ProShares Correlations

REGL Etf

USD 84.75 0.53 0.63%

The current 90-days correlation between ProShares SP MidCap and iShares Global Energy is 0.39 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares SP MidCap moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Correlation With Market

Poor diversification

The correlation between ProShares SP MidCap and DJI is 0.66 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares SP MidCap 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 SP MidCap. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in price.

Moving together with ProShares Etf

0.87	VBR	Vanguard Small Cap	Pair Corr
0.8	IWN	iShares Russell 2000	Pair Corr
0.88	IJJ	iShares SP Mid	Pair Corr
0.86	DFAT	Dimensional Targeted	Pair Corr
0.77	IJS	iShares SP Small	Pair Corr
0.77	SLYV	SPDR SP 600	Pair Corr
0.83	AVUV	Avantis Small Cap	Pair Corr
0.89	DES	WisdomTree SmallCap	Pair Corr
0.88	MDYV	SPDR SP 400	Pair Corr
0.73	CALF	Pacer Small Cap	Pair Corr
0.65	DUKH	Ocean Park High	Pair Corr
0.61	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Related Correlations Analysis

	IXC	DES	HEDJ	WTV	DSTL	FXR	DIVI	XHB	EPP	FCOM
IXC		0.2	0.5	0.39	0.33	0.01	0.52	-0.18	-0.14	0.32	IXC
DES	0.2		0.61	0.93	0.92	0.89	0.73	0.56	0.41	0.84	DES
HEDJ	0.5	0.61		0.8	0.67	0.67	0.91	0.06	0.37	0.76	HEDJ
WTV	0.39	0.93	0.8		0.95	0.87	0.91	0.31	0.38	0.91	WTV
DSTL	0.33	0.92	0.67	0.95		0.84	0.8	0.38	0.34	0.87	DSTL
FXR	0.01	0.89	0.67	0.87	0.84		0.75	0.47	0.66	0.85	FXR
DIVI	0.52	0.73	0.91	0.91	0.8	0.75		0.03	0.41	0.82	DIVI
XHB	-0.18	0.56	0.06	0.31	0.38	0.47	0.03		0.43	0.3	XHB
EPP	-0.14	0.41	0.37	0.38	0.34	0.66	0.41	0.43		0.37	EPP
FCOM	0.32	0.84	0.76	0.91	0.87	0.85	0.82	0.3	0.37		FCOM
	IXC	DES	HEDJ	WTV	DSTL	FXR	DIVI	XHB	EPP	FCOM

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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

DSTL	+ 0.95	WTV
WTV	+ 0.93	DES
DSTL	+ 0.92	DES
DIVI	+ 0.91	HEDJ
DIVI	+ 0.91	WTV
FCOM	+ 0.91	WTV

High negative correlations

XHB	- 0.18	IXC
EPP	- 0.14	IXC

ProShares Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares 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' 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
IXC	0.80	0.04	0.01	0.14	0.95	(0.83)	1.68	(1.16)	4.80
DES	0.68	(0.05)	(0.05)	0.01	0.88	(0.74)	1.93	(1.63)	4.18
HEDJ	0.57	0.04	0.04	0.11	0.63	(0.65)	1.05	(1.18)	2.89
WTV	0.56	0.00	(0.01)	0.06	0.67	(0.59)	1.41	(1.13)	3.13
DSTL	0.56	(0.02)	(0.05)	0.03	0.66	(0.59)	1.17	(0.86)	3.07
FXR	0.84	(0.01)	0.01	0.05	1.01	(0.84)	1.92	(1.85)	4.31
DIVI	0.55	0.05	0.05	0.13	0.62	(0.57)	1.19	(1.13)	2.81
XHB	1.02	(0.16)	0.00	(0.07)	0.00	0.00	3.06	(2.26)	6.43
EPP	0.62	(0.03)	(0.05)	0.02	0.86	(0.58)	1.23	(1.40)	3.24
FCOM	0.73	(0.01)	(0.02)	0.05	0.85	(0.80)	1.78	(1.30)	4.09

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