ProShares Trust Correlations

FB Etf

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The current 90-days correlation between ProShares Trust ProShares and First Trust S Network is 0.08 (i.e., Significant 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 poor diversification

The correlation between ProShares Trust ProShares and DJI is 0.87 (i.e., Very poor 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.

Moving together with ProShares Etf

0.8	VTI	Vanguard Total Stock	Pair Corr
0.72	VPL	Vanguard FTSE Pacific	Pair Corr
0.83	VBK	Vanguard Small Cap	Pair Corr
0.76	PTA	Cohen Steers Tax	Pair Corr
0.78	FINT	Advisors Inner	Pair Corr
0.93	UMAY	Innovator ETFs Trust	Pair Corr
0.61	RJDI	Carillon Series Trust	Pair Corr
0.93	GAPR	First Trust Exchange	Pair Corr
0.7	UCIB	UBS AG London	Pair Corr
0.82	IEFA	iShares Core MSCI	Pair Corr
0.82	JKI	iShares Morningstar Mid	Pair Corr
0.85	FLOW	Global X Funds	Pair Corr
0.88	DALI	First Trust Dorsey	Pair Corr
0.9	QUSA	VistaShares Target	Pair Corr
0.91	NJNK	Columbia ETF Trust	Pair Corr
0.79	GLDY	Defiance Gold Enhanced	Pair Corr
0.89	DJUL	FT Cboe Vest	Pair Corr
0.73	ADVE	Matthews International	Pair Corr
0.67	OACP	OneAscent Core Plus	Pair Corr
0.87	BSMP	Invesco	Pair Corr
0.71	XHYE	BondBloxx ETF Trust	Pair Corr

Related Correlations Analysis

	DIVG	EMIF	MLDR	HIYS	MTUL	MOTO	MAPP	VICE	GGRW	BNGE
DIVG		0.96	0.2	0.47	0.04	0.93	0.89	0.76	-0.54	-0.5	DIVG
EMIF	0.96		0.24	0.55	0.07	0.92	0.88	0.76	-0.57	-0.58	EMIF
MLDR	0.2	0.24		0.58	-0.28	0.03	-0.03	-0.14	-0.63	-0.72	MLDR
HIYS	0.47	0.55	0.58		0.06	0.42	0.41	0.27	-0.57	-0.79	HIYS
MTUL	0.04	0.07	-0.28	0.06		0.33	0.41	0.28	0.47	0.28	MTUL
MOTO	0.93	0.92	0.03	0.42	0.33		0.97	0.8	-0.34	-0.33	MOTO
MAPP	0.89	0.88	-0.03	0.41	0.41	0.97		0.83	-0.26	-0.26	MAPP
VICE	0.76	0.76	-0.14	0.27	0.28	0.8	0.83		-0.29	-0.17	VICE
GGRW	-0.54	-0.57	-0.63	-0.57	0.47	-0.34	-0.26	-0.29		0.81	GGRW
BNGE	-0.5	-0.58	-0.72	-0.79	0.28	-0.33	-0.26	-0.17	0.81		BNGE
	DIVG	EMIF	MLDR	HIYS	MTUL	MOTO	MAPP	VICE	GGRW	BNGE

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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

MAPP	+ 0.97	MOTO
EMIF	+ 0.96	DIVG
MOTO	+ 0.93	DIVG
MOTO	+ 0.92	EMIF
MAPP	+ 0.89	DIVG
MAPP	+ 0.88	EMIF

High negative correlations

BNGE	- 0.79	HIYS
BNGE	- 0.72	MLDR
GGRW	- 0.63	MLDR
BNGE	- 0.58	EMIF
GGRW	- 0.57	HIYS
GGRW	- 0.57	EMIF

ProShares Trust Constituents 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
DIVG	0.59	0.11	0.14	0.26	0.33	(0.71)	1.54	(0.94)	3.20
EMIF	0.73	0.19	0.18	0.55	0.49	(0.89)	1.85	(1.41)	4.20
MLDR	0.13	0.00	(0.58)	(0.27)	0.08	(0.15)	0.24	(0.20)	0.65
HIYS	0.10	0.02	(0.51)	(2.35)	0.00	(0.13)	0.27	(0.23)	0.59
MTUL	1.97	(0.06)	(0.01)	0.05	2.85	(1.93)	4.04	(5.06)	13.34
MOTO	0.86	0.19	0.16	0.27	0.82	(0.96)	1.95	(1.89)	4.73
MAPP	0.44	0.06	0.02	0.19	0.42	(0.47)	0.81	(0.82)	2.87
VICE	0.55	0.01	(0.06)	0.10	0.62	(0.55)	1.33	(1.11)	3.90
GGRW	0.70	(0.02)	0.00	0.19	0.00	0.00	1.13	(2.07)	4.77
BNGE	0.86	(0.37)	0.00	(0.36)	0.00	0.00	1.35	(2.69)	5.83

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