ProShares Correlations

OILK Etf

USD 40.98 0.28 0.69%

The current 90-days correlation between ProShares K 1 and Sprott Physical Gold is -0.07 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares K 1 Free moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Correlation With Market

Very good diversification

The correlation between ProShares K 1 Free and DJI is -0.36 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares K 1 Free and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares K 1 Free. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with ProShares Etf

0.99	USO	United States Oil	Pair Corr
0.8	XOM	Exxon Mobil Corp	Pair Corr

Moving against ProShares Etf

0.5	TRV	The Travelers Companies	Pair Corr
0.57	KO	Coca Cola	Pair Corr
0.56	PG	Procter Gamble	Pair Corr
0.49	MCD	McDonalds	Pair Corr
0.37	WMT	Walmart	Pair Corr

Related Correlations Analysis

	PHYS	SPPP	PSLV	SII	ECAT	RGLD	PAAS	FNV
PHYS		0.33	0.46	0.21	0.29	0.01	0.5	0.28	PHYS
SPPP	0.33		0.85	0.89	0.62	-0.74	0.5	-0.38	SPPP
PSLV	0.46	0.85		0.73	0.83	-0.58	0.82	0.02	PSLV
SII	0.21	0.89	0.73		0.43	-0.72	0.36	-0.56	SII
ECAT	0.29	0.62	0.83	0.43		-0.46	0.8	0.34	ECAT
RGLD	0.01	-0.74	-0.58	-0.72	-0.46		-0.1	0.57	RGLD
PAAS	0.5	0.5	0.82	0.36	0.8	-0.1		0.45	PAAS
FNV	0.28	-0.38	0.02	-0.56	0.34	0.57	0.45		FNV
	PHYS	SPPP	PSLV	SII	ECAT	RGLD	PAAS	FNV

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

SII	+ 0.89	SPPP
PSLV	+ 0.85	SPPP
ECAT	+ 0.83	PSLV
PAAS	+ 0.82	PSLV
PAAS	+ 0.8	ECAT
SII	+ 0.73	PSLV

High negative correlations

RGLD	- 0.74	SPPP
RGLD	- 0.72	SII
RGLD	- 0.58	PSLV
FNV	- 0.56	SII
RGLD	- 0.46	ECAT
FNV	- 0.38	SPPP

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
PHYS	0.72	0.01	(0.09)	0.15	0.82	(0.80)	1.54	(1.58)	4.23
SPPP	1.48	0.15	0.05	0.36	1.82	(1.55)	3.56	(3.01)	11.68
PSLV	1.04	0.20	0.07	1.53	1.02	(1.20)	2.37	(2.09)	7.79
SII	1.21	0.16	0.03	0.92	1.33	(1.36)	2.48	(2.58)	8.68
ECAT	0.51	0.11	0.12	0.31	0.00	(0.66)	1.31	(0.68)	3.20
RGLD	1.31	(0.04)	0.00	(0.16)	0.00	0.00	2.48	(2.82)	11.26
PAAS	1.75	0.52	0.19	(2.98)	1.57	(2.08)	4.93	(2.67)	12.37
FNV	1.17	0.15	0.02	1.54	1.38	(1.27)	2.85	(2.59)	10.00

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