ProShares Correlations

ISPY Etf

40.81 0.40 0.97%

The current 90-days correlation between ProShares SP 500 and Global X Funds is 0.9 (i.e., Almost no 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.

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Check out Risk vs Return Analysis 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 american community survey.

Moving together with ProShares Etf

0.87	JEPI	JPMorgan Equity Premium	Pair Corr
0.75	XYLD	Global X SP	Pair Corr
0.88	DIVO	Amplify CWP Enhanced	Pair Corr
0.79	RYLD	Global X Russell	Pair Corr
0.85	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.82	KNG	FT Cboe Vest	Pair Corr
0.85	BUYW	Main Buywrite ETF	Pair Corr
0.8	IDME	International Drawdown	Pair Corr
0.82	SIXD	AIM ETF Products	Pair Corr
0.63	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.92	CEFD	ETRACS Monthly Pay	Pair Corr
0.91	GYLD	Arrow ETF Trust	Pair Corr
0.92	AOHY	Angel Oak High	Pair Corr
0.78	ARKQ	ARK Autonomous Technology	Pair Corr
0.83	QVOY	Ultimus Managers Trust	Pair Corr
0.76	JIRE	JP Morgan Exchange	Pair Corr
0.89	QGRW	WisdomTree Trust	Pair Corr
0.82	PWRD	Perfect World Symbol Change	Pair Corr
0.81	CGIE	Capital Group Intern	Pair Corr
0.88	BUFR	First Trust Cboe	Pair Corr
0.81	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.89	GLOF	iShares MSCI Global	Pair Corr
0.62	BRRR	Valkyrie Bitcoin	Pair Corr
0.62	CBTJ	Calamos Bitcoin 80	Pair Corr
0.87	EAOM	iShares ESG Aware	Pair Corr
0.86	DJUL	FT Cboe Vest	Pair Corr
0.82	WTMF	WisdomTree Managed	Pair Corr
0.82	VOLT	Tema Electrification ETF	Pair Corr
0.73	IPAC	iShares Core MSCI	Pair Corr
0.87	OBND	SSGA Active Trust	Pair Corr
0.68	FID	First Trust Intl	Pair Corr

Moving against ProShares Etf

0.88	VXX	iPath Series B Low Volatility	Pair Corr
0.88	VIXY	ProShares VIX Short Low Volatility	Pair Corr
0.4	YCL	ProShares Ultra Yen	Pair Corr

Related Correlations Analysis

	TYLG	XYLG	RYLG	QYLG
TYLG		0.89	0.93	0.89	TYLG
XYLG	0.89		0.85	0.98	XYLG
RYLG	0.93	0.85		0.8	RYLG
QYLG	0.89	0.98	0.8		QYLG
	TYLG	XYLG	RYLG	QYLG

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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
TYLG	1.24	0.11	0.04	(0.86)	2.17	(1.19)	2.34	(3.56)	17.82
XYLG	0.97	0.04	0.02	0.05	1.72	(0.91)	2.03	(2.73)	12.85
RYLG	1.06	0.03	0.01	(0.19)	1.71	(1.10)	1.83	(2.88)	13.05
QYLG	1.01	0.09	0.05	0.09	1.72	(1.00)	2.16	(2.98)	14.27

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ProShares Correlations

Moving together with ProShares Etf

Moving against ProShares Etf

Related Correlations Analysis

ProShares Constituents Risk-Adjusted Indicators

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