ProShares Short Correlations

DOG Etf

USD 25.54 0.10 0.39%

The current 90-days correlation between ProShares Short Dow30 and ProShares Short QQQ is 0.59 (i.e., Very weak diversification). The correlation of ProShares Short 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 Short Correlation With Market

Excellent diversification

The correlation between ProShares Short Dow30 and DJI is -0.63 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short Dow30 and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Short Dow30. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in persons.

Moving together with ProShares Etf

0.84	SH	ProShares Short SP500	Pair Corr
0.8	SPXU	ProShares UltraPro Short	Pair Corr
0.82	SDS	ProShares UltraShort	Pair Corr
0.8	SPXS	Direxion Daily SP	Pair Corr
0.78	RWM	ProShares Short Russ	Pair Corr
0.85	SPDN	Direxion Daily SP	Pair Corr

Moving against ProShares Etf

0.91	SWP	SWP Growth Income	Pair Corr
0.76	SMI	VanEck Vectors ETF	Pair Corr
0.73	DUKH	Ocean Park High	Pair Corr
0.66	SHLD	Global X Funds	Pair Corr
0.62	HUM	Humana Inc	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.74	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.7	DD	Dupont De Nemours	Pair Corr
0.7	TRV	The Travelers Companies	Pair Corr
0.69	PG	Procter Gamble	Pair Corr
0.66	CAT	Caterpillar Sell-off Trend	Pair Corr
0.61	CVX	Chevron Corp	Pair Corr
0.52	XOM	Exxon Mobil Corp	Pair Corr
0.51	T	ATT Inc Aggressive Push	Pair Corr
0.5	GE	GE Aerospace Sell-off Trend	Pair Corr
0.45	AA	Alcoa Corp	Pair Corr
0.41	MCD	McDonalds	Pair Corr
0.41	KO	Coca Cola Aggressive Push	Pair Corr
0.37	IBM	International Business	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.19	0.32	-0.68	0.83	0.61	0.07	0.83	-0.71	-0.51	META
MSFT	-0.19		-0.58	0.11	-0.24	0.18	0.64	-0.35	0.5	-0.21	MSFT
UBER	0.32	-0.58		0.11	0.48	0.01	-0.37	0.56	-0.6	0.47	UBER
F	-0.68	0.11	0.11		-0.38	-0.33	0.18	-0.42	0.5	0.85	F
T	0.83	-0.24	0.48	-0.38		0.34	0.21	0.78	-0.71	-0.19	T
A	0.61	0.18	0.01	-0.33	0.34		0.16	0.67	-0.13	-0.4	A
CRM	0.07	0.64	-0.37	0.18	0.21	0.16		-0.13	0.29	-0.09	CRM
JPM	0.83	-0.35	0.56	-0.42	0.78	0.67	-0.13		-0.73	-0.21	JPM
MRK	-0.71	0.5	-0.6	0.5	-0.71	-0.13	0.29	-0.73		0.16	MRK
XOM	-0.51	-0.21	0.47	0.85	-0.19	-0.4	-0.09	-0.21	0.16		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

XOM	+ 0.85	F
T	+ 0.83	META
JPM	+ 0.83	META
JPM	+ 0.78	T
JPM	+ 0.67	A
CRM	+ 0.64	MSFT

High negative correlations

MRK	- 0.73	JPM
MRK	- 0.71	T
MRK	- 0.71	META
F	- 0.68	META
MRK	- 0.6	UBER
UBER	- 0.58	MSFT

ProShares Short Competition Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Short 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 Short'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	1.22	0.34	0.21	0.81	1.22	(1.31)	3.22	(1.95)	7.11
MSFT	0.99	(0.05)	0.00	(0.20)	0.00	0.00	2.20	(2.14)	10.31
UBER	1.85	0.18	0.06	(1.34)	2.79	(1.88)	4.72	(5.35)	12.29
F	1.35	(0.21)	0.00	(0.31)	0.00	0.00	2.46	(2.90)	11.01
T	0.94	0.24	0.21	0.39	0.93	(1.10)	1.91	(1.75)	7.94
A	1.13	(0.02)	0.00	(0.02)	0.00	0.00	2.81	(2.42)	6.12
CRM	1.50	0.04	0.02	0.07	1.83	(1.65)	3.70	(2.95)	15.92
JPM	0.80	0.24	0.24	0.40	0.73	(0.95)	1.92	(1.39)	5.01
MRK	1.18	(0.31)	0.00	(1.07)	0.00	0.00	2.00	(2.13)	11.57
XOM	0.89	(0.15)	0.00	(0.26)	0.00	0.00	1.72	(2.14)	5.69

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