ProShares Trust Correlations

URSP Etf

45.32 0.10 0.22%

The current 90-days correlation between ProShares Trust and Redwood Investment Management is 0.11 (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

0.75	SSO	ProShares Ultra SP500	Pair Corr
0.7	SPXL	Direxion Daily SP500	Pair Corr
0.65	NRGU	Bank of Montreal	Pair Corr
0.7	UPRO	ProShares UltraPro SP500	Pair Corr
0.69	LABU	Direxion Daily SP	Pair Corr
0.95	ITWO	Proshares Russell 2000	Pair Corr
0.67	AMPD	Tidal ETF Services	Pair Corr
0.72	ELON	Battleshares TSLA	Pair Corr
0.95	CPST	Calamos ETF Trust	Pair Corr
0.9	NBCE	Neuberger Berman ETF	Pair Corr
0.72	DBA	Invesco DB Agriculture	Pair Corr
0.97	IQSZ	Invesco Actively Managed	Pair Corr
0.75	DOGG	First Trust Exchange Low Volatility	Pair Corr
0.95	BMVP	Invesco Bloomberg MVP	Pair Corr
0.94	FPXE	First Trust IPOX	Pair Corr
0.95	REGL	ProShares SP MidCap	Pair Corr
0.9	UDI	USCF ETF Trust	Pair Corr
0.91	PCEM	Litman Gregory Funds	Pair Corr
0.95	FNDC	Schwab Fundamental	Pair Corr
0.93	JANW	AIM ETF Products	Pair Corr
0.92	TLCI	Touchstone ETF Trust	Pair Corr
0.91	WDNA	WisdomTree BioRevolution	Pair Corr
0.92	BSMS	Invesco BulletShares 2028	Pair Corr
0.89	XFIX	Fm Investments Symbol Change	Pair Corr
0.99	NULV	Nuveen ESG Large	Pair Corr
0.91	EWT	iShares MSCI Taiwan	Pair Corr
0.87	NCPB	Nuveen Core Plus	Pair Corr
0.81	GPT	Intelligent Alpha Atlas Symbol Change	Pair Corr
0.92	SCDV	ETF Series Solutions	Pair Corr
0.95	PFFA	Virtus InfraCap Preferred	Pair Corr
0.95	EURL	Direxion Daily FTSE	Pair Corr
0.9	DFSD	Dimensional ETF Trust	Pair Corr

Moving against ProShares Etf

0.92	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.71	MPAY	Exchange Traded Concepts	Pair Corr

Related Correlations Analysis

	BIB	SNTH	RPHS	WBIY	NBFC	DXD	TSDD	FARFX	YCL	SQEW
BIB		0.36	0.3	0.72	0.82	-0.69	-0.28	0.76	-0.18	0.71	BIB
SNTH	0.36		0.65	0.28	0.38	-0.6	-0.38	0.49	0.12	0.19	SNTH
RPHS	0.3	0.65		0.27	0.33	-0.49	-0.35	0.37	-0.02	0.26	RPHS
WBIY	0.72	0.28	0.27		0.9	-0.87	-0.25	0.91	-0.09	0.74	WBIY
NBFC	0.82	0.38	0.33	0.9		-0.89	-0.37	0.95	-0.23	0.88	NBFC
DXD	-0.69	-0.6	-0.49	-0.87	-0.89		0.49	-0.92	0.17	-0.74	DXD
TSDD	-0.28	-0.38	-0.35	-0.25	-0.37	0.49		-0.26	0.11	-0.47	TSDD
FARFX	0.76	0.49	0.37	0.91	0.95	-0.92	-0.26		-0.09	0.75	FARFX
YCL	-0.18	0.12	-0.02	-0.09	-0.23	0.17	0.11	-0.09		-0.47	YCL
SQEW	0.71	0.19	0.26	0.74	0.88	-0.74	-0.47	0.75	-0.47		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

FARFX	+ 0.95	NBFC
FARFX	+ 0.91	WBIY
NBFC	+ 0.9	WBIY
SQEW	+ 0.88	NBFC
NBFC	+ 0.82	BIB
FARFX	+ 0.76	BIB

High negative correlations

FARFX	- 0.92	DXD
DXD	- 0.89	NBFC
DXD	- 0.87	WBIY
SQEW	- 0.74	DXD
DXD	- 0.69	BIB
DXD	- 0.6	SNTH

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	2.00	0.29	0.11	(1.18)	1.98	(2.27)	4.85	(3.47)	10.55
SNTH	0.64	(0.03)	0.00	0.27	0.00	0.00	1.16	(1.61)	3.55
RPHS	0.81	0.00	(0.02)	0.04	1.96	(0.89)	1.32	(1.37)	22.42
WBIY	0.73	0.21	0.24	2.24	0.47	(0.90)	1.92	(1.13)	4.05
NBFC	0.10	0.02	(0.15)	0.83	0.00	(0.12)	0.27	(0.23)	0.61
DXD	1.27	(0.12)	0.00	(1.53)	0.00	0.00	2.47	(2.62)	8.36
TSDD	3.79	0.19	0.02	(0.17)	4.67	(4.07)	8.14	(7.12)	26.95
FARFX	0.25	0.04	0.00	0.92	0.22	(0.27)	0.54	(0.54)	1.36
YCL	0.77	0.00	(0.05)	0.00	0.90	(0.98)	2.03	(1.56)	5.54
SQEW	0.53	0.12	0.09	(0.53)	0.46	(0.71)	1.71	(0.74)	5.13

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