Correlation Between Barclays Capital and ProShares
Can any of the company-specific risk be diversified away by investing in both Barclays Capital and ProShares 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 Barclays Capital and ProShares into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Barclays Capital and ProShares K 1 Free, you can compare the effects of market volatilities on Barclays Capital and ProShares 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 Barclays Capital with a short position of ProShares. Check out your portfolio center. Please also check ongoing floating volatility patterns of Barclays Capital and ProShares.
Diversification Opportunities for Barclays Capital and ProShares
0.0 | Correlation Coefficient |
Pay attention - limited upside
The 3 months correlation between Barclays and ProShares is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding Barclays Capital and ProShares K 1 Free in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on ProShares K 1 and Barclays Capital 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 Barclays Capital are associated (or correlated) with ProShares. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ProShares K 1 has no effect on the direction of Barclays Capital i.e., Barclays Capital and ProShares go up and down completely randomly.
Pair Corralation between Barclays Capital and ProShares
If you would invest 4,719 in ProShares K 1 Free on January 26, 2024 and sell it today you would earn a total of 125.00 from holding ProShares K 1 Free or generate 2.65% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Flat |
| Strength | Insignificant |
| Accuracy | 4.76% |
| Values | Daily Returns |
Barclays Capital vs. ProShares K 1 Free
Performance |
| Timeline |
| Barclays Capital |
Risk-Adjusted Performance
0 of 100
Weak | Strong |
Very Weak
| ProShares K 1 |
Barclays Capital and ProShares Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Barclays Capital and ProShares
The main advantage of trading using opposite Barclays Capital and ProShares positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Barclays Capital position performs unexpectedly, ProShares 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 will offset losses from the drop in ProShares' long position.| Barclays Capital vs. United States Oil | Barclays Capital vs. Invesco DB Oil | Barclays Capital vs. ProShares Ultra Bloomberg | Barclays Capital vs. United States Natural |
| ProShares vs. United States 12 | ProShares vs. Credit Suisse X Links | ProShares vs. Invesco DB Oil | ProShares vs. United States 12 |
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 Technical Analysis module to check basic technical indicators and analysis based on most latest market data.
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