Correlation Between ProShares Trust and J P
Can any of the company-specific risk be diversified away by investing in both ProShares Trust and J P at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining ProShares Trust and J P into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ProShares Trust and J P Morgan, you can compare the effects of market volatilities on ProShares Trust and J P and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in ProShares Trust with a short position of J P. Check out your portfolio center. Please also check ongoing floating volatility patterns of ProShares Trust and J P.
Diversification Opportunities for ProShares Trust and J P
-0.45 | Correlation Coefficient |
Very good diversification
The 3 months correlation between ProShares and JPLD is -0.45. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Trust and J P Morgan in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on J P Morgan and ProShares Trust is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on ProShares Trust are associated (or correlated) with J P. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of J P Morgan has no effect on the direction of ProShares Trust i.e., ProShares Trust and J P go up and down completely randomly.
Pair Corralation between ProShares Trust and J P
Given the investment horizon of 90 days ProShares Trust is expected to under-perform the J P. In addition to that, ProShares Trust is 39.21 times more volatile than J P Morgan. It trades about -0.06 of its total potential returns per unit of risk. J P Morgan is currently generating about 0.26 per unit of volatility. If you would invest 5,154 in J P Morgan on July 19, 2025 and sell it today you would earn a total of 92.00 from holding J P Morgan or generate 1.79% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ProShares Trust vs. J P Morgan
Performance |
| Timeline |
| ProShares Trust |
| J P Morgan |
ProShares Trust and J P Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ProShares Trust and J P
The main advantage of trading using opposite ProShares Trust and J P positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ProShares Trust position performs unexpectedly, J P can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in J P will offset losses from the drop in J P's long position.| ProShares Trust vs. DOJE | ProShares Trust vs. Grayscale Funds Trust | ProShares Trust vs. ProShares Trust | ProShares Trust vs. Hashdex Nasdaq Crypto |
| J P vs. Columbia Diversified Fixed | J P vs. Doubleline Etf Trust | J P vs. Virtus Newfleet ABSMBS | J P vs. Vident Core Bond |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Competition Analyzer module to analyze and compare many basic indicators for a group of related or unrelated entities.
Other Complementary Tools
| Insider Screener Find insiders across different sectors to evaluate their impact on performance | |
| Balance Of Power Check stock momentum by analyzing Balance Of Power indicator and other technical ratios | |
| FinTech Suite Use AI to screen and filter profitable investment opportunities | |
| Top Crypto Exchanges Search and analyze digital assets across top global cryptocurrency exchanges | |
| Volatility Analysis Get historical volatility and risk analysis based on latest market data |