ProShares Nasdaq Correlations

IQQQ Etf

44.87 0.62 1.40%

The current 90-days correlation between ProShares Nasdaq 100 and Pacer Swan SOS is 0.88 (i.e., Very poor diversification). The correlation of ProShares Nasdaq 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 Nasdaq Correlation With Market

Poor diversification

The correlation between ProShares Nasdaq 100 High and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Nasdaq 100 High 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 Nasdaq 100 High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with ProShares Etf

0.76	JEPI	JPMorgan Equity Premium	Pair Corr
0.96	XYLD	Global X SP	Pair Corr
0.92	DIVO	Amplify CWP Enhanced	Pair Corr
0.84	RYLD	Global X Russell	Pair Corr
0.98	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.87	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.9	BUYW	Main Buywrite ETF	Pair Corr
0.9	IDME	International Drawdown Low Volatility	Pair Corr
0.98	UPRO	ProShares UltraPro SP500 Sell-off Trend	Pair Corr
0.97	QTJA	Innovator ETFs Trust	Pair Corr
0.89	QTOC	Innovator ETFs Trust Low Volatility	Pair Corr
0.86	XTOC	Innovator ETFs Trust	Pair Corr
0.95	QTAP	Innovator Growth 100	Pair Corr
0.93	XTJA	Innovator ETFs Trust	Pair Corr
0.93	XTAP	Innovator Equity Acc	Pair Corr
0.87	ANEW	ProShares MSCI Trans	Pair Corr
0.94	PJUN	Innovator SP 500	Pair Corr
0.83	LITP	Sprott Lithium Miners	Pair Corr
0.88	GLD	SPDR Gold Shares	Pair Corr
0.94	GE	GE Aerospace Earnings Call Today	Pair Corr
0.79	JPM	JPMorgan Chase	Pair Corr
0.77	AXP	American Express	Pair Corr
0.85	CAT	Caterpillar	Pair Corr
0.74	BAC	Bank of America Aggressive Push	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.7	IBM	International Business Earnings Call Tomorrow	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr

Moving against ProShares Etf

0.35	SIXH	ETC 6 Meridian	Pair Corr
0.48	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.39	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.37	VZ	Verizon Communications	Pair Corr

Related Correlations Analysis

	PSCX	EGGS	MFUL	NITE	ASHS	NXTI	HEQQ	PWS	BCIL	XNAV
PSCX		0.89	0.98	0.97	0.95	0.96	0.99	0.93	-0.67	0.96	PSCX
EGGS	0.89		0.91	0.91	0.8	0.9	0.92	0.95	-0.72	0.95	EGGS
MFUL	0.98	0.91		0.97	0.94	0.95	0.99	0.92	-0.67	0.97	MFUL
NITE	0.97	0.91	0.97		0.94	0.97	0.97	0.93	-0.68	0.95	NITE
ASHS	0.95	0.8	0.94	0.94		0.91	0.94	0.84	-0.64	0.89	ASHS
NXTI	0.96	0.9	0.95	0.97	0.91		0.95	0.9	-0.64	0.93	NXTI
HEQQ	0.99	0.92	0.99	0.97	0.94	0.95		0.93	-0.72	0.97	HEQQ
PWS	0.93	0.95	0.92	0.93	0.84	0.9	0.93		-0.75	0.97	PWS
BCIL	-0.67	-0.72	-0.67	-0.68	-0.64	-0.64	-0.72	-0.75		-0.72	BCIL
XNAV	0.96	0.95	0.97	0.95	0.89	0.93	0.97	0.97	-0.72		XNAV
	PSCX	EGGS	MFUL	NITE	ASHS	NXTI	HEQQ	PWS	BCIL	XNAV

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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

HEQQ	+ 0.99	PSCX
HEQQ	+ 0.99	MFUL
MFUL	+ 0.98	PSCX
NITE	+ 0.97	PSCX
NITE	+ 0.97	MFUL
XNAV	+ 0.97	MFUL

High negative correlations

BCIL	- 0.75	PWS
XNAV	- 0.72	BCIL
BCIL	- 0.72	HEQQ
BCIL	- 0.72	EGGS
BCIL	- 0.68	NITE
BCIL	- 0.67	MFUL

ProShares Nasdaq Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Nasdaq 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 Nasdaq'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
PSCX	0.22	0.02	(0.06)	0.12	0.15	(0.25)	0.58	(0.37)	1.74
EGGS	0.77	0.09	0.06	0.20	0.91	(0.81)	1.67	(1.84)	4.77
MFUL	0.11	0.01	(0.33)	0.12	0.00	(0.14)	0.23	(0.18)	0.87
NITE	0.81	0.08	0.07	0.13	1.06	(0.81)	1.97	(1.42)	7.89
ASHS	1.19	0.19	0.11	0.27	1.34	(1.30)	3.16	(2.04)	8.94
NXTI	0.63	0.01	0.02	0.08	0.66	(0.70)	1.26	(1.04)	4.43
HEQQ	0.27	0.06	0.05	0.24	0.11	(0.30)	0.79	(0.54)	2.27
PWS	0.51	0.03	0.03	0.11	0.61	(0.51)	1.39	(0.64)	4.22
BCIL	0.54	(0.11)	0.00	(0.11)	0.00	0.00	1.06	(1.18)	2.54
XNAV	0.66	0.09	0.09	0.17	0.68	(0.72)	1.42	(1.10)	5.15

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