ProShares Correlations

ISPY Etf

42.80 0.05 0.12%

The current 90-days correlation between ProShares SP 500 and FT Vest Equity is 0.93 (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.

ProShares Correlation With Market

Poor diversification

The correlation between ProShares SP 500 and DJI is 0.71 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares SP 500 and DJI in the same portfolio, assuming nothing else is changed.

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

0.77	XYLD	Global X SP	Pair Corr
0.65	DIVO	Amplify CWP Enhanced	Pair Corr
0.9	RYLD	Global X Russell	Pair Corr
0.89	JEPQ	JPMorgan Nasdaq Equity	Pair Corr
0.65	BUYW	Main Buywrite ETF	Pair Corr
0.99	UPRO	ProShares UltraPro SP500	Pair Corr
0.92	QTJA	Innovator ETFs Trust	Pair Corr
0.97	QTOC	Innovator ETFs Trust	Pair Corr
0.97	XTOC	Innovator ETFs Trust	Pair Corr
0.8	QTAP	Innovator Growth 100 Low Volatility	Pair Corr
0.91	XTJA	Innovator ETFs Trust	Pair Corr
0.61	XTAP	Innovator Equity Acc Low Volatility	Pair Corr
0.84	BAC	Bank of America Sell-off Trend	Pair Corr
0.8	BA	Boeing	Pair Corr
0.87	HD	Home Depot	Pair Corr
0.71	JPM	JPMorgan Chase	Pair Corr
0.76	WMT	Walmart Aggressive Push	Pair Corr
0.79	DIS	Walt Disney	Pair Corr

Moving against ProShares Etf

0.53	NUSI	NEOS ETF Trust Symbol Change	Pair Corr
0.56	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DIHP	MCDS	MCHS	DISV	DJAN	MDLV	DJUL
DHDG		0.94	-0.01	0.85	-0.3	-0.23	0.81	0.01	0.88	DHDG
MBCC	0.94		0.18	0.75	-0.13	-0.06	0.78	0.22	0.86	MBCC
DIHP	-0.01	0.18		-0.38	0.89	0.96	-0.28	0.93	-0.17	DIHP
MCDS	0.85	0.75	-0.38		-0.61	-0.57	0.9	-0.29	0.93	MCDS
MCHS	-0.3	-0.13	0.89	-0.61		0.94	-0.54	0.86	-0.43	MCHS
DISV	-0.23	-0.06	0.96	-0.57	0.94		-0.5	0.86	-0.41	DISV
DJAN	0.81	0.78	-0.28	0.9	-0.54	-0.5		-0.2	0.95	DJAN
MDLV	0.01	0.22	0.93	-0.29	0.86	0.86	-0.2		-0.08	MDLV
DJUL	0.88	0.86	-0.17	0.93	-0.43	-0.41	0.95	-0.08		DJUL
	DHDG	MBCC	DIHP	MCDS	MCHS	DISV	DJAN	MDLV	DJUL

Click cells to compare fundamentals

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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

DISV	+ 0.96	DIHP
DJUL	+ 0.95	DJAN
MBCC	+ 0.94	DHDG
DISV	+ 0.94	MCHS
MDLV	+ 0.93	DIHP
DJUL	+ 0.93	MCDS

High negative correlations

MCHS	- 0.61	MCDS
DISV	- 0.57	MCDS
DJAN	- 0.54	MCHS
DJAN	- 0.5	DISV
DJUL	- 0.43	MCHS
DJUL	- 0.41	DISV

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
DHDG	0.43	(0.02)	0.00	(0.12)	0.00	0.00	0.87	(0.94)	2.86
MBCC	0.76	(0.03)	0.00	(0.10)	0.00	0.00	1.34	(2.25)	4.26
DIHP	0.59	0.12	0.18	0.16	0.67	(0.63)	1.30	(1.21)	3.71
MCDS	0.79	(0.14)	0.00	1.11	0.00	0.00	1.28	(2.08)	4.01
MCHS	1.14	0.17	0.19	1.25	1.07	(1.27)	2.90	(1.70)	5.93
DISV	0.65	0.18	0.22	0.24	0.68	(0.66)	1.54	(1.20)	5.30
DJAN	0.29	(0.04)	0.00	0.53	0.00	0.00	0.61	(0.77)	2.02
MDLV	0.56	0.04	0.13	(0.70)	0.82	(0.52)	1.08	(1.52)	3.33
DJUL	0.45	(0.07)	0.00	0.57	0.00	0.00	0.80	(1.08)	2.99

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