ProShares UltraShort Correlations

EEV Etf

USD 15.44 0.14 0.92%

The correlation of ProShares UltraShort 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 UltraShort Correlation With Market

Very good diversification

The correlation between ProShares UltraShort MSCI and DJI is -0.41 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort MSCI 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 UltraShort MSCI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with ProShares Etf

0.64

MRK

Merck Company

Pair Corr

Moving against ProShares Etf

0.57	MMM	3M Company	Pair Corr
0.44	RWM	ProShares Short Russ	Pair Corr
0.44	XTAP	Innovator Equity Acc Low Volatility	Pair Corr
0.39	TAIL	Cambria Tail Risk	Pair Corr
0.31	PSQ	ProShares Short QQQ	Pair Corr
0.79	IBM	International Business	Pair Corr
0.78	MCD	McDonalds	Pair Corr
0.78	VZ	Verizon Communications	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.75	INTC	Intel	Pair Corr
0.65	DD	Dupont De Nemours	Pair Corr
0.63	CSCO	Cisco Systems	Pair Corr
0.59	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	FXP	EFU	SMN	EWV	EUM
FXP		0.94	0.28	0.85	0.86	FXP
EFU	0.94		0.42	0.91	0.81	EFU
SMN	0.28	0.42		0.41	0.46	SMN
EWV	0.85	0.91	0.41		0.84	EWV
EUM	0.86	0.81	0.46	0.84		EUM
	FXP	EFU	SMN	EWV	EUM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

ProShares UltraShort Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraShort 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 UltraShort'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
FXP	2.70	(0.68)	0.00	1.08	0.00	0.00	4.70	(5.31)	16.64
EFU	1.39	(0.28)	0.00	0.18	0.00	0.00	2.50	(3.64)	9.32
SMN	1.49	0.13	0.10	(1.87)	1.78	(1.54)	3.46	(2.80)	10.93
EWV	1.59	(0.15)	0.00	0.05	0.00	0.00	2.82	(3.49)	9.99
EUM	0.78	(0.04)	0.00	(1.42)	0.00	0.00	1.86	(1.58)	5.19

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2024 Macroaxis LLC