ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short MSCI
EFZ Etf  USD 15.26  0.15  0.99%   
The current 90-days correlation between ProShares Short MSCI and ProShares Short MSCI is 0.64 (i.e., Poor 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Short Correlation With Market

Very good diversification

The correlation between ProShares Short 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 Short 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 Short 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 against ProShares Etf

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  0.9KEMQ KraneShares EmergingPairCorr
  0.84VTIP Vanguard Short Term Sell-off TrendPairCorr
  0.81KWT iShares MSCI KuwaitPairCorr
  0.81SPSB SPDR Barclays ShortPairCorr
  0.76XTAP Innovator Equity AccPairCorr
  0.69QTAP Innovator Growth 100PairCorr
  0.68FTSM First Trust EnhancedPairCorr
  0.67RAVI FlexShares Ready AccessPairCorr
  0.64PULS PGIM Ultra ShortPairCorr
  0.64ARCM Arrow Reserve CapitalPairCorr
  0.56JAAA Janus Detroit Street Sell-off TrendPairCorr
  0.55XTOC Innovator ETFs TrustPairCorr
  0.49XTJA Innovator ETFs TrustPairCorr
  0.42DBC Invesco DB CommodityPairCorr
  0.41QTJA Innovator ETFs TrustPairCorr
  0.41QTOC Innovator ETFs TrustPairCorr
  0.99INOV Innovator ETFs TrustPairCorr
  0.98AVIV Avantis InternationalPairCorr
  0.98UIVM VictoryShares InternationalPairCorr
  0.98AVNV American Century ETFPairCorr
  0.97HDMV First Trust HorizonPairCorr
  0.95EFAS Global X MSCIPairCorr
  0.94HYDW Xtrackers Low BetaPairCorr
  0.92HART IQ Healthy HeartsPairCorr

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   
SBB
+ 0.98
MYY
EFU
+ 0.81
EUM
EWV
+ 0.81
EUM
EWV
+ 0.78
EFU
MYY
+ 0.25
EWV
SBB
+ 0.24
EWV
  
High negative correlations   
SBB
- 0.23
EFU
MYY
- 0.15
EFU

ProShares Short Constituents 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.

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