ProShares Trust Correlations

EETH Etf

25.52 1.41 5.24%

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

Very good diversification

The correlation between ProShares Trust and DJI is -0.5 (i.e., Very good 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.

Build AI portfolio with ProShares Etf

Check out Investing Opportunities 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 population.

Moving together with ProShares Etf

0.99	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.99	BITO	ProShares Bitcoin Aggressive Push	Pair Corr
0.81	SPBC	Simplify Equity PLUS	Pair Corr
0.96	BTC	Grayscale Bitcoin Mini	Pair Corr
1.0	BTF	CoinShares Bitcoin and	Pair Corr
0.61	MPAY	Exchange Traded Concepts	Pair Corr

Moving against ProShares Etf

0.87	SEA	US Global Sea	Pair Corr
0.85	DFIV	Dimensional International	Pair Corr
0.84	FMHI	First Trust Municipal	Pair Corr
0.84	DXJ	WisdomTree Japan Hedged	Pair Corr
0.84	SCDV	ETF Series Solutions	Pair Corr
0.81	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.78	USO	United States Oil	Pair Corr
0.78	CFA	VictoryShares 500	Pair Corr
0.78	ESGD	iShares ESG Aware	Pair Corr
0.76	FEM	First Trust Emerging	Pair Corr
0.76	LALT	Invesco Multi Strategy	Pair Corr
0.74	HEEM	iShares Currency Hedged	Pair Corr
0.71	CVMC	Morgan Stanley ETF	Pair Corr
0.71	IAU	iShares Gold Trust	Pair Corr
0.7	UEVM	VictoryShares Emerging	Pair Corr
0.64	BIB	ProShares Ultra Nasdaq	Pair Corr
0.63	QTAP	Innovator Growth 100	Pair Corr
0.63	EAFG	Pacer Funds Trust	Pair Corr
0.61	CPST	Calamos ETF Trust	Pair Corr
0.59	HCMAX	THE HILLMAN FUND	Pair Corr
0.58	AMPD	Tidal ETF Services	Pair Corr
0.44	ITWO	Proshares Russell 2000	Pair Corr
0.35	GOCT	FT Cboe Vest	Pair Corr
0.91	VDC	Vanguard Consumer Staples	Pair Corr
0.86	RHRX	Starboard Investment	Pair Corr
0.86	ISTB	iShares Core 1	Pair Corr
0.86	VYMI	Vanguard International	Pair Corr
0.84	DES	WisdomTree SmallCap	Pair Corr
0.84	STXV	EA Series Trust	Pair Corr
0.83	AVUV	Avantis Small Cap	Pair Corr
0.82	FIDU	Fidelity MSCI Industrials	Pair Corr
0.82	TAXT	Northern Trust Tax	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.09	-0.11	-0.05	0.14	-0.2	-0.05	0.11	-0.01	0.15	META
MSFT	-0.09		0.84	-0.59	-0.87	0.84	0.94	0.44	-0.92	-0.95	MSFT
UBER	-0.11	0.84		-0.54	-0.77	0.87	0.77	0.27	-0.82	-0.83	UBER
F	-0.05	-0.59	-0.54		0.35	-0.46	-0.5	-0.19	0.64	0.59	F
T	0.14	-0.87	-0.77	0.35		-0.76	-0.85	-0.37	0.79	0.8	T
A	-0.2	0.84	0.87	-0.46	-0.76		0.75	0.44	-0.77	-0.86	A
CRM	-0.05	0.94	0.77	-0.5	-0.85	0.75		0.58	-0.86	-0.93	CRM
JPM	0.11	0.44	0.27	-0.19	-0.37	0.44	0.58		-0.29	-0.47	JPM
MRK	-0.01	-0.92	-0.82	0.64	0.79	-0.77	-0.86	-0.29		0.93	MRK
XOM	0.15	-0.95	-0.83	0.59	0.8	-0.86	-0.93	-0.47	0.93		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

CRM	+ 0.94	MSFT
XOM	+ 0.93	MRK
A	+ 0.87	UBER
UBER	+ 0.84	MSFT
A	+ 0.84	MSFT
XOM	+ 0.8	T

High negative correlations

XOM	- 0.95	MSFT
XOM	- 0.93	CRM
MRK	- 0.92	MSFT
T	- 0.87	MSFT
MRK	- 0.86	CRM
XOM	- 0.86	A

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	1.47	0.07	0.03	0.12	1.58	(1.57)	2.38	(2.81)	13.69
MSFT	1.33	(0.28)	0.00	(0.60)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.55	(0.17)	0.00	(0.34)	0.00	0.00	2.70	(3.82)	11.09
F	1.31	(0.03)	0.00	1.61	0.00	0.00	3.61	(2.59)	9.82
T	1.07	0.20	0.14	(0.72)	0.94	(1.26)	3.87	(1.76)	7.44
A	1.22	(0.40)	0.00	(0.38)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.78	(0.27)	0.00	(0.21)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.25	(0.09)	0.00	(0.02)	0.00	0.00	2.34	(3.11)	8.17
MRK	1.20	0.21	0.13	0.55	1.27	(1.26)	2.54	(2.06)	7.10
XOM	1.34	0.41	0.26	3.02	1.14	(1.59)	2.90	(2.44)	6.83

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