ProShares Trust Correlations

ETHT Etf

23.32 2.36 11.26%

The current 90-days correlation between ProShares Trust and ProShares Trust is 1.0 (i.e., No risk reduction). 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

Good diversification

The correlation between ProShares Trust and DJI is -0.03 (i.e., 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.

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 rate.

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

Moving together with ProShares Etf

0.9	VTI	Vanguard Total Stock	Pair Corr
0.89	SPY	SPDR SP 500 Aggressive Push	Pair Corr
0.89	IVV	iShares Core SP	Pair Corr
0.87	VUG	Vanguard Growth Index	Pair Corr
0.67	VO	Vanguard Mid Cap	Pair Corr
0.76	VB	Vanguard Small Cap	Pair Corr
0.67	DSJA	DSJA	Pair Corr
0.86	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.9	AUGP	PGIM Large Cap	Pair Corr
0.71	GJAN	First Trust Exchange	Pair Corr
0.8	XCCC	BondBloxx ETF Trust	Pair Corr
0.73	FNGS	MicroSectors FANG ETN	Pair Corr
0.82	YMAG	YieldMax Magnificent	Pair Corr
0.67	UMI	USCF Midstream Energy	Pair Corr
0.7	HAPR	Innovator Premium Income	Pair Corr
0.63	MINT	PIMCO Enhanced Short	Pair Corr
0.83	SPYG	SPDR Portfolio SP	Pair Corr
0.63	XDEC	First Trust Exchange	Pair Corr
0.67	GMM	Global Mofy Metaverse	Pair Corr
0.84	FTLS	First Trust LongShort	Pair Corr
0.9	WANT	Direxion Daily Cnsmr	Pair Corr
0.92	BITX	Volatility Shares Trust Buyout Trend	Pair Corr
0.91	DAPP	VanEck Digital Trans	Pair Corr
0.93	IGV	iShares Expanded Tech	Pair Corr
0.73	FLDR	Fidelity Low Duration	Pair Corr
0.84	TSLY	Tidal Trust II	Pair Corr

Moving against ProShares Etf

0.36	VWO	Vanguard FTSE Emerging	Pair Corr
0.31	VEA	Vanguard FTSE Developed	Pair Corr
0.51	SOYB	Teucrium Soybean	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.72	-0.55	-0.58	0.32	0.54	0.53	0.32	-0.05	-0.66	META
MSFT	0.72		-0.54	-0.24	0.57	0.2	0.65	0.27	-0.12	-0.48	MSFT
UBER	-0.55	-0.54		0.62	-0.61	0.0	-0.79	-0.59	0.69	0.81	UBER
F	-0.58	-0.24	0.62		0.0	-0.23	-0.2	-0.06	0.19	0.89	F
T	0.32	0.57	-0.61	0.0		-0.05	0.81	0.63	-0.49	-0.27	T
A	0.54	0.2	0.0	-0.23	-0.05		0.08	0.11	0.41	-0.14	A
CRM	0.53	0.65	-0.79	-0.2	0.81	0.08		0.74	-0.62	-0.46	CRM
JPM	0.32	0.27	-0.59	-0.06	0.63	0.11	0.74		-0.63	-0.28	JPM
MRK	-0.05	-0.12	0.69	0.19	-0.49	0.41	-0.62	-0.63		0.35	MRK
XOM	-0.66	-0.48	0.81	0.89	-0.27	-0.14	-0.46	-0.28	0.35		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	+ 0.89	F
XOM	+ 0.81	UBER
CRM	+ 0.81	T
JPM	+ 0.74	CRM
MSFT	+ 0.72	META
MRK	+ 0.69	UBER

High negative correlations

CRM	- 0.79	UBER
XOM	- 0.66	META
MRK	- 0.63	JPM
MRK	- 0.62	CRM
T	- 0.61	UBER
JPM	- 0.59	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	1.36	0.06	0.04	0.20	1.52	(1.56)	3.43	(3.15)	7.43
MSFT	0.91	0.03	0.02	4.35	1.58	(0.86)	2.09	(1.73)	8.14
UBER	1.63	(0.33)	0.00	(5.53)	0.00	0.00	2.67	(5.35)	12.29
F	1.38	(0.07)	0.00	(0.19)	0.00	0.00	2.38	(2.81)	11.21
T	0.96	0.06	0.06	0.17	1.12	(1.04)	1.91	(1.84)	7.96
A	1.18	0.02	0.01	0.04	1.46	(1.29)	2.72	(2.42)	8.06
CRM	1.41	0.17	0.11	0.94	1.45	(1.59)	3.16	(2.88)	14.80
JPM	1.01	0.22	0.17	1.03	1.13	(1.15)	1.81	(1.42)	15.87
MRK	0.96	(0.12)	0.00	(0.43)	0.00	0.00	1.74	(2.13)	5.17
XOM	0.75	(0.15)	0.00	(0.41)	0.00	0.00	1.71	(1.67)	6.06

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