ProShares Trust Correlations

EETH Etf

72.30 2.19 3.12%

The current 90-days correlation between ProShares Trust and Grayscale Funds Trust is 0.42 (i.e., Very weak diversification). The correlation of ProShares Trust 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 Trust Correlation With Market

Weak diversification

The correlation between ProShares Trust and DJI is 0.33 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Trust and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Trust. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

For more detail on how to invest in ProShares Etf please use our How to Invest in ProShares Trust guide.

Moving together with ProShares Etf

0.61	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.66	BLOK	Amplify Transformational	Pair Corr
0.76	LEGR	First Trust Indxx	Pair Corr
0.88	SPBC	Simplify Equity PLUS	Pair Corr
0.64	BTC	Grayscale Bitcoin Mini	Pair Corr
0.77	HUM	Humana Inc	Pair Corr
0.72	JAVA	JPMorgan Active Value	Pair Corr
0.83	KONG	Formidable Fortress ETF	Pair Corr
0.69	LUX	Tema Global	Pair Corr
0.9	SBIO	ALPS Medical Breakth	Pair Corr
0.83	VYM	Vanguard High Dividend Sell-off Trend	Pair Corr
0.8	PGJ	Invesco Golden Dragon	Pair Corr
0.85	HD	Home Depot	Pair Corr
0.82	BA	Boeing	Pair Corr
0.7	JPM	JPMorgan Chase	Pair Corr
0.97	JNJ	Johnson Johnson	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.68	DD	Dupont De Nemours	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.67	MSFT	Microsoft	Pair Corr
0.64	MRK	Merck Company	Pair Corr

Moving against ProShares Etf

0.85	INR	Infinity Natural Res	Pair Corr
0.81	MKC	McCormick Company	Pair Corr
0.46	NFLX	Netflix	Pair Corr
0.88	IBM	International Business	Pair Corr
0.34	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.76	0.48	0.55	0.54	0.17	-0.76	0.58	0.31	-0.19	META
MSFT	0.76		0.39	0.51	0.11	-0.07	-0.58	0.77	0.33	-0.05	MSFT
UBER	0.48	0.39		0.84	0.44	0.48	-0.19	0.64	0.61	0.28	UBER
F	0.55	0.51	0.84		0.51	0.56	-0.41	0.77	0.77	0.43	F
T	0.54	0.11	0.44	0.51		0.62	-0.45	0.4	0.46	0.06	T
A	0.17	-0.07	0.48	0.56	0.62		0.01	0.39	0.55	0.48	A
CRM	-0.76	-0.58	-0.19	-0.41	-0.45	0.01		-0.36	-0.33	0.15	CRM
JPM	0.58	0.77	0.64	0.77	0.4	0.39	-0.36		0.65	0.29	JPM
MRK	0.31	0.33	0.61	0.77	0.46	0.55	-0.33	0.65		0.54	MRK
XOM	-0.19	-0.05	0.28	0.43	0.06	0.48	0.15	0.29	0.54		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

F	+ 0.84	UBER
JPM	+ 0.77	MSFT
JPM	+ 0.77	F
MRK	+ 0.77	F
MSFT	+ 0.76	META
MRK	+ 0.65	JPM

High negative correlations

CRM	- 0.76	META
CRM	- 0.58	MSFT
CRM	- 0.45	T
CRM	- 0.41	F
JPM	- 0.36	CRM
MRK	- 0.33	CRM

ProShares Trust Competition Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Trust 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 Trust'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
META	1.31	0.08	0.05	0.19	1.21	(1.58)	2.90	(2.27)	14.28
MSFT	0.72	0.05	(0.02)	0.22	0.75	(0.79)	1.58	(1.47)	6.50
UBER	1.38	0.11	0.05	0.26	1.41	(1.50)	3.26	(2.02)	11.37
F	1.20	0.09	0.07	0.18	1.30	(1.23)	2.55	(2.20)	7.46
T	0.79	0.08	(0.01)	0.62	0.92	(0.83)	1.86	(1.96)	5.41
A	1.36	(0.01)	0.03	0.10	1.59	(1.41)	3.24	(2.46)	9.19
CRM	1.28	(0.20)	0.00	(0.07)	0.00	0.00	2.76	(3.19)	8.74
JPM	0.86	0.08	0.07	0.19	0.98	(0.95)	1.78	(1.51)	5.19
MRK	1.18	0.10	0.01	0.50	1.43	(1.18)	2.90	(2.36)	7.79
XOM	1.02	0.13	0.02	1.49	1.43	(0.99)	2.14	(2.58)	6.25

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