ProShares Trust Correlations

RB Etf

45.04 0.19 0.42%

The current 90-days correlation between ProShares Trust and SPDR SP 400 is 0.77 (i.e., Poor 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

Poor diversification

The correlation between ProShares Trust and DJI is 0.63 (i.e., Poor 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 Your Equity Center 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 various price indices.

Moving together with ProShares Etf

0.78	VTI	Vanguard Total Stock	Pair Corr
0.73	SPY	SPDR SP 500	Pair Corr
0.73	IVV	iShares Core SP	Pair Corr
0.96	VTV	Vanguard Value Index	Pair Corr
0.86	VO	Vanguard Mid Cap	Pair Corr
0.93	VEA	Vanguard FTSE Developed	Pair Corr
0.79	VB	Vanguard Small Cap	Pair Corr
0.61	VWO	Vanguard FTSE Emerging	Pair Corr
0.94	CPST	Calamos ETF Trust	Pair Corr
0.87	ITDD	iShares Trust	Pair Corr
0.71	EMCS	Xtrackers MSCI Emerging	Pair Corr
0.95	BMAY	Innovator SP 500	Pair Corr
0.77	AA	Alcoa Corp	Pair Corr
0.74	BA	Boeing Earnings Call This Week	Pair Corr

Moving against ProShares Etf

0.57	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.49	HPQ	HP Inc	Pair Corr
0.38	IBM	International Business Earnings Call This Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.56	0.27	-0.24	0.15	-0.39	0.53	-0.07	-0.28	-0.32	META
MSFT	0.56		0.78	-0.55	0.52	0.08	0.35	-0.25	-0.84	-0.74	MSFT
UBER	0.27	0.78		-0.47	0.42	0.25	0.01	-0.39	-0.8	-0.51	UBER
F	-0.24	-0.55	-0.47		-0.64	0.04	0.07	0.59	0.68	0.62	F
T	0.15	0.52	0.42	-0.64		0.39	-0.19	-0.41	-0.49	-0.64	T
A	-0.39	0.08	0.25	0.04	0.39		-0.36	-0.03	-0.12	-0.25	A
CRM	0.53	0.35	0.01	0.07	-0.19	-0.36		0.54	-0.09	-0.33	CRM
JPM	-0.07	-0.25	-0.39	0.59	-0.41	-0.03	0.54		0.48	0.17	JPM
MRK	-0.28	-0.84	-0.8	0.68	-0.49	-0.12	-0.09	0.48		0.74	MRK
XOM	-0.32	-0.74	-0.51	0.62	-0.64	-0.25	-0.33	0.17	0.74		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	+ 0.78	MSFT
XOM	+ 0.74	MRK
MRK	+ 0.68	F
XOM	+ 0.62	F
JPM	+ 0.59	F
MSFT	+ 0.56	META

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
XOM	- 0.74	MSFT
XOM	- 0.64	T
T	- 0.64	F
F	- 0.55	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	1.42	(0.21)	0.00	(0.14)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.04	(0.18)	0.00	(0.50)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.24)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.50	0.11	0.10	0.14	1.32	(1.86)	3.69	(2.35)	16.30
T	0.87	(0.16)	0.00	(0.39)	0.00	0.00	1.53	(1.85)	4.30
A	1.22	(0.11)	0.00	0.69	0.00	0.00	2.90	(2.58)	7.85
CRM	1.51	(0.23)	0.00	(0.13)	0.00	0.00	3.22	(3.10)	12.37
JPM	1.13	(0.11)	0.00	(0.01)	0.00	0.00	2.00	(3.11)	7.38
MRK	1.24	0.31	0.21	0.48	1.09	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.20	0.95	(1.22)	2.38	(1.51)	5.82

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