ProShares Correlations

OILK Etf

USD 43.65 0.34 0.79%

The current 90-days correlation between ProShares K 1 and United States 12 is 0.99 (i.e., No risk reduction). 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 K 1 Free moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Correlation With Market

Very good diversification

The correlation between ProShares K 1 Free and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares K 1 Free and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares K 1 Free. 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 economic analysis.

Moving together with ProShares Etf

0.82	SLV	iShares Silver Trust	Pair Corr
0.99	USO	United States Oil	Pair Corr
0.77	GLTR	abrdn Physical Precious	Pair Corr
0.82	SIVR	abrdn Physical Silver	Pair Corr
0.78	TOAK	Manager Directed Por	Pair Corr
0.72	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.72	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.72	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.68	VB	Vanguard Small Cap	Pair Corr
0.66	IJH	iShares Core SP	Pair Corr
0.72	IWF	iShares Russell 1000	Pair Corr
0.64	GE	GE Aerospace	Pair Corr
0.86	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.71	CSCO	Cisco Systems	Pair Corr
0.72	DIS	Walt Disney Earnings Call This Week	Pair Corr
0.66	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.7	BAC	Bank of America	Pair Corr
0.7	CAT	Caterpillar Earnings Call This Week	Pair Corr
0.72	MSFT	Microsoft Earnings Call Today	Pair Corr

Moving against ProShares Etf

0.48	DBA	Invesco DB Agriculture	Pair Corr
0.78	MCD	McDonalds Earnings Call This Week	Pair Corr
0.56	KO	Coca Cola	Pair Corr
0.52	VZ	Verizon Communications	Pair Corr
0.45	TRV	The Travelers Companies	Pair Corr
0.38	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	USL	USOI	DBO	UNL	BNO
USL		0.89	1.0	-0.31	1.0	USL
USOI	0.89		0.88	-0.55	0.89	USOI
DBO	1.0	0.88		-0.3	1.0	DBO
UNL	-0.31	-0.55	-0.3		-0.32	UNL
BNO	1.0	0.89	1.0	-0.32		BNO
	USL	USOI	DBO	UNL	BNO

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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

DBO	+ 1.0	USL
BNO	+ 1.0	USL
BNO	+ 1.0	DBO
USOI	+ 0.89	USL
BNO	+ 0.89	USOI
DBO	+ 0.88	USOI

High negative correlations

UNL	- 0.55	USOI
BNO	- 0.32	UNL
UNL	- 0.31	USL
UNL	- 0.3	DBO

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
USL	1.26	0.29	0.01	(0.22)	1.54	(1.33)	3.07	(1.95)	8.73
USOI	0.83	0.19	(0.02)	(0.38)	1.09	(0.84)	2.03	(2.24)	5.82
DBO	1.42	0.33	0.02	(0.22)	1.67	(1.57)	3.31	(2.20)	11.18
UNL	1.62	0.01	0.00	0.13	0.00	0.00	3.68	(3.37)	11.05
BNO	1.55	0.39	0.03	(0.22)	1.89	(1.74)	3.64	(2.34)	14.23

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