Correlation
The correlation between SMN and ^GSPC is -0.77. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
SMN vs. ^GSPC
Compare and contrast key facts about ProShares UltraShort Basic Materials (SMN) and S&P 500 (^GSPC).
SMN is a passively managed fund by ProShares that tracks the performance of the Dow Jones U.S. Basic Materials Index (-200%). It was launched on Jan 30, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SMN or ^GSPC.
Performance
SMN vs. ^GSPC - Performance Comparison
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Key characteristics
SMN:
0.11
^GSPC:
0.66
SMN:
0.45
^GSPC:
0.94
SMN:
1.06
^GSPC:
1.14
SMN:
0.05
^GSPC:
0.60
SMN:
0.37
^GSPC:
2.28
SMN:
13.16%
^GSPC:
5.01%
SMN:
40.10%
^GSPC:
19.77%
SMN:
-99.90%
^GSPC:
-56.78%
SMN:
-99.88%
^GSPC:
-3.78%
Returns By Period
In the year-to-date period, SMN achieves a -10.28% return, which is significantly lower than ^GSPC's 0.51% return. Over the past 10 years, SMN has underperformed ^GSPC with an annualized return of -22.83%, while ^GSPC has yielded a comparatively higher 10.85% annualized return.
SMN
-10.28%
-6.97%
13.44%
7.57%
-8.13%
-27.49%
-22.83%
^GSPC
0.51%
5.49%
-2.00%
12.02%
12.68%
14.19%
10.85%
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Risk-Adjusted Performance
SMN vs. ^GSPC — Risk-Adjusted Performance Rank
SMN
^GSPC
SMN vs. ^GSPC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Basic Materials (SMN) and S&P 500 (^GSPC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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Drawdowns
SMN vs. ^GSPC - Drawdown Comparison
The maximum SMN drawdown since its inception was -99.90%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for SMN and ^GSPC.
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Volatility
SMN vs. ^GSPC - Volatility Comparison
ProShares UltraShort Basic Materials (SMN) has a higher volatility of 9.18% compared to S&P 500 (^GSPC) at 4.77%. This indicates that SMN's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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