ProShares Correlations

Etfs . USA . 
Etf . ProShares SP 500
SPXV Etf  USD 60.80  0.03  0.05%   
The current 90-days correlation between ProShares SP 500 and ProShares SP 500 is 0.99 (i.e., No risk reduction). 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

Good diversification

The correlation between ProShares SP 500 and DJI is -0.06 (i.e., Good 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

  1.0VTI Vanguard Total StockPairCorr
  0.81SPY SPDR SP 500PairCorr
  0.81IVV iShares Core SP Sell-off TrendPairCorr
  0.69VIG Vanguard DividendPairCorr
  0.9VV Vanguard Large CapPairCorr
  0.78RSP Invesco SP 500PairCorr
  0.99IWB iShares Russell 1000PairCorr
  0.91ESGU iShares ESG AwarePairCorr
  0.91DFAC Dimensional Core EquityPairCorr
  0.9SPLG SPDR Portfolio SPPairCorr
  0.7USD ProShares Ultra SemiPairCorr
  0.8GBTC Grayscale Bitcoin TrustPairCorr
  0.97FNGO MicroSectors FANG IndexPairCorr
  0.71NAIL Direxion Daily Homeb Downward RallyPairCorr
  0.84FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.68GUSH Direxion Daily SPPairCorr
  0.8DUSL Direxion Daily IndusPairCorr
  0.73BA BoeingPairCorr
  0.85AXP American Express Sell-off TrendPairCorr
  0.66HPQ HP IncPairCorr
  0.77JPM JPMorgan ChasePairCorr
  0.79BAC Bank of America Sell-off TrendPairCorr
  0.65WMT Walmart Aggressive PushPairCorr

Moving against ProShares Etf

  0.39KO Coca ColaPairCorr
  0.39MCD McDonaldsPairCorr
  0.38PG Procter GamblePairCorr
  0.31T ATT Inc Earnings Call This WeekPairCorr

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   
SPXE
+ 0.89
SPXN
SPXT
+ 0.89
SPXE
SPXT
+ 0.75
SPXN
UJB
+ 0.56
SPXT
TOLZ
+ 0.38
UJB
UJB
+ 0.24
SPXE
  
High negative correlations   
TOLZ
- 0.47
SPXN
TOLZ
- 0.43
SPXE
TOLZ
- 0.15
SPXT

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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