ProShares Hedge Correlations
| HDG Etf | USD 48.24 0.11 0.23% |
The correlation of ProShares Hedge is a statistical measure of how it moves in relation to other equities. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Hedge moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Hedge Replication moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ProShares Hedge Replication. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in employment. ProShares |
The ability to find closely correlated positions to ProShares Hedge could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProShares Hedge when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ProShares Hedge - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ProShares Hedge Replication to buy it.
Moving together with ProShares Etf
| + | 0.96 | QAI | IQ Hedge Multi-Strategy | PairCorr | ||
| + | 0.84 | DALT | Anfield Capital Dive | PairCorr | ||
| + | 0.94 | UPRO | ProShares UltraPro SP500 | PairCorr | ||
| + | 0.66 | XTOC | Innovator ETFs Trust | PairCorr | ||
| + | 0.7 | QTAP | Innovator Growth-100 | PairCorr | ||
| + | 0.98 | TSJA | Innovator Triple Stacker | PairCorr | ||
| + | 0.75 | XTJA | Innovator ETFs Trust | PairCorr | ||
| + | 0.73 | DSJA | Innovator Double Stacker | PairCorr | ||
| + | 0.8 | XDJA | Innovator ETFs Trust | PairCorr | ||
| + | 0.85 | XTAP | Innovator US Equity | PairCorr | ||
| + | 0.71 | INTC | Intel | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.82 | GE | General Electric | Fiscal Quarter End 31st of December 2023 | PairCorr | |
| + | 0.82 | JPM | JPMorgan Chase | Aggressive Push | PairCorr | |
| + | 0.78 | HPQ | HP Inc | Fiscal Quarter End 31st of January 2024 | PairCorr |
Related Correlations Analysis
HD | AXP | BA | CAT | MSFT | PFE | JPM | ||
HD | 0.77 | 0.84 | 0.61 | 0.18 | 0.43 | 0.53 | HD | |
AXP | 0.77 | 0.94 | 0.13 | 0.67 | -0.12 | 0.9 | AXP | |
BA | 0.84 | 0.94 | 0.19 | 0.59 | -0.03 | 0.77 | BA | |
CAT | 0.61 | 0.13 | 0.19 | -0.58 | 0.86 | 0.04 | CAT | |
MSFT | 0.18 | 0.67 | 0.59 | -0.58 | -0.68 | 0.67 | MSFT | |
PFE | 0.43 | -0.12 | -0.03 | 0.86 | -0.68 | -0.29 | PFE | |
JPM | 0.53 | 0.9 | 0.77 | 0.04 | 0.67 | -0.29 | JPM | |
HD | AXP | BA | CAT | MSFT | PFE | JPM |
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Correlation Matchups
Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.High positive correlations | High negative correlations |
ProShares Hedge Constituents Risk-Adjusted Indicators
There is a big difference between ProShares Etf performing well and ProShares Hedge ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze ProShares Hedge's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Information Ratio | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| HD | 0.93 | (0.03) | 0.00 | (0.03) | 0.00 | (0.0245) | 0.00 | 1.86 | (1.93) | 6.32 | |
| AXP | 1.01 | 0.11 | 0.07 | 0.09 | 1.41 | 0.08 | (1.04) | 1.99 | (1.85) | 7.04 | |
| BA | 1.14 | 0.08 | 0.05 | 0.08 | 1.37 | 0.05 | (1.12) | 2.67 | (2.43) | 6.01 | |
| CAT | 1.24 | (0.16) | 0.00 | (0.12) | 0.00 | (0.09) | 0.00 | 2.41 | (2.36) | 9.06 | |
| MSFT | 1.08 | 0.19 | 0.13 | 0.37 | 1.27 | 0.14 | (1.10) | 2.35 | (2.40) | 6.82 | |
| PFE | 1.19 | (0.29) | 0.00 | (0.51) | 0.00 | (0.18) | 0.00 | 2.49 | (2.86) | 8.75 | |
| JPM | 0.72 | 0.12 | 0.12 | 0.13 | 0.88 | 0.13 | (0.78) | 1.54 | (1.36) | 5.54 |
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Our tools can tell you how much better you can do entering a position in ProShares Hedge without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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The danger of trading ProShares Hedge Replication is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of ProShares Hedge is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than ProShares Hedge. The Shape ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile ProShares Hedge Repl is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether ProShares Hedge Repl is a strong investment it is important to analyze ProShares Hedge's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact ProShares Hedge's future performance. For an informed investment choice regarding ProShares Etf, refer to the following important reports: Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ProShares Hedge Replication. Also, note that the market value of any ETF could be tightly coupled with the direction of predictive economic indicators such as signals in employment. Note that the ProShares Hedge Repl information on this page should be used as a complementary analysis to other ProShares Hedge's statistical models used 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 Insider Screener module to find insiders across different sectors to evaluate their impact on performance.
Complementary Tools for ProShares Etf analysis
When running ProShares Hedge's price analysis, check to measure ProShares Hedge's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy ProShares Hedge is operating at the current time. Most of ProShares Hedge's value examination focuses on studying past and present price action to predict the probability of ProShares Hedge's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move ProShares Hedge's price. Additionally, you may evaluate how the addition of ProShares Hedge to your portfolios can decrease your overall portfolio volatility.
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The market value of ProShares Hedge Repl is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Hedge's value that differs from its market value or its book value, called intrinsic value, which is ProShares Hedge's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ProShares Hedge's market value can be influenced by many factors that don't directly affect ProShares Hedge's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ProShares Hedge's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Hedge is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Hedge's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.