ProShares Trust Correlations

FB Etf

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The current 90-days correlation between ProShares Trust ProShares and First Trust S Network is 0.02 (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

Almost no diversification

The correlation between ProShares Trust ProShares and DJI is 0.9 (i.e., Almost no 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

0.96	JANT	AIM ETF Products	Pair Corr
0.84	ARB	AltShares Trust	Pair Corr
0.73	GLBL	Pacer Funds Trust	Pair Corr
0.94	GPGCX	Grandeur Peak Global	Pair Corr
0.84	TAXF	American Century Div	Pair Corr
0.92	IBMQ	iShares Trust	Pair Corr
0.69	XOMO	Yieldmax XOM Option	Pair Corr
0.9	JANH	Innovator Equity Premium	Pair Corr
0.93	HYUP	Xtrackers High Beta	Pair Corr
0.8	TFPN	Blueprint Chesapeake	Pair Corr
0.83	GDXU	MicroSectors Gold Miners	Pair Corr
0.71	EEMX	SPDR MSCI Emerging	Pair Corr
0.82	SGOL	abrdn Physical Gold	Pair Corr
0.85	MOOD	Relative Sentiment	Pair Corr
0.85	FSEP	FT Cboe Vest	Pair Corr
0.88	SIVR	abrdn Physical Silver	Pair Corr
0.84	UDOW	ProShares UltraPro Dow30	Pair Corr
0.95	JETU	Bank of Montreal	Pair Corr
0.8	RZG	Invesco SP SmallCap	Pair Corr
0.93	TAXS	Northern Trust Short	Pair Corr
0.92	IWD	iShares Russell 1000	Pair Corr
0.76	EPEM	Harbor ETF Trust	Pair Corr
0.91	MMSD	New York Life	Pair Corr
0.7	TSMU	GraniteShares 2x Long	Pair Corr
0.94	IBHG	iShares iBonds 2027	Pair Corr
0.9	SHAG	WisdomTree Yield Enhanced	Pair Corr
0.85	GLDX	USCF Gold Strategy	Pair Corr
0.9	DHSB	Strategy Shares	Pair Corr
0.8	ENOR	iShares MSCI Norway Low Volatility	Pair Corr
0.87	GDX	VanEck Gold Miners Aggressive Push	Pair Corr
0.85	LIT	Global X Lithium	Pair Corr
0.85	KCE	SPDR SP Capital	Pair Corr
0.93	SPVM	Invesco SP 500	Pair Corr

Related Correlations Analysis

	DIVG	EMIF	MLDR	HIYS	MTUL	MOTO	MAPP	VICE	GGRW	BNGE
DIVG		0.78	0.43	0.91	0.53	0.79	0.9	0.25	-0.05	-0.44	DIVG
EMIF	0.78		0.22	0.84	0.3	0.71	0.78	0.0	-0.19	-0.75	EMIF
MLDR	0.43	0.22		0.45	-0.02	0.0	0.28	-0.18	-0.19	-0.23	MLDR
HIYS	0.91	0.84	0.45		0.54	0.8	0.93	0.07	0.01	-0.56	HIYS
MTUL	0.53	0.3	-0.02	0.54		0.7	0.73	0.56	0.56	0.23	MTUL
MOTO	0.79	0.71	0.0	0.8	0.7		0.9	0.33	0.34	-0.26	MOTO
MAPP	0.9	0.78	0.28	0.93	0.73	0.9		0.34	0.15	-0.38	MAPP
VICE	0.25	0.0	-0.18	0.07	0.56	0.33	0.34		0.23	0.36	VICE
GGRW	-0.05	-0.19	-0.19	0.01	0.56	0.34	0.15	0.23		0.62	GGRW
BNGE	-0.44	-0.75	-0.23	-0.56	0.23	-0.26	-0.38	0.36	0.62		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	+ 0.93	HIYS
HIYS	+ 0.91	DIVG
MAPP	+ 0.9	DIVG
MAPP	+ 0.9	MOTO
HIYS	+ 0.84	EMIF
MOTO	+ 0.8	HIYS

High negative correlations

BNGE	- 0.75	EMIF
BNGE	- 0.56	HIYS
BNGE	- 0.44	DIVG
BNGE	- 0.38	MAPP
BNGE	- 0.26	MOTO
BNGE	- 0.23	MLDR

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	0.55	0.01	(0.02)	0.09	0.60	(0.60)	1.45	(1.19)	3.19
EMIF	0.62	0.20	0.22	0.64	0.35	(0.75)	1.70	(0.90)	3.81
MLDR	0.13	(0.02)	0.00	(0.36)	0.00	0.00	0.24	(0.24)	0.77
HIYS	0.13	0.01	(0.28)	0.16	0.00	(0.15)	0.28	(0.23)	0.79
MTUL	1.97	0.00	0.02	0.07	2.85	(2.00)	4.73	(5.63)	14.40
MOTO	0.94	0.13	0.06	0.72	1.20	(0.97)	1.95	(2.45)	5.05
MAPP	0.40	0.04	0.02	0.15	0.38	(0.43)	0.81	(0.82)	2.32
VICE	0.66	(0.04)	(0.08)	(0.01)	0.96	(0.58)	1.55	(1.53)	3.45
GGRW	0.68	(0.01)	(0.07)	(0.14)	1.07	(0.61)	1.13	(1.74)	4.77
BNGE	0.73	(0.16)	0.00	(0.79)	0.00	0.00	1.27	(1.84)	5.29

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