ProShares VIX Correlations

VIXM Etf

USD 15.92 0.03 0.19%

The current 90-days correlation between ProShares VIX Mid and iPath Series B is -0.23 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares VIX moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares VIX Mid Term moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares VIX Correlation With Market

Excellent diversification

The correlation between ProShares VIX Mid Term and DJI is -0.6 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares VIX Mid Term 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 VIX Mid Term. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

Moving together with ProShares Etf

0.89	VXX	iPath Series B	Pair Corr
0.89	VIXY	ProShares VIX Short	Pair Corr
0.82	VXZ	iPath Series B	Pair Corr
0.88	FNGD	MicroSectors FANG Index	Pair Corr
0.83	KO	Coca Cola	Pair Corr

Moving against ProShares Etf

0.91	DUKH	Ocean Park High	Pair Corr
0.9	SWP	SWP Growth Income	Pair Corr
0.89	CEFD	ETRACS Monthly Pay	Pair Corr
0.87	WINN	Harbor Long Term	Pair Corr
0.83	EBND	SPDR Bloomberg Emerging	Pair Corr
0.8	SHLD	Global X Defense	Pair Corr
0.7	LUX	Tema Global	Pair Corr
0.46	UDN	Invesco DB Dollar	Pair Corr
0.42	YCS	ProShares UltraShort Yen	Pair Corr
0.37	HUM	Humana Inc Buyout Trend	Pair Corr
0.36	MRK	Merck Company Aggressive Push	Pair Corr
0.88	BAC	Bank of America	Pair Corr
0.85	JPM	JPMorgan Chase	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.79	HD	Home Depot	Pair Corr
0.78	GE	GE Aerospace	Pair Corr
0.75	INTC	Intel	Pair Corr
0.74	CAT	Caterpillar	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.73	CVX	Chevron Corp	Pair Corr
0.7	JNJ	Johnson Johnson	Pair Corr
0.49	VZ	Verizon Communications	Pair Corr
0.48	MMM	3M Company Sell-off Trend	Pair Corr
0.36	MCD	McDonalds	Pair Corr

Related Correlations Analysis

	VXZ	VIXY	SVXY	UBT	SMDD
VXZ		0.71	-0.74	-0.74	0.88	VXZ
VIXY	0.71		-1.0	-0.74	0.7	VIXY
SVXY	-0.74	-1.0		0.76	-0.72	SVXY
UBT	-0.74	-0.74	0.76		-0.58	UBT
SMDD	0.88	0.7	-0.72	-0.58		SMDD
	VXZ	VIXY	SVXY	UBT	SMDD

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

SMDD	+ 0.88	VXZ
UBT	+ 0.76	SVXY
VIXY	+ 0.71	VXZ
SMDD	+ 0.7	VIXY

High negative correlations

SVXY	- 1.0	VIXY
UBT	- 0.74	VIXY
UBT	- 0.74	VXZ
SVXY	- 0.74	VXZ
SMDD	- 0.72	SVXY
SMDD	- 0.58	UBT

ProShares VIX Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares VIX 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 VIX's 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
VXZ	0.72	(0.10)	0.00	(0.32)	0.00	0.00	1.03	(1.66)	6.34
VIXY	1.61	(0.37)	0.00	0.21	0.00	0.00	2.05	(4.09)	15.74
SVXY	0.82	0.17	0.19	0.20	0.70	(0.96)	2.07	(1.07)	6.18
UBT	1.01	0.06	0.00	0.42	1.09	(1.13)	2.64	(1.82)	5.70
SMDD	1.91	(0.20)	0.00	(0.16)	0.00	0.00	3.45	(4.71)	13.75

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