ProShares Trust Correlations

Etfs . Mexico . 
Etf . ProShares Trust
DOG Etf  MXN 396.06  14.14  3.45%   
The current 90-days correlation between ProShares Trust and Vanguard International Equity is 0.12 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Trust Correlation With Market

Excellent diversification

The correlation between ProShares Trust and DJI is -0.65 (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.
  
The ability to find closely correlated positions to ProShares Trust 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 Trust 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 Trust - 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 Trust to buy it.

Moving together with ProShares Etf

  0.71VTI Vanguard Index FundsPairCorr
  0.78VOO Vanguard SP 500PairCorr
  0.75SPY SPDR SP 500PairCorr
  0.8IVV iShares TrustPairCorr
  0.83BND Vanguard Bond IndexPairCorr
  0.78QQQ Invesco QQQ TrustPairCorr
  0.88EDZ Direxion Shares ETFPairCorr
  0.67ITOT iShares Core SPPairCorr
  0.83HYG iShares TrustPairCorr

Moving against ProShares Etf

  0.86DIG ProShares TrustPairCorr
  0.85ILF iShares TrustPairCorr
  0.81IYE iShares TrustPairCorr
  0.73HYEM Vaneck Vectors EmergingPairCorr
  0.72VEA Vanguard Tax ManagedPairCorr
  0.69VXUS Vanguard STAR FundsPairCorr
  0.67TWM ProShares TrustPairCorr
  0.67SCC Proshares UltrashortPairCorr
  0.49VWO Vanguard InternationalPairCorr
  0.82VDC Vanguard WorldPairCorr
  0.8EWZ iShares MSCI BrazilPairCorr
  0.79GDX VanEck Vectors ETFPairCorr
  0.79MVEU iShares Edge MSCIPairCorr
  0.77GDXJ VanEck Vectors ETFPairCorr
  0.77XLP Select SectorPairCorr
  0.75XRT SPDR Series TrustPairCorr
  0.72SMH Vaneck Vectors SemicPairCorr
  0.66EWJ iShares MSCI JapanPairCorr
  0.65HEZU iShares TrustPairCorr
  0.64ITA iShares TrustPairCorr
  0.57KRE SPDR SP RegionalPairCorr
  0.55VGK Vanguard InternationalPairCorr
  0.52EZU iShares iSharesPairCorr
  0.49EDV Vanguard WorldPairCorr

Related Correlations Analysis


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

XOM
+ 0.82
MRK
CRM
+ 0.81
MSFT
UBER
+ 0.8
MSFT
A
+ 0.78
UBER
A
+ 0.71
MSFT
MRK
+ 0.68
F
  

High negative correlations

XOM
- 0.91
MSFT
MRK
- 0.85
MSFT
XOM
- 0.81
CRM
MRK
- 0.8
UBER
XOM
- 0.78
A
CRM
- 0.75
T

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.51  0.00 (0.02) 0.06  1.53 
(1.82)
 3.43 
(2.82)
 13.69 
MSFT  1.32 (0.36) 0.00 (0.92) 0.00 
 0.00 
 1.90 
(2.74)
 13.28 
UBER  1.50 (0.46) 0.00 (0.90) 0.00 
 0.00 
 2.41 
(3.82)
 11.09 
F  1.22  0.07  0.05  0.14  1.20 
(1.48)
 3.34 
(2.30)
 7.16 
T  1.02  0.23  0.17  3.71  0.77 
(1.19)
 3.87 
(1.54)
 5.31 
A  1.27 (0.30) 0.00 (0.17) 0.00 
 0.00 
 2.90 
(2.73)
 7.85 
CRM  1.68 (0.41) 0.00 (0.35) 0.00 
 0.00 
 2.94 
(4.75)
 12.37 
JPM  1.26 (0.15) 0.00 (0.04) 0.00 
 0.00 
 2.34 
(3.11)
 7.38 
MRK  1.35  0.49  0.35  0.77  0.97 
(1.72)
 3.59 
(1.98)
 8.74 
XOM  1.24  0.36  0.22  1.65  1.11 
(1.42)
 2.68 
(2.12)
 6.83 

Be your own money manager

Our tools can tell you how much better you can do entering a position in ProShares Trust 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.

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