ProShares Trust Correlations
BITI Etf | USD 18.09 0.10 0.56% |
The current 90-days correlation between ProShares Trust and AXS TSLA Bear is 0.04 (i.e., Significant 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.
ProShares Trust Correlation With Market
Good diversification
The correlation between ProShares Trust and DJI is -0.09 (i.e., Good 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.
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Moving against ProShares Etf
0.73 | ITDD | iShares Trust | PairCorr |
0.7 | CEFD | ETRACS Monthly Pay | PairCorr |
0.57 | YCS | ProShares UltraShort Yen | PairCorr |
0.5 | UDN | Invesco DB Dollar | PairCorr |
0.45 | CAT | Caterpillar | PairCorr |
0.45 | JNJ | Johnson Johnson | PairCorr |
0.45 | CVX | Chevron Corp | PairCorr |
0.41 | IBM | International Business Earnings Call Today | PairCorr |
0.36 | CSCO | Cisco Systems Sell-off Trend | PairCorr |
0.35 | DD | Dupont De Nemours Earnings Call This Week | PairCorr |
0.35 | GE | GE Aerospace | PairCorr |
0.34 | BA | Boeing Earnings Call This Week | PairCorr |
0.33 | MMM | 3M Company | PairCorr |
0.33 | DIS | Walt Disney | PairCorr |
0.31 | BAC | Bank of America Aggressive Push | PairCorr |
Related Correlations Analysis
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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
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ProShares Trust Competition 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
META | 1.47 | 0.31 | 0.27 | 0.41 | 0.82 | 3.99 | 10.48 | |||
MSFT | 0.86 | 0.33 | 0.38 | 0.59 | 0.00 | 2.33 | 8.85 | |||
UBER | 1.61 | 0.18 | 0.12 | 0.34 | 1.40 | 4.19 | 10.87 | |||
F | 1.30 | 0.17 | 0.08 | 0.40 | 1.40 | 2.69 | 7.46 | |||
T | 1.00 | (0.02) | (0.10) | 0.10 | 1.30 | 2.35 | 5.71 | |||
A | 1.50 | (0.07) | 0.02 | 0.12 | 1.79 | 2.58 | 14.01 | |||
CRM | 1.30 | (0.15) | (0.04) | 0.06 | 1.69 | 2.95 | 9.31 | |||
JPM | 0.87 | 0.22 | 0.18 | 0.42 | 0.58 | 2.25 | 6.03 | |||
MRK | 1.38 | 0.11 | (0.06) | (0.10) | 1.96 | 2.88 | 10.58 | |||
XOM | 1.12 | 0.04 | (0.06) | 0.32 | 1.38 | 2.40 | 6.28 |