ProShares Trust Correlations
| UYG Etf | MXN 1,091 0.00 0.00% |
The correlation of ProShares Trust 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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Trust moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Modest diversification
The correlation between ProShares Trust and NYA is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Trust and NYA in the same portfolio, assuming nothing else is changed.
ProShares |
The ability to find closely correlated positions to ProShares Trust could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace ProShares Trust when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back ProShares Trust - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling ProShares Trust to buy it.
Moving together with ProShares Etf
| 0.64 | VOO | Vanguard Index Funds | PairCorr |
| 0.68 | VXUS | Vanguard STAR Funds | PairCorr |
| 0.63 | SPY | SPDR SP 500 | PairCorr |
| 0.65 | IVV | iShares Trust | PairCorr |
| 0.7 | VEA | Vanguard Tax Managed | PairCorr |
| 0.89 | VWO | Vanguard International | PairCorr |
Moving against ProShares Etf
Related Correlations Analysis
| Click cells to compare fundamentals | Check Volatility | Backtest Portfolio |
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
| High negative correlations
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ProShares Trust Competition Risk-Adjusted Indicators
There is a big difference between ProShares Etf performing well and ProShares Trust 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 Trust's 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| META | 1.51 | (0.09) | (0.03) | 0.00 | 2.45 | 3.21 | 14.43 | |||
| MSFT | 0.96 | 0.02 | 0.03 | 0.09 | 1.14 | 2.22 | 5.87 | |||
| UBER | 1.41 | (0.33) | 0.00 | (0.17) | 0.00 | 2.46 | 9.02 | |||
| F | 1.32 | (0.13) | (0.04) | 0.00 | 1.78 | 2.84 | 10.93 | |||
| T | 0.77 | 0.06 | 0.00 | 0.31 | 0.92 | 1.61 | 4.04 | |||
| A | 1.19 | 0.10 | 0.10 | 0.14 | 1.20 | 2.74 | 6.31 | |||
| CRM | 1.15 | (0.11) | (0.04) | 0.00 | 1.98 | 2.64 | 10.84 | |||
| JPM | 0.86 | 0.06 | 0.05 | 0.11 | 1.51 | 1.94 | 8.41 | |||
| MRK | 0.66 | 0.00 | (0.03) | 0.07 | 0.66 | 2.20 | 6.69 | |||
| XOM | 0.76 | 0.15 | 0.12 | 0.41 | 0.77 | 1.77 | 4.83 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in ProShares Trust without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Alpha FinderUse alpha and beta coefficients to find investment opportunities after accounting for the risk |
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The danger of trading ProShares Trust is mainly related to its market volatility and ETF specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of ProShares Trust is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than ProShares Trust. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile ProShares Trust is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether ProShares Trust offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of ProShares Trust's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Proshares Trust Etf. Outlined below are crucial reports that will aid in making a well-informed decision on Proshares Trust Etf: Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Trust . Also, note that the market value of any etf could be tightly coupled with the direction of predictive economic indicators such as signals in board of governors. Note that the ProShares Trust information on this page should be used as a complementary analysis to other ProShares Trust's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Pair Correlation module to compare performance and examine fundamental relationship between any two equity instruments.