ProShares Trust Correlations

SLON Etf

18.91 0.87 4.82%

The current 90-days correlation between ProShares Trust and Pinnacle Focused Opportunities is 0.43 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Trust Correlation With Market

Modest diversification

The correlation between ProShares Trust and DJI is 0.28 (i.e., Modest 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 World Market Map 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 signals in metropolitan statistical area.

To learn how to invest in ProShares Etf, please use our How to Invest in ProShares Trust guide.

Moving together with ProShares Etf

0.96

BPI

Grayscale Funds Trust

Pair Corr

Moving against ProShares Etf

0.76	CETH	21shares Core Ethereum Symbol Change	Pair Corr
0.74	RAYS	Global X	Pair Corr
0.57	INCM	Franklin Templeton ETF	Pair Corr
0.51	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.45	VEA	Vanguard FTSE Developed	Pair Corr
0.35	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.35	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.33	ISCB	iShares Morningstar	Pair Corr
0.32	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.88	MKTN	Federated Hermes ETF	Pair Corr
0.65	GAPR	First Trust Exchange	Pair Corr
0.61	FIVA	Fidelity International	Pair Corr
0.56	HYLB	Xtrackers USD High	Pair Corr
0.54	PAPI	Morgan Stanley ETF	Pair Corr
0.53	USHY	iShares Broad USD	Pair Corr
0.47	SGVT	Schwab Strategic Trust	Pair Corr
0.46	SKOR	FlexShares Credit	Pair Corr
0.43	DXUV	Dimensional ETF Trust	Pair Corr
0.35	VT	Vanguard Total World	Pair Corr
0.31	FALN	iShares Fallen Angels	Pair Corr
0.76	STOT	SPDR DoubleLine Short	Pair Corr
0.74	JPIE	JP Morgan Exchange	Pair Corr
0.67	GQI	Natixis ETF Trust	Pair Corr
0.58	SPUT	Innovator ETFs Trust	Pair Corr
0.55	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr
0.45	PBDC	Putnam ETF Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.6	0.32	-0.39	0.24	-0.24	0.43	-0.19	-0.35	-0.43	META
MSFT	0.6		0.8	-0.55	0.48	0.06	0.13	-0.45	-0.84	-0.7	MSFT
UBER	0.32	0.8		-0.49	0.44	0.32	-0.14	-0.5	-0.81	-0.54	UBER
F	-0.39	-0.55	-0.49		-0.71	0.09	0.24	0.66	0.71	0.73	F
T	0.24	0.48	0.44	-0.71		0.32	-0.45	-0.6	-0.51	-0.64	T
A	-0.24	0.06	0.32	0.09	0.32		-0.5	-0.26	-0.06	-0.09	A
CRM	0.43	0.13	-0.14	0.24	-0.45	-0.5		0.52	0.11	0.02	CRM
JPM	-0.19	-0.45	-0.5	0.66	-0.6	-0.26	0.52		0.64	0.52	JPM
MRK	-0.35	-0.84	-0.81	0.71	-0.51	-0.06	0.11	0.64		0.79	MRK
XOM	-0.43	-0.7	-0.54	0.73	-0.64	-0.09	0.02	0.52	0.79		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	+ 0.8	MSFT
XOM	+ 0.79	MRK
XOM	+ 0.73	F
MRK	+ 0.71	F
JPM	+ 0.66	F
MRK	+ 0.64	JPM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.81	UBER
T	- 0.71	F
XOM	- 0.7	MSFT
XOM	- 0.64	T
JPM	- 0.6	T

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	1.32	(0.28)	0.00	(0.20)	0.00	0.00	2.30	(2.67)	13.46
MSFT	0.94	(0.21)	0.00	(0.38)	0.00	0.00	1.65	(2.50)	4.90
UBER	1.46	(0.23)	0.00	(0.17)	0.00	0.00	2.60	(3.82)	10.23
F	1.42	0.13	0.12	0.18	1.27	(1.72)	3.38	(2.35)	16.30
T	0.89	(0.18)	0.00	(0.42)	0.00	0.00	1.53	(1.85)	4.30
A	1.14	(0.09)	(0.05)	0.02	1.39	(1.20)	2.34	(2.22)	6.50
CRM	1.57	(0.16)	0.00	(0.06)	0.00	0.00	3.66	(2.92)	12.37
JPM	1.12	(0.07)	(0.02)	0.04	1.59	(1.13)	2.00	(2.34)	7.38
MRK	1.23	0.32	0.23	0.44	1.01	(1.55)	3.59	(1.98)	8.09
XOM	1.07	0.23	0.12	2.92	0.98	(1.24)	2.37	(1.51)	5.82

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