ProShares Trust Correlations

URSP Etf

43.87 0.41 0.93%

The current 90-days correlation between ProShares Trust and Redwood Investment Management is 0.12 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Trust Correlation With Market

Almost no diversification

The correlation between ProShares Trust and DJI is 0.92 (i.e., Almost no 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 main economic indicators.

Moving together with ProShares Etf

0.77	SSO	ProShares Ultra SP500	Pair Corr
0.73	SPXL	Direxion Daily SP500	Pair Corr
0.73	UPRO	ProShares UltraPro SP500	Pair Corr
0.7	LABU	Direxion Daily SP	Pair Corr
0.77	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.71	UYG	ProShares Ultra Fina	Pair Corr
0.87	TOT	Advisor Managed Port	Pair Corr
0.76	SHLD	Global X Defense	Pair Corr
0.62	LUX	Tema Global	Pair Corr
0.82	FB	ProShares Trust ProShares	Pair Corr
0.89	SWP	SWP Growth Income	Pair Corr
0.94	DUKH	Ocean Park High	Pair Corr
0.79	IEMG	iShares Core MSCI	Pair Corr
0.94	VEA	Vanguard FTSE Developed	Pair Corr
0.87	BA	Boeing Earnings Call This Week	Pair Corr
0.63	DD	Dupont De Nemours	Pair Corr
0.9	AA	Alcoa Corp	Pair Corr
0.75	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.82	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.72	MRK	Merck Company	Pair Corr
0.67	JNJ	Johnson Johnson	Pair Corr
0.66	CVX	Chevron Corp Earnings Call This Week	Pair Corr

Moving against ProShares Etf

0.55	HPQ	HP Inc	Pair Corr
0.54	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.33	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	BIB	SNTH	RPHS	WBIY	NBFC	DXD	TSDD	FARFX	YCL	SQEW
BIB		0.05	0.18	0.78	0.78	-0.61	-0.35	0.53	-0.84	0.89	BIB
SNTH	0.05		0.63	0.19	0.24	-0.54	-0.39	0.48	0.05	0.09	SNTH
RPHS	0.18	0.63		0.36	0.34	-0.54	-0.37	0.47	-0.09	0.2	RPHS
WBIY	0.78	0.19	0.36		0.94	-0.89	-0.63	0.84	-0.72	0.76	WBIY
NBFC	0.78	0.24	0.34	0.94		-0.87	-0.58	0.89	-0.76	0.73	NBFC
DXD	-0.61	-0.54	-0.54	-0.89	-0.87		0.68	-0.93	0.56	-0.62	DXD
TSDD	-0.35	-0.39	-0.37	-0.63	-0.58	0.68		-0.55	0.22	-0.47	TSDD
FARFX	0.53	0.48	0.47	0.84	0.89	-0.93	-0.55		-0.53	0.46	FARFX
YCL	-0.84	0.05	-0.09	-0.72	-0.76	0.56	0.22	-0.53		-0.83	YCL
SQEW	0.89	0.09	0.2	0.76	0.73	-0.62	-0.47	0.46	-0.83		SQEW
	BIB	SNTH	RPHS	WBIY	NBFC	DXD	TSDD	FARFX	YCL	SQEW

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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

NBFC	+ 0.94	WBIY
SQEW	+ 0.89	BIB
FARFX	+ 0.89	NBFC
FARFX	+ 0.84	WBIY
WBIY	+ 0.78	BIB
NBFC	+ 0.78	BIB

High negative correlations

FARFX	- 0.93	DXD
DXD	- 0.89	WBIY
DXD	- 0.87	NBFC
YCL	- 0.84	BIB
SQEW	- 0.83	YCL
YCL	- 0.76	NBFC

ProShares Trust Constituents 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
BIB	1.95	0.27	0.14	0.27	1.75	(2.22)	4.70	(2.85)	10.55
SNTH	0.67	(0.06)	(0.07)	0.01	0.90	(0.66)	1.24	(1.61)	4.09
RPHS	0.80	(0.05)	(0.02)	0.02	2.03	(0.84)	1.32	(0.98)	22.42
WBIY	0.69	0.07	0.07	0.15	0.56	(0.86)	1.73	(1.20)	4.05
NBFC	0.12	0.01	(0.28)	0.20	0.00	(0.14)	0.29	(0.25)	1.38
DXD	1.20	0.00	0.00	0.07	0.00	0.00	2.12	(2.33)	6.33
TSDD	4.28	0.11	0.00	0.03	0.00	0.00	9.09	(8.01)	26.95
FARFX	0.25	0.00	(0.12)	0.07	0.25	(0.27)	0.54	(0.54)	1.36
YCL	0.66	(0.13)	0.00	(4.36)	0.00	0.00	1.40	(1.53)	3.95
SQEW	0.53	0.10	0.06	0.79	0.46	(0.71)	1.71	(0.74)	5.13

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