ProShares Trust Correlations

EETH Etf

24.31 0.77 3.07%

The current 90-days correlation between ProShares Trust and FT Cboe Vest is 0.44 (i.e., Very weak 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

Very good diversification

The correlation between ProShares Trust and DJI is -0.4 (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 persons.

Moving together with ProShares Etf

0.98	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.97	BITO	ProShares Bitcoin	Pair Corr
0.98	BTC	Grayscale Bitcoin Mini	Pair Corr
1.0	BTF	CoinShares Bitcoin and	Pair Corr
0.83	MSFT	Microsoft	Pair Corr

Moving against ProShares Etf

0.59	KORU	Direxion Daily South Upward Rally	Pair Corr
0.48	MUU	Direxion Daily MU Upward Rally	Pair Corr
0.48	MULL	GraniteShares 2x Long Upward Rally	Pair Corr
0.46	SHNY	Microsectors Gold	Pair Corr
0.44	SIL	Global X Silver	Pair Corr
0.43	GAPR	First Trust Exchange	Pair Corr
0.4	MART	Allianzim Large Cap	Pair Corr
0.39	OASC	OneAscent Small Cap	Pair Corr
0.38	NUGT	Direxion Daily Gold	Pair Corr
0.37	JNUG	Direxion Daily Junior	Pair Corr
0.82	PG	Procter Gamble	Pair Corr
0.8	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.8	JNJ	Johnson Johnson	Pair Corr
0.74	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.74	T	ATT Inc Aggressive Push	Pair Corr
0.71	RDIV	Invesco SP Ultra	Pair Corr
0.69	MRK	Merck Company	Pair Corr
0.68	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr
0.68	CAT	Caterpillar	Pair Corr
0.64	DD	Dupont De Nemours	Pair Corr
0.57	BINC	BlackRock ETF Trust Sell-off Trend	Pair Corr
0.48	AHYB	American Century ETF	Pair Corr
0.38	HD	Home Depot	Pair Corr
0.35	BA	Boeing	Pair Corr
0.34	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.47	-0.53	0.48	0.21	-0.59	-0.11	0.33	0.53	0.48	META
MSFT	-0.47		0.77	-0.48	-0.57	0.67	0.77	-0.01	-0.82	-0.89	MSFT
UBER	-0.53	0.77		-0.42	-0.35	0.75	0.44	-0.17	-0.79	-0.71	UBER
F	0.48	-0.48	-0.42		-0.1	-0.36	-0.14	0.37	0.65	0.57	F
T	0.21	-0.57	-0.35	-0.1		-0.25	-0.7	-0.05	0.28	0.49	T
A	-0.59	0.67	0.75	-0.36	-0.25		0.39	-0.11	-0.58	-0.74	A
CRM	-0.11	0.77	0.44	-0.14	-0.7	0.39		0.41	-0.46	-0.77	CRM
JPM	0.33	-0.01	-0.17	0.37	-0.05	-0.11	0.41		0.26	-0.02	JPM
MRK	0.53	-0.82	-0.79	0.65	0.28	-0.58	-0.46	0.26		0.79	MRK
XOM	0.48	-0.89	-0.71	0.57	0.49	-0.74	-0.77	-0.02	0.79		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

XOM	+ 0.79	MRK
UBER	+ 0.77	MSFT
CRM	+ 0.77	MSFT
A	+ 0.75	UBER
A	+ 0.67	MSFT
MRK	+ 0.65	F

High negative correlations

XOM	- 0.89	MSFT
MRK	- 0.82	MSFT
MRK	- 0.79	UBER
XOM	- 0.77	CRM
XOM	- 0.74	A
XOM	- 0.71	UBER

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	1.48	0.08	0.02	0.24	1.42	(1.77)	3.43	(2.60)	13.69
MSFT	1.34	(0.34)	0.00	(0.74)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.50	(0.44)	0.00	(0.66)	0.00	0.00	2.41	(3.82)	11.09
F	1.21	0.01	0.01	0.11	1.19	(1.48)	3.38	(2.35)	7.16
T	1.00	0.22	0.13	2.45	0.77	(1.17)	3.87	(1.54)	5.31
A	1.21	(0.32)	0.00	(0.16)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.66	(0.47)	0.00	(0.35)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.23	(0.14)	(0.05)	0.00	1.73	(1.28)	2.34	(3.11)	7.38
MRK	1.32	0.45	0.31	0.75	1.00	(1.65)	3.59	(1.98)	8.74
XOM	1.20	0.47	0.29	3.81	0.90	(1.43)	2.69	(2.11)	5.85

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