ProShares Correlations
SPXE Etf | USD 69.80 0.99 1.44% |
The current 90-days correlation between ProShares SP 500 and ProShares SP 500 is 0.99 (i.e., No risk reduction). 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.
ProShares Correlation With Market
Very poor diversification
The correlation between ProShares SP 500 and DJI is 0.89 (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.
ProShares | Build AI portfolio with ProShares Etf |
Moving together with ProShares Etf
1.0 | VTI | Vanguard Total Stock | PairCorr |
1.0 | SPY | SPDR SP 500 | PairCorr |
1.0 | IVV | iShares Core SP | PairCorr |
0.98 | VIG | Vanguard Dividend | PairCorr |
1.0 | VV | Vanguard Large Cap | PairCorr |
0.95 | RSP | Invesco SP 500 | PairCorr |
1.0 | IWB | iShares Russell 1000 | PairCorr |
1.0 | ESGU | iShares ESG Aware | PairCorr |
0.99 | DFAC | Dimensional Core Equity | PairCorr |
1.0 | SPLG | SPDR Portfolio SP | PairCorr |
0.72 | BITX | Volatility Shares Trust | PairCorr |
0.73 | BITU | ProShares Trust | PairCorr |
0.72 | BTCL | T Rex 2X | PairCorr |
0.75 | BTFX | Valkyrie Bitcoin Futures | PairCorr |
0.94 | TARK | AXS 2X Innovation | PairCorr |
0.87 | BA | Boeing | PairCorr |
0.66 | MMM | 3M Company | PairCorr |
0.79 | PFE | Pfizer Inc Aggressive Push | PairCorr |
0.81 | DD | Dupont De Nemours | PairCorr |
0.85 | JNJ | Johnson Johnson | PairCorr |
0.78 | MRK | Merck Company Aggressive Push | PairCorr |
0.83 | CSCO | Cisco Systems | PairCorr |
0.94 | MSFT | Microsoft | PairCorr |
0.79 | AA | Alcoa Corp | PairCorr |
0.94 | CAT | Caterpillar | PairCorr |
0.7 | HD | Home Depot | PairCorr |
Moving against ProShares Etf
0.59 | WTID | UBS ETRACS Downward Rally | PairCorr |
0.74 | PG | Procter Gamble Sell-off Trend | PairCorr |
0.35 | IBM | International Business | PairCorr |
Related Correlations Analysis
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 | ||
---|---|---|---|---|---|---|---|---|---|---|
SPXN | 0.50 | 0.07 | 0.07 | 0.18 | 0.35 | 1.21 | 3.48 | |||
SPXV | 0.51 | 0.06 | 0.06 | 0.17 | 0.39 | 1.14 | 3.75 | |||
SPXT | 0.50 | 0.01 | (0.01) | 0.10 | 0.44 | 1.20 | 3.07 | |||
UJB | 0.31 | 0.03 | (0.06) | 0.16 | 0.17 | 0.67 | 1.95 | |||
SPMO | 0.66 | 0.08 | 0.07 | 0.19 | 0.64 | 1.50 | 4.48 |