ProShares Trust Correlations

FB Etf

USD 42.31 0.16 0.38%

The current 90-days correlation between ProShares Trust ProShares and Invesco Exchange Traded is -0.16 (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

Very weak diversification

The correlation between ProShares Trust ProShares and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Trust ProShares 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 ProShares. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

For information on how to trade ProShares Etf refer to our How to Trade ProShares Etf guide.

Moving together with ProShares Etf

0.63	PSLV	Sprott Physical Silver Aggressive Push	Pair Corr
0.85	WNTR	YieldMax MSTR Short	Pair Corr
0.68	GMET	VanEck Vectors ETF	Pair Corr
0.63	SPIN	SPDR SSGA Equity	Pair Corr
0.71	CMCI	VanEck CMCI Commodity	Pair Corr
0.67	FMAY	First Trust Exchange	Pair Corr
0.87	DBB	Invesco DB Base	Pair Corr
0.63	BBJP	JPMorgan BetaBuilders	Pair Corr
0.62	FLAO	AIM ETF Products	Pair Corr
0.92	DYLG	Global X Funds	Pair Corr
0.67	DFEV	Dimensional ETF Trust	Pair Corr
0.83	HLAL	Wahed FTSE USA	Pair Corr
0.76	HYGV	FlexShares High Yield	Pair Corr
0.79	WTMU	WisdomTree Core Laddered	Pair Corr
0.74	LCOW	Pacer SP 500	Pair Corr
0.64	GCAD	Gabelli ETFs Trust	Pair Corr
0.62	CCEF	Calamos ETF Trust	Pair Corr
0.75	FDTS	First Trust Developed	Pair Corr
0.63	SPYM	State Street SPDR Symbol Change	Pair Corr
0.62	VIG	Vanguard Dividend	Pair Corr
0.83	VEA	Vanguard FTSE Developed	Pair Corr
0.7	GAPR	First Trust Exchange	Pair Corr
0.79	IGBH	iShares Interest Rate	Pair Corr
0.77	CPSN	Calamos ETF Trust	Pair Corr

Moving against ProShares Etf

0.78	MRAL	GraniteShares 2x Long	Pair Corr
0.77	IMRA	Bitwise Funds Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.54	-0.62	0.54	-0.57	0.22	-0.15	-0.56	-0.61	META
MSFT	0.66		0.83	-0.51	0.36	-0.2	0.07	-0.32	-0.77	-0.61	MSFT
UBER	0.54	0.83		-0.61	0.57	-0.27	-0.14	-0.27	-0.85	-0.59	UBER
F	-0.62	-0.51	-0.61		-0.7	0.53	0.3	0.41	0.69	0.75	F
T	0.54	0.36	0.57	-0.7		-0.52	-0.5	-0.21	-0.53	-0.47	T
A	-0.57	-0.2	-0.27	0.53	-0.52		-0.18	-0.26	0.46	0.23	A
CRM	0.22	0.07	-0.14	0.3	-0.5	-0.18		0.37	0.07	0.17	CRM
JPM	-0.15	-0.32	-0.27	0.41	-0.21	-0.26	0.37		0.32	0.41	JPM
MRK	-0.56	-0.77	-0.85	0.69	-0.53	0.46	0.07	0.32		0.65	MRK
XOM	-0.61	-0.61	-0.59	0.75	-0.47	0.23	0.17	0.41	0.65		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

UBER	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.69	F
MSFT	+ 0.66	META
XOM	+ 0.65	MRK
T	+ 0.57	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.7	F
F	- 0.62	META
F	- 0.61	UBER
XOM	- 0.61	MSFT

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	1.39	(0.24)	0.00	(0.19)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.69	(1.65)	3.38	(2.63)	16.30
T	0.97	(0.24)	0.00	(0.75)	0.00	0.00	1.61	(2.18)	5.75
A	1.25	0.07	0.06	0.13	1.31	(1.37)	2.34	(2.21)	11.03
CRM	1.54	0.06	0.03	0.13	1.97	(1.52)	3.66	(2.92)	9.91
JPM	1.05	0.00	0.01	0.07	1.40	(1.05)	2.00	(1.91)	7.02
MRK	1.45	0.40	0.28	0.53	1.08	(1.84)	4.85	(2.06)	11.45
XOM	0.94	0.06	0.01	0.33	0.99	(1.00)	1.96	(1.51)	4.99

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