ProShares Correlations

ISPY Etf

43.73 0.10 0.23%

The current 90-days correlation between ProShares SP 500 and FT Vest Equity is 0.76 (i.e., Poor diversification). The correlation of ProShares 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 Correlation With Market

Very poor diversification

The correlation between ProShares SP 500 and DJI is 0.88 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares SP 500 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in ProShares SP 500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with ProShares Etf

0.95	JEPI	JPMorgan Equity Premium	Pair Corr
0.97	XYLD	Global X SP	Pair Corr
0.99	DIVO	Amplify CWP Enhanced	Pair Corr
0.93	RYLD	Global X Russell	Pair Corr
0.99	JEPQ	JPMorgan Nasdaq Equity Sell-off Trend	Pair Corr
0.76	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.9	KNG	FT Cboe Vest	Pair Corr
0.73	SIXH	ETC 6 Meridian	Pair Corr
0.98	BUYW	Main Buywrite ETF	Pair Corr
0.93	IDME	International Drawdown Low Volatility	Pair Corr
0.96	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.65	AMPD	Tidal ETF Services	Pair Corr
0.89	PMBS	PIMCO Mortgage Backed	Pair Corr
0.91	ITWO	Proshares Russell 2000	Pair Corr
0.97	SDIV	Global X SuperDividend	Pair Corr
0.81	DD	Dupont De Nemours	Pair Corr
0.8	PFE	Pfizer Inc	Pair Corr
0.87	BA	Boeing	Pair Corr
0.81	MRK	Merck Company Aggressive Push	Pair Corr
0.9	CSCO	Cisco Systems	Pair Corr
0.87	GE	GE Aerospace	Pair Corr
0.96	JPM	JPMorgan Chase	Pair Corr
0.85	BAC	Bank of America	Pair Corr

Moving against ProShares Etf

0.45	KO	Coca Cola	Pair Corr
0.76	PG	Procter Gamble	Pair Corr
0.56	TRV	The Travelers Companies	Pair Corr
0.39	MCD	McDonalds Sell-off Trend	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	DIVN	DJAN	FB	MDLV	DJUL	DJUN
DHDG		0.83	0.74	-0.35	0.97	-0.35	0.89	0.95	0.95	DHDG
MBCC	0.83		0.76	-0.42	0.91	-0.6	0.95	0.92	0.92	MBCC
DIHP	0.74	0.76		-0.15	0.73	-0.34	0.81	0.71	0.76	DIHP
DIVN	-0.35	-0.42	-0.15		-0.46	0.57	-0.34	-0.49	-0.44	DIVN
DJAN	0.97	0.91	0.73	-0.46		-0.5	0.95	1.0	0.98	DJAN
FB	-0.35	-0.6	-0.34	0.57	-0.5		-0.51	-0.53	-0.49	FB
MDLV	0.89	0.95	0.81	-0.34	0.95	-0.51		0.95	0.94	MDLV
DJUL	0.95	0.92	0.71	-0.49	1.0	-0.53	0.95		0.97	DJUL
DJUN	0.95	0.92	0.76	-0.44	0.98	-0.49	0.94	0.97		DJUN
	DHDG	MBCC	DIHP	DIVN	DJAN	FB	MDLV	DJUL	DJUN

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

DJUL	+ 1.0	DJAN
DJUN	+ 0.98	DJAN
DJAN	+ 0.97	DHDG
DJUN	+ 0.97	DJUL
DJUL	+ 0.95	DHDG
DJUN	+ 0.95	DHDG

High negative correlations

FB	- 0.6	MBCC
DJUL	- 0.53	FB
MDLV	- 0.51	FB
FB	- 0.5	DJAN
DJUN	- 0.49	FB
DJUL	- 0.49	DIVN

ProShares Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares 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' 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
DHDG	0.13	0.02	(0.21)	0.18	0.00	(0.14)	0.44	(0.22)	1.23
MBCC	0.52	0.00	(0.02)	0.10	0.58	(0.54)	1.00	(0.99)	3.50
DIHP	0.56	0.03	0.00	0.13	0.58	(0.59)	1.21	(1.06)	3.72
DIVN	0.54	0.06	0.01	0.28	0.54	(0.61)	1.44	(1.29)	3.50
DJAN	0.27	0.04	(0.04)	0.17	0.00	(0.32)	0.66	(0.43)	1.89
FB	0.27	0.04	(0.12)	0.45	0.09	(0.35)	0.85	(0.59)	1.62
MDLV	0.46	0.02	(0.03)	0.11	0.51	(0.44)	0.93	(0.88)	3.44
DJUL	0.30	0.06	0.05	0.22	0.00	(0.36)	0.86	(0.62)	2.33
DJUN	0.30	0.02	(0.05)	0.12	0.29	(0.33)	0.79	(0.63)	2.74

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