ProShares Correlations

SPXN Etf

USD 68.21 0.21 0.31%

The current 90-days correlation between ProShares SP 500 and ProShares SP 500 is 0.95 (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

Very poor diversification

The correlation between ProShares SP 500 and DJI is 0.82 (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 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 interest.

Moving together with ProShares Etf

0.64	VTI	Vanguard Total Stock Sell-off Trend	Pair Corr
0.64	SPY	SPDR SP 500 Sell-off Trend	Pair Corr
0.64	IVV	iShares Core SP Sell-off Trend	Pair Corr
0.65	VIG	Vanguard Dividend	Pair Corr
0.64	VV	Vanguard Large Cap	Pair Corr
0.61	RSP	Invesco SP 500	Pair Corr
0.64	IWB	iShares Russell 1000	Pair Corr
0.63	ESGU	iShares ESG Aware	Pair Corr
0.64	DFAC	Dimensional Core Equity	Pair Corr
0.64	SPLG	SPDR Portfolio SP Sell-off Trend	Pair Corr
0.73	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.64	ITDD	iShares Trust	Pair Corr
0.67	PMBS	PIMCO Mortgage Backed	Pair Corr
0.75	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.67	JPM	JPMorgan Chase	Pair Corr

Moving against ProShares Etf

0.58	MPAY	Exchange Traded Concepts	Pair Corr
0.34	KO	Coca Cola	Pair Corr
0.58	TRV	The Travelers Companies	Pair Corr
0.54	MCD	McDonalds Earnings Call This Week	Pair Corr
0.42	VZ	Verizon Communications	Pair Corr
0.4	PG	Procter Gamble	Pair Corr
0.35	WMT	Walmart Aggressive Push	Pair Corr
0.31	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	SPXE	SPXV	SPXT	UJB	TOLZ
SPXE		0.56	0.58	0.97	0.41	SPXE
SPXV	0.56		0.99	0.63	0.25	SPXV
SPXT	0.58	0.99		0.64	0.3	SPXT
UJB	0.97	0.63	0.64		0.4	UJB
TOLZ	0.41	0.25	0.3	0.4		TOLZ
	SPXE	SPXV	SPXT	UJB	TOLZ

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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
SPXE	0.50	0.10	0.12	0.28	0.00	(0.61)	1.23	(0.77)	4.65
SPXV	0.51	0.11	0.13	0.30	0.00	(0.64)	1.28	(0.72)	4.76
SPXT	0.54	0.00	(0.03)	0.16	0.40	(0.62)	1.27	(0.93)	4.26
UJB	0.32	0.01	(0.17)	0.19	0.25	(0.37)	0.59	(0.66)	3.17
TOLZ	0.52	(0.01)	(0.21)	0.10	0.66	(0.51)	0.96	(0.97)	2.72

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