ProShares Correlations

Etfs USA . 
Etf . ProShares SP 500
ISPY Etf   45.95  0.29  0.64%   
The current 90-days correlation between ProShares SP 500 and Global X SP is 0.87 (i.e., Very poor 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 0.77 (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

  0.97JEPI JPMorgan Equity Premium Sell-off TrendPairCorr
  0.96XYLD Global X SPPairCorr
  0.94DIVO Amplify CWP EnhancedPairCorr
  0.91RYLD Global X RussellPairCorr
  0.98JEPQ JPMorgan Nasdaq EquityPairCorr
  0.97NUSI NEOS ETF TrustPairCorr
  0.73KNG FT Cboe VestPairCorr
  0.88SIXH ETC 6 MeridianPairCorr
  0.95BUYW Main Buywrite ETFPairCorr
  0.89DSJA DSJAPairCorr
  0.83RSPY Tuttle Capital ManagementPairCorr
  0.77MEME Roundhill InvestmentsPairCorr
  0.89ITDD iShares TrustPairCorr
  0.92AXP American Express Fiscal Year End 24th of January 2025 PairCorr
  0.89INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.82WMT Walmart Aggressive PushPairCorr
  0.74JPM JPMorgan Chase Fiscal Year End 10th of January 2025 PairCorr
  0.68XOM Exxon Mobil Corp Sell-off TrendPairCorr
  0.78TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.95CSCO Cisco Systems Aggressive PushPairCorr
  0.94AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.87HD Home DepotPairCorr

Moving against ProShares Etf

  0.72KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.79MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr
  0.75JNJ Johnson Johnson Sell-off TrendPairCorr
  0.66BA Boeing Fiscal Year End 29th of January 2025 PairCorr
  0.57PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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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