Correlation Between ProShares Big and Professionally Managed
Can any of the company-specific risk be diversified away by investing in both ProShares Big and Professionally Managed 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 Big and Professionally Managed into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between ProShares Big Data and Professionally Managed Portfolios, you can compare the effects of market volatilities on ProShares Big and Professionally Managed 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 Big with a short position of Professionally Managed. Check out your portfolio center. Please also check ongoing floating volatility patterns of ProShares Big and Professionally Managed.
Diversification Opportunities for ProShares Big and Professionally Managed
0.55 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between ProShares and Professionally is 0.55. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Big Data and Professionally Managed Portfol in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Professionally Managed and ProShares Big 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 Big Data are associated (or correlated) with Professionally Managed. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Professionally Managed has no effect on the direction of ProShares Big i.e., ProShares Big and Professionally Managed go up and down completely randomly.
Pair Corralation between ProShares Big and Professionally Managed
Considering the 90-day investment horizon ProShares Big is expected to generate 1.08 times less return on investment than Professionally Managed. In addition to that, ProShares Big is 2.04 times more volatile than Professionally Managed Portfolios. It trades about 0.04 of its total potential returns per unit of risk. Professionally Managed Portfolios is currently generating about 0.09 per unit of volatility. If you would invest 2,719 in Professionally Managed Portfolios on July 22, 2025 and sell it today you would earn a total of 108.00 from holding Professionally Managed Portfolios or generate 3.97% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
ProShares Big Data vs. Professionally Managed Portfol
Performance |
| Timeline |
| ProShares Big Data |
| Professionally Managed |
ProShares Big and Professionally Managed Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with ProShares Big and Professionally Managed
The main advantage of trading using opposite ProShares Big and Professionally Managed positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if ProShares Big position performs unexpectedly, Professionally Managed 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 Professionally Managed will offset losses from the drop in Professionally Managed's long position.| ProShares Big vs. ProShares On Demand ETF | ProShares Big vs. PGIM Nasdaq 100 Buffer | ProShares Big vs. JPMorgan Fundamental Data | ProShares Big vs. JPMorgan Fundamental Data |
| Professionally Managed vs. Innovator ETFs Trust | Professionally Managed vs. BlackRock Long Term Equity | Professionally Managed vs. First Trust S Network | Professionally Managed vs. Global X Disruptive |
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 Analyst Advice module to analyst recommendations and target price estimates broken down by several categories.
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