ProShares Hedge Correlations

HDG Etf

USD 50.74 0.03 0.06%

The current 90-days correlation between ProShares Hedge Repl and ProShares Merger ETF is 0.07 (i.e., Significant diversification). The correlation of ProShares Hedge 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 Hedge Correlation With Market

Very good diversification

The correlation between ProShares Hedge Replication and DJI is -0.21 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Hedge Replication and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ProShares Hedge Replication. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in banks.

Moving together with ProShares Etf

0.99	QAI	IQ Hedge Multi	Pair Corr
0.67	FLSP	Franklin Liberty Sys	Pair Corr
0.94	LALT	Invesco Multi Strategy	Pair Corr
0.96	HFND	Tidal Trust I	Pair Corr
0.91	USD	ProShares Ultra Semi	Pair Corr
0.7	GBTC	Grayscale Bitcoin Trust Sell-off Trend	Pair Corr
0.9	FNGO	MicroSectors FANG Index	Pair Corr
0.67	BITO	ProShares Bitcoin Sell-off Trend	Pair Corr
0.87	DFEN	Direxion Daily Aerospace	Pair Corr
0.89	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.89	BULZ	MicroSectors Solactive	Pair Corr
0.88	FNGG	Direxion Daily Select	Pair Corr
0.85	BITS	Global X Blockchain	Pair Corr
0.87	DRSK	Aptus Defined Risk	Pair Corr
0.89	CAT	Caterpillar	Pair Corr
0.73	MMM	3M Company	Pair Corr
0.79	AA	Alcoa Corp	Pair Corr
0.87	BA	Boeing	Pair Corr
0.8	MSFT	Microsoft	Pair Corr
0.82	GE	GE Aerospace	Pair Corr
0.81	BAC	Bank of America Aggressive Push	Pair Corr
0.82	HD	Home Depot	Pair Corr
0.9	CVX	Chevron Corp	Pair Corr

Moving against ProShares Etf

0.61	PG	Procter Gamble	Pair Corr
0.56	IBM	International Business	Pair Corr

Related Correlations Analysis

	MRGR	QAI	CSM	MNA	RINF
MRGR		0.9	0.89	0.92	0.12	MRGR
QAI	0.9		0.99	0.94	0.26	QAI
CSM	0.89	0.99		0.95	0.23	CSM
MNA	0.92	0.94	0.95		0.1	MNA
RINF	0.12	0.26	0.23	0.1		RINF
	MRGR	QAI	CSM	MNA	RINF

ProShares Hedge Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Hedge 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 Hedge'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
MRGR	0.11	0.04	(0.54)	(0.64)	0.00	(0.13)	0.24	(0.19)	0.82
QAI	0.18	0.06	(0.24)	(1.45)	0.00	(0.22)	0.50	(0.27)	1.16
CSM	0.49	0.20	0.12	(0.65)	0.16	(0.59)	1.24	(0.93)	3.67
MNA	0.21	0.03	(0.28)	3.01	0.16	(0.23)	0.37	(0.37)	1.52
RINF	0.30	(0.01)	(0.29)	(0.14)	0.34	(0.31)	0.70	(0.52)	1.64

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