ProShares VIX Correlations

VIXY Etf

USD 26.09 0.46 1.79%

The current 90-days correlation between ProShares VIX Short and Direxion Daily Energy is 0.17 (i.e., Average diversification). The correlation of ProShares VIX 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 VIX Correlation With Market

Pay attention - limited upside

The correlation between ProShares VIX Short Term and DJI is -0.92 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares VIX Short Term 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 VIX Short Term. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with ProShares Etf

0.96	VXX	iPath Series B	Pair Corr
0.95	VIXM	ProShares VIX Mid	Pair Corr
0.95	VXZ	iPath Series B	Pair Corr
0.69	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.73	T	ATT Inc Earnings Call This Week	Pair Corr
0.62	HPQ	HP Inc	Pair Corr

Moving against ProShares Etf

0.8	NUGT	Direxion Daily Gold	Pair Corr
0.79	CEFD	ETRACS Monthly Pay	Pair Corr
0.78	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.76	UDN	Invesco DB Dollar	Pair Corr
0.74	DGP	DB Gold Double	Pair Corr
0.73	UGL	ProShares Ultra Gold Buyout Trend	Pair Corr
0.71	DFEN	Direxion Daily Aerospace	Pair Corr
0.61	URNM	Sprott Uranium Miners Buyout Trend	Pair Corr
0.55	YCS	ProShares UltraShort Yen	Pair Corr
0.54	DIG	ProShares Ultra Oil	Pair Corr
0.43	EIPX	First Trust Exchange	Pair Corr
0.82	BA	Boeing	Pair Corr
0.81	WMT	Walmart Common Stock	Pair Corr
0.73	CAT	Caterpillar Earnings Call Today	Pair Corr
0.67	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.66	XOM	Exxon Mobil Corp Earnings Call Tomorrow	Pair Corr
0.61	BAC	Bank of America	Pair Corr
0.57	JPM	JPMorgan Chase	Pair Corr
0.53	INTC	Intel Upward Rally	Pair Corr
0.46	GE	GE Aerospace	Pair Corr
0.44	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.43	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	SVXY	UVXY	SMB	STOT	GUSH	FTSD	AAPU	TZA	QID	ERX
SVXY		-0.99	0.9	0.85	-0.23	0.9	-0.47	-0.86	-0.47	0.5	SVXY
UVXY	-0.99		-0.9	-0.86	0.15	-0.91	0.44	0.89	0.48	-0.54	UVXY
SMB	0.9	-0.9		0.93	-0.1	0.95	-0.59	-0.79	-0.24	0.66	SMB
STOT	0.85	-0.86	0.93		-0.04	0.97	-0.55	-0.76	-0.12	0.67	STOT
GUSH	-0.23	0.15	-0.1	-0.04		-0.05	0.13	-0.02	-0.02	0.43	GUSH
FTSD	0.9	-0.91	0.95	0.97	-0.05		-0.54	-0.79	-0.19	0.66	FTSD
AAPU	-0.47	0.44	-0.59	-0.55	0.13	-0.54		0.55	0.04	-0.68	AAPU
TZA	-0.86	0.89	-0.79	-0.76	-0.02	-0.79	0.55		0.57	-0.67	TZA
QID	-0.47	0.48	-0.24	-0.12	-0.02	-0.19	0.04	0.57		-0.2	QID
ERX	0.5	-0.54	0.66	0.67	0.43	0.66	-0.68	-0.67	-0.2		ERX
	SVXY	UVXY	SMB	STOT	GUSH	FTSD	AAPU	TZA	QID	ERX

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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

FTSD	+ 0.97	STOT
FTSD	+ 0.95	SMB
STOT	+ 0.93	SMB
SMB	+ 0.9	SVXY
FTSD	+ 0.9	SVXY
TZA	+ 0.89	UVXY

High negative correlations

UVXY	- 0.99	SVXY
FTSD	- 0.91	UVXY
SMB	- 0.9	UVXY
STOT	- 0.86	UVXY
TZA	- 0.86	SVXY
TZA	- 0.79	FTSD

ProShares VIX Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares VIX 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 VIX'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
SVXY	1.11	0.03	0.04	0.09	1.61	(1.08)	2.70	(2.62)	9.53
UVXY	3.37	(0.14)	0.00	0.09	0.00	0.00	8.03	(7.65)	30.60
SMB	0.08	0.01	(0.46)	0.27	0.00	(0.12)	0.17	(0.17)	0.58
STOT	0.05	0.00	(0.94)	(0.41)	0.00	(0.06)	0.09	(0.09)	0.25
GUSH	2.44	0.18	0.07	0.23	2.70	(2.70)	5.33	(3.99)	15.28
FTSD	0.05	0.01	(1.00)	0.64	0.00	(0.07)	0.13	(0.08)	0.34
AAPU	1.45	(0.13)	0.00	(0.08)	0.00	0.00	3.83	(3.03)	11.48
TZA	2.66	(0.06)	0.00	0.08	0.00	0.00	5.42	(5.52)	16.49
QID	1.52	0.02	0.00	0.05	0.00	0.00	4.09	(2.89)	9.90
ERX	1.98	0.33	0.12	0.74	2.17	(2.07)	4.54	(3.13)	10.76

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