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.
Check out World Market Map 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 national income and product accounts.

Moving together with ProShares Etf

  1.0VTI Vanguard Total StockPairCorr
  1.0SPY SPDR SP 500PairCorr
  1.0IVV iShares Core SPPairCorr
  0.98VIG Vanguard DividendPairCorr
  1.0VV Vanguard Large CapPairCorr
  0.95RSP Invesco SP 500PairCorr
  1.0IWB iShares Russell 1000PairCorr
  1.0ESGU iShares ESG AwarePairCorr
  0.99DFAC Dimensional Core EquityPairCorr
  1.0SPLG SPDR Portfolio SPPairCorr
  0.72BITX Volatility Shares TrustPairCorr
  0.73BITU ProShares TrustPairCorr
  0.72BTCL T Rex 2XPairCorr
  0.75BTFX Valkyrie Bitcoin FuturesPairCorr
  0.94TARK AXS 2X InnovationPairCorr
  0.87BA BoeingPairCorr
  0.66MMM 3M CompanyPairCorr
  0.79PFE Pfizer Inc Aggressive PushPairCorr
  0.81DD Dupont De NemoursPairCorr
  0.85JNJ Johnson JohnsonPairCorr
  0.78MRK Merck Company Aggressive PushPairCorr
  0.83CSCO Cisco SystemsPairCorr
  0.94MSFT MicrosoftPairCorr
  0.79AA Alcoa CorpPairCorr
  0.94CAT CaterpillarPairCorr
  0.7HD Home DepotPairCorr

Moving against ProShares Etf

  0.59WTID UBS ETRACS Downward RallyPairCorr
  0.74PG Procter Gamble Sell-off TrendPairCorr
  0.35IBM International BusinessPairCorr

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.