM	Sprott Uranium Miners	Pair Corr
0.84	IYM	iShares Basic Materials	Pair Corr
0.94	PCLN	2023 ETF	Pair Corr
0.9	MDY	SPDR SP MIDCAP	Pair Corr
0.89	SLYG	SPDR SP 600	Pair Corr
0.78	KRMA	Global X Conscious	Pair Corr
0.81	SPY	SPDR SP 500	Pair Corr
0.81	IVV	iShares Core SP	Pair Corr
0.88	SLYV	SPDR SP 600	Pair Corr
0.76	SLV	iShares Silver Trust Aggressive Push	Pair Corr
0.74	HDUS	Lattice Strategies Trust	Pair Corr
0.74	SPUT	Innovator ETFs Trust	Pair Corr
0.89	SMH	VanEck Semiconductor ETF	Pair Corr
0.64	XLF	Financial Select Sector	Pair Corr
0.88	FALN	iShares Fallen Angels	Pair Corr
0.8	HYLB	Xtrackers USD High	Pair Corr
0.81	JEPI	JPMorgan Equity Premium	Pair Corr
0.71	ARLU	AIM ETF Products	Pair Corr
0.84	CEFZ	RiverNorth Active Income	Pair Corr
0.75	FUSI	American Century ETF	Pair Corr
0.67	HEGD	Swan Hedged Equity	Pair Corr
0.88	QTUM	Defiance Quantum ETF	Pair Corr
0.91	DDX	Defined Duration Symbol Change	Pair Corr
0.78	VV	Vanguard Large Cap	Pair Corr
0.72	GQI	Natixis ETF Trust	Pair Corr
0.83	SHLD	Global X Defense Sell-off Trend	Pair Corr
0.75	GAPR	First Trust Exchange	Pair Corr
0.71	SKOR	FlexShares Credit	Pair Corr
0.86	DIHP	Dimensional International	Pair Corr

Moving against ProShares Etf

0.67	EV	NEOS Investment Mana	Pair Corr
0.62	GRI	GRI Bio	Pair Corr

Related Correlations Analysis

	ZSB	CZAR	CTEX	QGRD	WTID	GENW	HFMF	KLXY	BULD	CLOD
ZSB		0.58	0.51	0.03	-0.4	0.89	0.9	0.38	0.67	-0.56	ZSB
CZAR	0.58		0.52	0.47	-0.06	0.56	0.79	0.71	0.73	0.16	CZAR
CTEX	0.51	0.52		0.56	-0.21	0.49	0.69	0.2	0.62	0.11	CTEX
QGRD	0.03	0.47	0.56		-0.06	0.06	0.28	0.09	0.33	0.6	QGRD
WTID	-0.4	-0.06	-0.21	-0.06		-0.42	-0.31	0.08	-0.19	0.44	WTID
GENW	0.89	0.56	0.49	0.06	-0.42		0.79	0.48	0.49	-0.63	GENW
HFMF	0.9	0.79	0.69	0.28	-0.31	0.79		0.55	0.83	-0.25	HFMF
KLXY	0.38	0.71	0.2	0.09	0.08	0.48	0.55		0.52	0.0	KLXY
BULD	0.67	0.73	0.62	0.33	-0.19	0.49	0.83	0.52		0.01	BULD
CLOD	-0.56	0.16	0.11	0.6	0.44	-0.63	-0.25	0.0	0.01		CLOD
	ZSB	CZAR	CTEX	QGRD	WTID	GENW	HFMF	KLXY	BULD	CLOD

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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

HFMF	+ 0.9	ZSB
GENW	+ 0.89	ZSB
BULD	+ 0.83	HFMF
HFMF	+ 0.79	CZAR
HFMF	+ 0.79	GENW
BULD	+ 0.73	CZAR

High negative correlations

CLOD	- 0.63	GENW
CLOD	- 0.56	ZSB
GENW	- 0.42	WTID
WTID	- 0.4	ZSB
HFMF	- 0.31	WTID
CLOD	- 0.25	HFMF

ProShares Smart Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Smart 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 Smart'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
ZSB	1.11	0.44	0.28	24.98	0.80	(1.37)	2.85	(1.84)	8.00
CZAR	0.53	(0.02)	0.00	(0.53)	0.00	0.00	0.82	(1.20)	2.46
CTEX	2.37	0.07	0.00	0.39	3.10	(2.21)	4.83	(5.05)	14.00
QGRD	0.63	(0.01)	(0.10)	(0.04)	0.97	(0.59)	1.22	(1.76)	3.80
WTID	8.21	(0.04)	0.00	0.07	10.92	(8.88)	24.86	(18.28)	63.06
GENW	0.51	0.13	0.07	1.39	0.43	(0.56)	1.19	(0.96)	2.51
HFMF	0.72	0.06	(0.01)	0.26	0.84	(0.76)	1.45	(1.28)	5.11
KLXY	0.96	(0.11)	(0.08)	(0.01)	1.21	(0.96)	1.68	(2.02)	4.86
BULD	1.45	(0.04)	0.02	0.07	1.59	(1.68)	3.56	(2.94)	8.46
CLOD	0.99	(0.21)	0.00	(1.53)	0.00	0.00	1.42	(2.38)	4.75

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