ProShares Correlations

NOBL Etf

USD 99.20 0.59 0.59%

The current 90-days correlation between ProShares SP 500 and iShares Core Dividend is 0.96 (i.e., Almost no diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares SP 500 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Correlation With Market

Good diversification

The correlation between ProShares SP 500 and DJI is -0.15 (i.e., Good 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 Correlation 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 bureau of labor statistics.

Moving together with ProShares Etf

0.8	VTV	Vanguard Value Index	Pair Corr
0.94	VYM	Vanguard High Dividend	Pair Corr
0.77	IWD	iShares Russell 1000	Pair Corr
0.93	DGRO	iShares Core Dividend	Pair Corr
0.79	IVE	iShares SP 500	Pair Corr
0.81	DVY	iShares Select Dividend	Pair Corr
0.96	SPYV	SPDR Portfolio SP	Pair Corr
0.95	FVD	First Trust Value	Pair Corr
0.79	IUSV	iShares Core SP	Pair Corr
0.8	SPHY	SPDR Portfolio High	Pair Corr
0.8	GYLD	Arrow ETF Trust	Pair Corr
0.77	OBND	SSGA Active Trust	Pair Corr
0.65	SOXX	iShares Semiconductor ETF	Pair Corr
0.62	PSLV	Sprott Physical Silver	Pair Corr
0.68	BUFR	First Trust Cboe	Pair Corr
0.67	STXI	EA Series Trust	Pair Corr
0.7	XHYT	BondBloxx ETF Trust	Pair Corr
0.63	CGIE	Capital Group Intern	Pair Corr
0.73	EURL	Direxion Daily FTSE	Pair Corr
0.65	FORH	Formidable ETF	Pair Corr

Moving against ProShares Etf

0.83	WTID	UBS ETRACS	Pair Corr
0.43	ARKC	ARK 21Shares Active	Pair Corr

Related Correlations Analysis

	DGRO	SDY	SPHD	VIG	SCHD
DGRO		0.88	0.58	0.99	0.66	DGRO
SDY	0.88		0.74	0.86	0.77	SDY
SPHD	0.58	0.74		0.46	0.95	SPHD
VIG	0.99	0.86	0.46		0.55	VIG
SCHD	0.66	0.77	0.95	0.55		SCHD
	DGRO	SDY	SPHD	VIG	SCHD

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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
DGRO	0.94	0.05	(0.01)	(0.61)	1.41	(1.00)	1.73	(1.80)	9.33
SDY	0.90	(0.02)	(0.02)	0.04	1.28	(0.89)	1.70	(1.77)	7.43
SPHD	0.91	(0.08)	0.00	(0.05)	0.00	0.00	1.83	(2.12)	7.04
VIG	0.99	0.08	0.01	(0.81)	1.44	(1.10)	1.84	(2.01)	10.04
SCHD	1.01	(0.06)	(0.05)	(0.01)	1.50	(1.16)	1.62	(2.49)	9.85

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