ProShares Correlations

SPXT Etf

USD 99.35 1.52 1.55%

The current 90-days correlation between ProShares SP 500 and ProShares SP 500 is -0.34 (i.e., Very good diversification). 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Correlation With Market

Poor diversification

The correlation between ProShares SP 500 and DJI is 0.77 (i.e., 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 national income and product accounts.

Moving together with ProShares Etf

0.61	RSP	Invesco SP 500	Pair Corr
0.63	BITX	Volatility Shares Trust	Pair Corr
0.61	BTFX	Valkyrie Bitcoin Futures	Pair Corr
0.61	MMM	3M Company	Pair Corr
0.62	AA	Alcoa Corp	Pair Corr
0.62	HD	Home Depot	Pair Corr

Moving against ProShares Etf

0.44

IBM

International Business

Pair Corr

Related Correlations Analysis

	SPXN	SPXV	SPXE	UJB	TOLZ
SPXN		1.0	1.0	0.96	0.47	SPXN
SPXV	1.0		1.0	0.96	0.46	SPXV
SPXE	1.0	1.0		0.96	0.49	SPXE
UJB	0.96	0.96	0.96		0.48	UJB
TOLZ	0.47	0.46	0.49	0.48		TOLZ
	SPXN	SPXV	SPXE	UJB	TOLZ

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	0.17	0.04	(0.54)	0.35	(0.57)	1.21	(0.85)	3.48
SPXV	0.51	0.16	0.04	(0.50)	0.39	(0.60)	1.14	(0.81)	3.75
SPXE	0.52	0.16	0.02	(0.41)	0.46	(0.60)	1.23	(1.14)	3.53
UJB	0.31	0.08	(0.11)	(0.78)	0.17	(0.37)	0.67	(0.51)	1.95
TOLZ	0.48	0.01	(0.15)	0.28	0.52	(0.52)	0.98	(0.90)	2.25

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