ProShares Trust Correlations

BITI Etf

USD 23.13 0.98 4.06%

The current 90-days correlation between ProShares Trust and Invesco DB Dollar is -0.03 (i.e., Good diversification). The correlation of ProShares Trust is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

ProShares Trust Correlation With Market

Excellent diversification

The correlation between ProShares Trust and DJI is -0.55 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Trust and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ProShares Trust . Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

For more detail on how to invest in ProShares Etf please use our How to Invest in ProShares Trust guide.

Moving together with ProShares Etf

0.66	VIXM	ProShares VIX Mid	Pair Corr
0.87	UDN	Invesco DB Dollar	Pair Corr
0.81	VIIX	VIIX	Pair Corr
0.66	VXZ	iPath Series B	Pair Corr
0.84	YCL	ProShares Ultra Yen	Pair Corr
0.87	ULE	ProShares Ultra Euro	Pair Corr
0.84	FXY	Invesco CurrencyShares	Pair Corr
0.9	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.67	BA	Boeing Fiscal Year End 29th of January 2025	Pair Corr
0.84	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.89	KO	Coca Cola Aggressive Push	Pair Corr

Moving against ProShares Etf

0.91	SIXD	AIM ETF Products	Pair Corr
0.89	UUP	Invesco DB Dollar	Pair Corr
0.88	EUO	ProShares UltraShort Euro	Pair Corr
0.86	TSJA	TSJA	Pair Corr
0.85	YCS	ProShares UltraShort Yen	Pair Corr
0.84	DSJA	DSJA	Pair Corr
0.67	T	ATT Inc Aggressive Push	Pair Corr
0.57	CEFD	ETRACS Monthly Pay	Pair Corr
0.94	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.92	DIS	Walt Disney Aggressive Push	Pair Corr
0.88	CSCO	Cisco Systems	Pair Corr
0.84	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.84	WMT	Walmart Aggressive Push	Pair Corr
0.81	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.78	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.71	HPQ	HP Inc	Pair Corr
0.61	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.58	-0.01	0.64	0.02	0.73	0.31	-0.58	0.74	META
MSFT	0.27		0.22	0.12	0.18	-0.03	0.04	-0.16	0.1	-0.18	MSFT
UBER	0.58	0.22		0.0	0.09	0.23	0.12	-0.03	-0.01	0.42	UBER
F	-0.01	0.12	0.0		-0.03	-0.36	0.33	0.61	-0.22	0.27	F
T	0.64	0.18	0.09	-0.03		-0.44	0.7	0.43	-0.73	0.38	T
A	0.02	-0.03	0.23	-0.36	-0.44		-0.45	-0.64	0.62	0.02	A
CRM	0.73	0.04	0.12	0.33	0.7	-0.45		0.8	-0.92	0.67	CRM
JPM	0.31	-0.16	-0.03	0.61	0.43	-0.64	0.8		-0.82	0.48	JPM
MRK	-0.58	0.1	-0.01	-0.22	-0.73	0.62	-0.92	-0.82		-0.55	MRK
XOM	0.74	-0.18	0.42	0.27	0.38	0.02	0.67	0.48	-0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.8	CRM
XOM	+ 0.74	META
CRM	+ 0.73	META
CRM	+ 0.7	T
XOM	+ 0.67	CRM
T	+ 0.64	META

High negative correlations

MRK	- 0.92	CRM
MRK	- 0.82	JPM
MRK	- 0.73	T
JPM	- 0.64	A
MRK	- 0.58	META
XOM	- 0.55	MRK

ProShares Trust Competition Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Trust 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 Trust'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	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.07	0.05	0.02	0.16	1.41	(1.15)	2.62	(3.15)	8.02
MSFT	0.89	(0.10)	0.00	(0.05)	0.00	0.00	2.08	(2.03)	8.19
UBER	1.56	(0.15)	0.00	(0.06)	0.00	0.00	2.53	(2.44)	20.10
F	1.40	(0.09)	(0.02)	0.02	2.20	(1.37)	2.53	(2.90)	11.72
T	0.91	0.26	0.16	(47.59)	0.84	(1.03)	2.56	(1.72)	6.47
A	1.09	(0.16)	0.00	(0.27)	0.00	0.00	2.11	(2.42)	9.02
CRM	1.25	0.24	0.20	0.30	0.94	(1.47)	3.18	(1.91)	9.09
JPM	1.09	0.03	0.06	0.10	1.43	(1.11)	2.05	(2.00)	15.87
MRK	0.83	(0.26)	0.00	(1.64)	0.00	0.00	1.68	(2.13)	4.89
XOM	1.03	0.04	0.00	0.15	1.22	(1.09)	2.14	(2.09)	5.78

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