ProShares Correlations

SPXV Etf  USD 64.04  0.11  0.17%   
The current 90-days correlation between ProShares SP 500 and ProShares SP 500 is 0.99 (i.e., No risk reduction). 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

ProSharesDowDiversified AwayProSharesDowDiversified Away100%

Very weak diversification

The correlation between ProShares SP 500 and DJI is 0.48 (i.e., Very weak 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.
  
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 interest.

Moving together with ProShares Etf

  0.97VTI Vanguard Total StockPairCorr
  0.98SPY SPDR SP 500PairCorr
  0.98IVV iShares Core SPPairCorr
  0.75VIG Vanguard DividendPairCorr
  0.98VV Vanguard Large CapPairCorr
  0.97IWB iShares Russell 1000PairCorr
  0.98ESGU iShares ESG AwarePairCorr
  0.79DFAC Dimensional Core EquityPairCorr
  0.98SPLG SPDR Portfolio SPPairCorr

Moving against ProShares Etf

  0.34MRK Merck Company Aggressive PushPairCorr

Related Correlations Analysis

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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.

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