ProShares Trust Correlations

BITI Etf  USD 7.28  0.12  1.62%   
The current 90-days correlation between ProShares Trust and ProShares VIX Mid Term is 0.26 (i.e., Modest diversification). 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 correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

ProShares Trust Correlation With Market

Good diversification

The correlation between ProShares Trust and DJI is -0.18 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Trust and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Trending Equities 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 closely tied with the direction of predictive economic indicators such as signals in estimate.
For more detail on how to invest in ProShares Etf please use our How to Invest in ProShares Trust guide.

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   
TMSFT
JPMT
MSFTMETA
JPMF
CRMA
XOMCRM
  
High negative correlations   
AUBER
XOMMSFT
CRMT
AMETA
XOMMETA
AT

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
META  1.53 (0.05)(0.03) 0.00  2.87 
 3.00 
 13.55 
MSFT  0.93  0.04  0.01  0.15  1.22 
 1.91 
 5.60 
UBER  1.69 (0.11) 0.00 (0.18) 0.00 
 3.33 
 13.79 
F  1.27  0.15  0.09  0.22  1.52 
 3.06 
 10.93 
T  0.85  0.19  0.13  0.52  0.70 
 1.95 
 4.82 
A  1.27 (0.14)(0.05) 0.00  2.06 
 2.95 
 13.61 
CRM  1.53 (0.26) 0.00 (0.05) 0.00 
 3.88 
 23.62 
JPM  0.97  0.16  0.11  0.27  1.08 
 2.02 
 7.01 
MRK  0.85  0.00 (0.07) 0.07  1.21 
 2.30 
 7.57 
XOM  0.93 (0.11) 0.00 (0.04) 0.00 
 1.98 
 5.27