ProShares Correlations

Etfs . USA . 
Etf . ProShares SP 500
SPXT Etf  USD 91.17  0.13  0.14%   
The current 90-days correlation between ProShares SP 500 and ProShares SP 500 is -0.15 (i.e., Good 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

Very poor diversification

The correlation between ProShares SP 500 and DJI is 0.84 (i.e., Very 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 World Market Map 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 interest.

Moving together with ProShares Etf

  0.81VTI Vanguard Total StockPairCorr
  0.8SPY SPDR SP 500PairCorr
  0.8IVV iShares Core SP Sell-off TrendPairCorr
  0.96VIG Vanguard DividendPairCorr
  0.9VV Vanguard Large CapPairCorr
  0.97RSP Invesco SP 500PairCorr
  0.82IWB iShares Russell 1000PairCorr
  0.87ESGU iShares ESG AwarePairCorr
  0.89DFAC Dimensional Core EquityPairCorr
  0.89SPLG SPDR Portfolio SPPairCorr
  0.63GBTC Grayscale Bitcoin TrustPairCorr
  0.69FNGO MicroSectors FANG IndexPairCorr
  0.74FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.88DUSL Direxion Daily IndusPairCorr
  0.65BA BoeingPairCorr
  0.78AXP American Express Sell-off TrendPairCorr
  0.96JPM JPMorgan ChasePairCorr
  0.76BAC Bank of America Sell-off TrendPairCorr
  0.85WMT Walmart Aggressive PushPairCorr

Moving against ProShares Etf

  0.52MRK Merck CompanyPairCorr

Related Correlations Analysis

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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   
SPXV
+ 1.0
SPXN
SPXE
+ 0.9
SPXV
SPXE
+ 0.89
SPXN
TOLZ
+ 0.38
UJB
UJB
+ 0.24
SPXE
UJB
+ 0.13
SPXV
  
High negative correlations   
TOLZ
- 0.47
SPXN
TOLZ
- 0.44
SPXV
TOLZ
- 0.43
SPXE

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.

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