ProShares Trust Correlations

ETHT Etf

37.58 0.36 0.97%

The current 90-days correlation between ProShares Trust and Fidelity Blue Chip is 0.2 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Trust Correlation With Market

Very weak diversification

The correlation between ProShares Trust and DJI is 0.43 (i.e., Very 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 rate.

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

Moving together with ProShares Etf

0.98	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.83	BITO	ProShares Bitcoin	Pair Corr
0.98	BTC	Grayscale Bitcoin Mini	Pair Corr
0.82	BTF	Valkyrie Bitcoin Strategy	Pair Corr
0.7	BCDF	Listed Funds Trust	Pair Corr

Moving against ProShares Etf

0.69	FROG	Jfrog	Pair Corr
0.6	FSST	Fidelity Sustainability	Pair Corr
0.54	JNK	SPDR Bloomberg High Sell-off Trend	Pair Corr
0.51	SIXS	6 Meridian Small	Pair Corr
0.5	AMPD	Tidal ETF Services	Pair Corr
0.48	FTBI	First Trust Exchange	Pair Corr
0.46	FJUL	FT Cboe Vest	Pair Corr
0.45	GBUG	Sprott Active Gold	Pair Corr
0.4	CPST	Calamos ETF Trust	Pair Corr
0.38	MYCL	SPDR SSGA My2032	Pair Corr
0.37	SIL	Global X Silver	Pair Corr
0.32	LEGR	First Trust Indxx	Pair Corr
0.31	HEZU	iShares Currency Hedged	Pair Corr
0.88	CANC	Tema Oncology ETF	Pair Corr
0.77	HYD	VanEck High Yield	Pair Corr
0.77	SCMB	Schwab Municipal Bond	Pair Corr
0.69	CLOX	Series Portfolios Trust	Pair Corr
0.62	APRT	AllianzIM Large Cap	Pair Corr
0.61	ZJAN	Innovator Equity Defined	Pair Corr
0.57	FVAL	Fidelity Value Factor	Pair Corr
0.57	IAU	iShares Gold Trust	Pair Corr
0.55	AJUL	Innovator Equity Defined	Pair Corr
0.5	CPER	United States Copper	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.47	-0.55	0.42	-0.44	0.23	-0.21	-0.45	-0.59	META
MSFT	0.67		0.85	-0.54	0.41	-0.13	-0.01	-0.38	-0.8	-0.63	MSFT
UBER	0.47	0.85		-0.58	0.54	-0.02	-0.25	-0.43	-0.86	-0.66	UBER
F	-0.55	-0.54	-0.58		-0.65	0.33	0.33	0.52	0.64	0.78	F
T	0.42	0.41	0.54	-0.65		-0.14	-0.59	-0.4	-0.42	-0.56	T
A	-0.44	-0.13	-0.02	0.33	-0.14		-0.36	-0.32	0.14	0.12	A
CRM	0.23	-0.01	-0.25	0.33	-0.59	-0.36		0.49	0.2	0.3	CRM
JPM	-0.21	-0.38	-0.43	0.52	-0.4	-0.32	0.49		0.52	0.52	JPM
MRK	-0.45	-0.8	-0.86	0.64	-0.42	0.14	0.2	0.52		0.74	MRK
XOM	-0.59	-0.63	-0.66	0.78	-0.56	0.12	0.3	0.52	0.74		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

UBER	+ 0.85	MSFT
XOM	+ 0.78	F
XOM	+ 0.74	MRK
MSFT	+ 0.67	META
MRK	+ 0.64	F
T	+ 0.54	UBER

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.8	MSFT
XOM	- 0.66	UBER
T	- 0.65	F
XOM	- 0.63	MSFT
CRM	- 0.59	T

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	1.39	(0.21)	0.00	(0.18)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.89	(0.12)	0.00	(0.16)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.34)	0.00	(0.28)	0.00	0.00	2.60	(3.82)	10.51
F	1.47	0.09	0.06	0.11	1.67	(1.63)	3.38	(2.63)	16.30
T	0.95	(0.18)	0.00	(0.68)	0.00	0.00	1.61	(2.18)	5.75
A	1.21	0.10	0.07	0.14	1.22	(1.36)	2.34	(2.21)	11.03
CRM	1.50	0.08	0.04	0.13	1.88	(1.51)	3.66	(2.92)	9.91
JPM	1.06	(0.02)	(0.01)	0.03	1.44	(1.11)	2.00	(1.91)	7.02
MRK	1.42	0.43	0.32	0.55	0.97	(1.87)	4.85	(1.98)	11.45
XOM	0.90	0.08	0.04	0.39	0.87	(0.99)	1.96	(1.41)	4.99

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