ProShares Correlations

SPXT Etf

USD 107.37 0.05 0.05%

The current 90-days correlation between ProShares SP 500 and Inspire SmallMid Cap is 0.79 (i.e., Poor diversification). The correlation of ProShares 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Correlation With Market

Almost no diversification

The correlation between ProShares SP 500 and DJI is 0.95 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares SP 500 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 SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in median.

Moving together with ProShares Etf

0.9	VTI	Vanguard Total Stock	Pair Corr
0.87	SPY	SPDR SP 500	Pair Corr
0.87	IVV	iShares Core SP	Pair Corr
0.97	VIG	Vanguard Dividend	Pair Corr
0.83	VV	Vanguard Large Cap	Pair Corr
0.98	RSP	Invesco SP 500	Pair Corr
0.88	IWB	iShares Russell 1000	Pair Corr
0.81	ESGU	iShares ESG Aware	Pair Corr
0.97	DFAC	Dimensional Core Equity	Pair Corr
0.91	SPLG	SSgA Symbol Change	Pair Corr
0.82	OIH	VanEck Oil Services	Pair Corr
0.92	WTMF	WisdomTree Managed	Pair Corr
0.95	EWC	iShares MSCI Canada	Pair Corr
0.89	TOT	Advisor Managed Port	Pair Corr
0.92	RDIV	Invesco SP Ultra	Pair Corr
0.96	AHYB	American Century ETF	Pair Corr
0.82	JNJ	Johnson Johnson	Pair Corr
0.88	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.89	MRK	Merck Company Aggressive Push	Pair Corr
0.71	INTC	Intel Aggressive Push	Pair Corr
0.78	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr

Moving against ProShares Etf

0.47	ARKW	ARK Next Generation	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.72	MSFT	Microsoft	Pair Corr
0.38	MMM	3M Company	Pair Corr
0.32	T	ATT Inc Earnings Call Today	Pair Corr

Related Correlations Analysis

	RSPD	EDOW	RSPS	UJUL	BAUG	IQSM	USEP	IQSI	UJAN	ISMD
RSPD		0.92	0.75	0.91	0.9	0.95	0.91	0.87	0.92	0.89	RSPD
EDOW	0.92		0.82	0.96	0.94	0.94	0.95	0.91	0.97	0.95	EDOW
RSPS	0.75	0.82		0.74	0.7	0.83	0.71	0.82	0.78	0.87	RSPS
UJUL	0.91	0.96	0.74		0.99	0.94	0.99	0.9	0.98	0.93	UJUL
BAUG	0.9	0.94	0.7	0.99		0.92	0.99	0.88	0.96	0.91	BAUG
IQSM	0.95	0.94	0.83	0.94	0.92		0.93	0.94	0.94	0.95	IQSM
USEP	0.91	0.95	0.71	0.99	0.99	0.93		0.88	0.97	0.92	USEP
IQSI	0.87	0.91	0.82	0.9	0.88	0.94	0.88		0.9	0.9	IQSI
UJAN	0.92	0.97	0.78	0.98	0.96	0.94	0.97	0.9		0.93	UJAN
ISMD	0.89	0.95	0.87	0.93	0.91	0.95	0.92	0.9	0.93		ISMD
	RSPD	EDOW	RSPS	UJUL	BAUG	IQSM	USEP	IQSI	UJAN	ISMD

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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
RSPD	0.84	0.05	0.01	0.33	0.88	(0.96)	1.93	(1.58)	5.66
EDOW	0.50	0.03	0.04	0.08	0.49	(0.57)	1.20	(0.78)	2.95
RSPS	0.66	0.15	0.17	0.73	0.43	(0.78)	1.67	(1.00)	3.71
UJUL	0.21	0.00	(0.10)	0.05	0.22	(0.21)	0.41	(0.39)	1.30
BAUG	0.31	0.00	(0.06)	0.04	0.43	(0.30)	0.68	(0.76)	2.32
IQSM	0.67	0.07	0.04	0.44	0.65	(0.79)	1.45	(1.36)	3.27
USEP	0.22	(0.01)	(0.11)	0.02	0.28	(0.21)	0.52	(0.51)	1.38
IQSI	0.59	0.09	0.07	1.20	0.63	(0.65)	1.07	(1.21)	3.41
UJAN	0.17	0.02	(0.05)	0.11	0.18	(0.18)	0.45	(0.35)	1.58
ISMD	0.81	0.09	0.09	0.12	0.84	(0.90)	1.97	(1.79)	4.88

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