ProShares VIX Correlations

VIXY Etf

USD 34.01 1.41 4.33%

The current 90-days correlation between ProShares VIX Short and ProShares Short VIX is -1.0 (i.e., Pay attention - limited upside). The correlation of ProShares VIX 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 VIX Correlation With Market

Pay attention - limited upside

The correlation between ProShares VIX Short Term and DJI is -0.74 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares VIX Short Term and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares VIX Short Term. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in consumer price index.

Moving together with ProShares Etf

1.0	VXX	iPath Series B Low Volatility	Pair Corr
0.9	VIXM	ProShares VIX Mid Low Volatility	Pair Corr
0.89	VXZ	iPath Series B Low Volatility	Pair Corr

Moving against ProShares Etf

0.88	CEFD	ETRACS Monthly Pay	Pair Corr
0.86	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.84	VO	Vanguard Mid Cap	Pair Corr
0.81	VTI	Vanguard Total Stock	Pair Corr
0.78	SPY	SPDR SP 500	Pair Corr
0.78	IVV	iShares Core SP	Pair Corr
0.75	VEA	Vanguard FTSE Developed	Pair Corr
0.71	VUG	Vanguard Growth Index	Pair Corr
0.69	BND	Vanguard Total Bond	Pair Corr
0.43	YCS	ProShares UltraShort Yen	Pair Corr
0.9	VB	Vanguard Small Cap	Pair Corr
0.89	FPFD	Fidelity Preferred	Pair Corr
0.87	TCHI	iShares MSCI China	Pair Corr
0.85	WLDR	Affinity World Leaders	Pair Corr
0.85	FCOM	Fidelity MSCI Commun Potential Growth	Pair Corr
0.84	DIAX	Nuveen Dow 30Sm	Pair Corr
0.83	PMAY	Innovator SP 500	Pair Corr
0.83	AUGT	AIM ETF Products	Pair Corr
0.82	XDAT	Franklin Exponential Data	Pair Corr
0.78	DBC	Invesco DB Commodity	Pair Corr
0.69	VIS	Vanguard Industrials	Pair Corr
0.67	ROBO	Robo Global Robotics	Pair Corr
0.62	LENS	Sarmaya Thematic ETF	Pair Corr
0.61	TMH	Precidian ETFs Trust	Pair Corr
0.57	SBIO	ALPS Medical Breakth	Pair Corr
0.54	EQTY	Kovitz Core Equity	Pair Corr
0.41	INDH	WisdomTree India Hedged	Pair Corr
0.92	VYM	Vanguard High Dividend Sell-off Trend	Pair Corr
0.87	GPRF	Goldman Sachs Access	Pair Corr
0.86	GNR	SPDR SP Global	Pair Corr
0.85	GSLC	Goldman Sachs ActiveBeta	Pair Corr
0.84	BUFF	Innovator Laddered	Pair Corr
0.75	OEF	iShares SP 100	Pair Corr

Related Correlations Analysis

	SVXY	UVXY	SMB	STOT	GUSH	FTSD	AAPU	TZA	QID	ERX
SVXY		-0.96	0.74	0.51	0.7	0.58	0.55	-0.75	-0.53	0.78	SVXY
UVXY	-0.96		-0.78	-0.73	-0.54	-0.77	-0.72	0.88	0.7	-0.7	UVXY
SMB	0.74	-0.78		0.68	0.4	0.74	0.6	-0.81	-0.64	0.46	SMB
STOT	0.51	-0.73	0.68		-0.01	0.97	0.82	-0.88	-0.84	0.24	STOT
GUSH	0.7	-0.54	0.4	-0.01		0.09	0.1	-0.33	0.01	0.93	GUSH
FTSD	0.58	-0.77	0.74	0.97	0.09		0.88	-0.91	-0.89	0.32	FTSD
AAPU	0.55	-0.72	0.6	0.82	0.1	0.88		-0.8	-0.94	0.32	AAPU
TZA	-0.75	0.88	-0.81	-0.88	-0.33	-0.91	-0.8		0.8	-0.5	TZA
QID	-0.53	0.7	-0.64	-0.84	0.01	-0.89	-0.94	0.8		-0.2	QID
ERX	0.78	-0.7	0.46	0.24	0.93	0.32	0.32	-0.5	-0.2		ERX
	SVXY	UVXY	SMB	STOT	GUSH	FTSD	AAPU	TZA	QID	ERX

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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

FTSD	+ 0.97	STOT
ERX	+ 0.93	GUSH
TZA	+ 0.88	UVXY
AAPU	+ 0.88	FTSD
AAPU	+ 0.82	STOT
QID	+ 0.8	TZA

High negative correlations

UVXY	- 0.96	SVXY
QID	- 0.94	AAPU
TZA	- 0.91	FTSD
QID	- 0.89	FTSD
TZA	- 0.88	STOT
QID	- 0.84	STOT

ProShares VIX Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares VIX 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 VIX'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
SVXY	1.12	(0.06)	0.01	0.05	1.63	(1.17)	3.78	(2.13)	10.54
UVXY	3.28	0.16	0.00	0.06	0.00	0.00	6.12	(11.05)	31.07
SMB	0.08	0.00	(0.74)	0.04	0.00	(0.11)	0.17	(0.12)	0.46
STOT	0.05	0.01	(1.00)	0.94	0.00	(0.06)	0.11	(0.09)	0.30
GUSH	2.31	(0.07)	0.00	0.05	3.23	(2.34)	5.11	(4.44)	17.39
FTSD	0.05	0.01	(0.95)	1.03	0.00	(0.06)	0.13	(0.10)	0.29
AAPU	2.18	0.51	0.25	0.31	1.96	(2.64)	7.65	(3.45)	15.68
TZA	2.74	0.03	0.00	0.08	0.00	0.00	5.26	(7.27)	17.08
QID	1.38	(0.03)	0.00	0.10	0.00	0.00	3.07	(2.54)	11.35
ERX	1.54	0.04	0.02	0.12	1.96	(1.63)	3.31	(3.70)	9.73

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