ProShares Trust Correlations

BITU Etf

61.70 0.14 0.23%

The current 90-days correlation between ProShares Trust and Grayscale Funds Trust is -0.14 (i.e., Good 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

Average diversification

The correlation between ProShares Trust and DJI is 0.16 (i.e., Average 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 Trending Equities 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 estimate.

For more information on how to buy ProShares Etf please use our How to Invest in ProShares Trust guide.

Moving together with ProShares Etf

1.0	GBTC	Grayscale Bitcoin Trust	Pair Corr
1.0	BITO	ProShares Bitcoin	Pair Corr
0.9	BLOK	Amplify Transformational	Pair Corr
0.9	BLCN	Siren Nasdaq NexGen	Pair Corr
0.86	LEGR	First Trust Indxx	Pair Corr
0.92	BITQ	Bitwise Crypto Industry	Pair Corr
0.9	SPBC	Simplify Equity PLUS	Pair Corr
1.0	BTC	Grayscale Bitcoin Mini	Pair Corr
0.9	DAPP	VanEck Digital Trans	Pair Corr
0.91	CRPT	First Trust SkyBridge	Pair Corr
0.88	DFEN	Direxion Daily Aerospace	Pair Corr
0.83	MSTY	YieldMax MSTR Option	Pair Corr
0.83	AA	Alcoa Corp	Pair Corr
0.81	BAC	Bank of America Aggressive Push	Pair Corr
0.79	AXP	American Express	Pair Corr
0.83	JPM	JPMorgan Chase	Pair Corr
0.71	PFE	Pfizer Inc	Pair Corr
0.82	CSCO	Cisco Systems	Pair Corr
0.88	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.72	CVX	Chevron Corp Earnings Call Next Week	Pair Corr
0.93	BA	Boeing Earnings Call This Week	Pair Corr

Moving against ProShares Etf

0.76	WTID	UBS ETRACS	Pair Corr
0.54	ARKC	ARK 21Shares Active Low Volatility	Pair Corr
0.42	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.38	SHNY	Microsectors Gold	Pair Corr
0.44	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.82	0.79	0.56	0.92	0.17	0.93	0.21	0.51	META
MSFT	0.97		0.84	0.83	0.51	0.86	0.17	0.95	0.23	0.5	MSFT
UBER	0.82	0.84		0.88	0.41	0.78	0.46	0.85	0.18	0.44	UBER
F	0.79	0.83	0.88		0.42	0.8	0.16	0.89	0.43	0.68	F
T	0.56	0.51	0.41	0.42		0.63	0.11	0.46	0.35	0.27	T
A	0.92	0.86	0.78	0.8	0.63		0.15	0.86	0.36	0.63	A
CRM	0.17	0.17	0.46	0.16	0.11	0.15		0.09	-0.33	-0.21	CRM
JPM	0.93	0.95	0.85	0.89	0.46	0.86	0.09		0.32	0.59	JPM
MRK	0.21	0.23	0.18	0.43	0.35	0.36	-0.33	0.32		0.54	MRK
XOM	0.51	0.5	0.44	0.68	0.27	0.63	-0.21	0.59	0.54		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

MSFT	+ 0.97	META
JPM	+ 0.95	MSFT
JPM	+ 0.93	META
A	+ 0.92	META
JPM	+ 0.89	F
F	+ 0.88	UBER

High negative correlations

MRK	- 0.33	CRM
XOM	- 0.21	CRM

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	0.27	0.25	0.41	0.82	(1.79)	3.99	(2.00)	10.48
MSFT	0.84	0.33	0.36	0.63	0.00	(1.04)	2.33	(1.03)	8.85
UBER	1.60	0.05	0.05	0.25	1.44	(1.99)	4.19	(2.54)	10.87
F	1.29	0.10	0.04	0.33	1.40	(1.40)	2.69	(2.33)	7.46
T	1.00	(0.02)	(0.12)	0.14	1.30	(1.05)	2.35	(2.35)	5.71
A	1.53	(0.10)	0.02	0.14	1.77	(1.61)	2.82	(2.89)	14.01
CRM	1.30	(0.17)	(0.04)	0.09	1.64	(1.29)	2.95	(3.19)	9.31
JPM	0.88	0.19	0.16	0.40	0.54	(1.01)	2.25	(1.31)	6.03
MRK	1.40	(0.08)	(0.04)	0.13	1.82	(1.38)	2.90	(3.31)	10.58
XOM	1.10	(0.01)	(0.10)	0.16	1.39	(1.07)	2.18	(2.58)	6.28

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