ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort Euro
EUO Etf  USD 32.38  0.01  0.03%   
The current 90-days correlation between ProShares UltraShort Euro and ProShares UltraShort Yen is 0.26 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraShort moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraShort Euro moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Good diversification

The correlation between ProShares UltraShort Euro and DJI is -0.16 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Euro 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 Euro. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in employment.

Moving together with ProShares Etf

  0.99UUP Invesco DB DollarPairCorr
  0.72YCS ProShares UltraShort YenPairCorr
  0.82AXP American ExpressPairCorr
  0.75HD Home DepotPairCorr
  0.79HPQ HP IncPairCorr
  0.62AA Alcoa CorpPairCorr

Moving against ProShares Etf

  0.97UDN Invesco DB DollarPairCorr
  0.81XPP ProShares Ultra FTSEPairCorr
  0.74BABX GraniteShares 175x LongPairCorr
  0.69VXZ iPath Series BPairCorr
  0.69JNUG Direxion Daily JuniorPairCorr
  0.68VIXM ProShares VIX MidPairCorr
  0.67GDXU MicroSectors Gold MinersPairCorr
  0.6VXX iPath Series BPairCorr
  0.58VIXY ProShares VIX ShortPairCorr
  0.53XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.36GE GE AerospacePairCorr
  0.83VZ Verizon Communications Sell-off TrendPairCorr
  0.67KO Coca Cola Sell-off TrendPairCorr
  0.67T ATT Inc Aggressive PushPairCorr
  0.55PG Procter GamblePairCorr
  0.45INTC Intel Sell-off TrendPairCorr
  0.45CVX Chevron CorpPairCorr
  0.43MMM 3M CompanyPairCorr
  0.39IBM International BusinessPairCorr

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   
GLL
+ 0.94
EPV
ZSL
+ 0.94
GLL
ZSL
+ 0.9
EPV
EPV
+ 0.89
YCS
GLL
+ 0.82
YCS
ZSL
+ 0.8
YCS
  
High negative correlations   
EPV
- 0.77
ULE
ULE
- 0.71
YCS
ZSL
- 0.64
ULE
GLL
- 0.64
ULE

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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