Correlation Between Macquarie ETF and ProShares Big
Can any of the company-specific risk be diversified away by investing in both Macquarie ETF and ProShares Big 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 Macquarie ETF and ProShares Big into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Macquarie ETF Trust and ProShares Big Data, you can compare the effects of market volatilities on Macquarie ETF and ProShares Big 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 Macquarie ETF with a short position of ProShares Big. Check out your portfolio center. Please also check ongoing floating volatility patterns of Macquarie ETF and ProShares Big.
Diversification Opportunities for Macquarie ETF and ProShares Big
0.75 | Correlation Coefficient |
Poor diversification
The 3 months correlation between Macquarie and ProShares is 0.75. Overlapping area represents the amount of risk that can be diversified away by holding Macquarie ETF Trust and ProShares Big Data in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ProShares Big Data and Macquarie ETF 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 Macquarie ETF Trust are associated (or correlated) with ProShares Big. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ProShares Big Data has no effect on the direction of Macquarie ETF i.e., Macquarie ETF and ProShares Big go up and down completely randomly.
Pair Corralation between Macquarie ETF and ProShares Big
Given the investment horizon of 90 days Macquarie ETF Trust is expected to generate 0.7 times more return on investment than ProShares Big. However, Macquarie ETF Trust is 1.43 times less risky than ProShares Big. It trades about 0.18 of its potential returns per unit of risk. ProShares Big Data is currently generating about 0.03 per unit of risk. If you would invest 2,939 in Macquarie ETF Trust on July 25, 2025 and sell it today you would earn a total of 375.00 from holding Macquarie ETF Trust or generate 12.76% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Significant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Macquarie ETF Trust vs. ProShares Big Data
Performance |
| Timeline |
| Macquarie ETF Trust |
| ProShares Big Data |
Macquarie ETF and ProShares Big Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Macquarie ETF and ProShares Big
The main advantage of trading using opposite Macquarie ETF and ProShares Big positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Macquarie ETF position performs unexpectedly, ProShares Big 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 ProShares Big will offset losses from the drop in ProShares Big's long position.| Macquarie ETF vs. SmartETFs Smart Transportation | Macquarie ETF vs. FlexShares Real Assets | Macquarie ETF vs. Harbor ETF Trust | Macquarie ETF vs. Neuberger Berman ETF |
| 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 |
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 Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
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