Correlation Analysis Between ProShares K and United States

This module allows you to analyze existing cross correlation between ProShares K 1 Free Crude Oil Strategy and United States Oil. You can compare the effects of market volatilities on ProShares K and United States 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 K with a short position of United States. See also your portfolio center. Please also check ongoing floating volatility patterns of ProShares K and United States.
 Time Horizon     30 Days    Login   to change
Symbolsvs

ProShares K 1 Free Crude Oil S  vs.  United States Oil

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ProShares K 1 Free Crude Oil Strategy is expected to generate 1.26 times more return on investment than United States. However, ProShares K is 1.26 times more volatile than United States Oil. It trades about -0.16 of its potential returns per unit of risk. United States Oil is currently generating about -0.24 per unit of risk. If you would invest  2,613  in ProShares K 1 Free Crude Oil Strategy on May 22, 2018 and sell it today you would lose (234.00)  from holding ProShares K 1 Free Crude Oil Strategy or give up 8.96% of portfolio value over 30 days.

Pair Corralation between ProShares K and United States

0.0
Time Period1 Month [change]
DirectionFlat 
StrengthInsignificant
Accuracy81.48%
ValuesDaily Returns

Diversification

Pay attention

Overlapping area represents the amount of risk that can be diversified away by holding ProShares K 1 Free Crude Oil S and United States Oil in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on United States Oil and ProShares K 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 K 1 Free Crude Oil Strategy are associated (or correlated) with United States. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of United States Oil has no effect on the direction of ProShares K i.e. ProShares K and United States go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
ProShares K 1  
0 

Risk-Adjusted Performance

Over the last 30 days ProShares K 1 Free Crude Oil Strategy has generated negative risk-adjusted returns adding no value to investors with long positions.
United States Oil  
0 

Risk-Adjusted Performance

Over the last 30 days United States Oil has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$1157.66

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Money Managers module to screen money managers from public funds and etfs managed around the world.