ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort MSCI
EFU Etf  USD 13.13  0.15  1.13%   
The current 90-days correlation between ProShares UltraShort MSCI and ProShares UltraShort MSCI is -0.1 (i.e., Good diversification). 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 -0.5 (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 census.

Moving together with ProShares Etf

  0.63MRK Merck CompanyPairCorr
  0.68AA Alcoa CorpPairCorr
  0.74MSFT Microsoft Aggressive PushPairCorr

Moving against ProShares Etf

  1.0VEA Vanguard FTSE DevelopedPairCorr
  0.9BND Vanguard Total BondPairCorr
  0.9GDXU MicroSectors Gold MinersPairCorr
  0.63RWM ProShares Short Russ Potential GrowthPairCorr
  0.56TAIL Cambria Tail RiskPairCorr
  0.52PSQ ProShares Short QQQPairCorr
  0.49VTV Vanguard Value IndexPairCorr
  0.48QID ProShares UltraShort QQQPairCorr
  0.47SPDN Direxion Daily SPPairCorr
  0.46SH ProShares Short SP500PairCorr
  0.41SDS ProShares UltraShortPairCorr
  0.4SPXS Direxion Daily SPPairCorr
  0.39SPXU ProShares UltraPro ShortPairCorr
  0.94T ATT Inc Aggressive PushPairCorr
  0.93JNJ Johnson JohnsonPairCorr
  0.89KO Coca Cola Sell-off TrendPairCorr
  0.82GE GE AerospacePairCorr
  0.81IBM International BusinessPairCorr
  0.8MCD McDonaldsPairCorr
  0.69CSCO Cisco SystemsPairCorr
  0.65XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.62PG Procter GamblePairCorr
  0.5DD Dupont De NemoursPairCorr

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   
EEV
+ 0.9
EFZ
EFZ
+ 0.85
EWV
EEV
+ 0.83
EWV
SZK
+ 0.64
EEV
SZK
+ 0.63
EFZ
SZK
+ 0.6
EWV
  
High negative correlations   
SIJ
- 0.16
EWV
SZK
- 0.12
SIJ
SIJ
- 0.06
EFZ
SIJ
- 0.05
EEV

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.

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