ProShares Short Correlations

PSQ Etf

USD 40.00 0.14 0.35%

The current 90-days correlation between ProShares Short QQQ and ProShares Short SP500 is 0.96 (i.e., Almost no 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

Excellent diversification

The correlation between ProShares Short QQQ and DJI is -0.6 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short QQQ and DJI in the same portfolio, assuming nothing else is changed.

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

Moving together with ProShares Etf

0.99	SH	ProShares Short SP500	Pair Corr
0.97	SPXU	ProShares UltraPro Short	Pair Corr
0.98	SDS	ProShares UltraShort	Pair Corr
0.98	SPXS	Direxion Daily SP	Pair Corr
1.0	QID	ProShares UltraShort QQQ	Pair Corr
0.95	RWM	ProShares Short Russ	Pair Corr
0.99	SPDN	Direxion Daily SP	Pair Corr
0.93	TAIL	Cambria Tail Risk	Pair Corr
0.86	DOG	ProShares Short Dow30	Pair Corr
0.63	BND	Vanguard Total Bond	Pair Corr
0.63	JNJ	Johnson Johnson	Pair Corr

Moving against ProShares Etf

1.0	VUG	Vanguard Growth Index	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.96	SPY	SPDR SP 500	Pair Corr
0.96	IVV	iShares Core SP	Pair Corr
0.94	VB	Vanguard Small Cap	Pair Corr
0.85	VO	Vanguard Mid Cap	Pair Corr
0.36	VTV	Vanguard Value Index	Pair Corr
0.9	HPQ	HP Inc	Pair Corr
0.89	AXP	American Express	Pair Corr
0.83	DIS	Walt Disney	Pair Corr
0.78	MSFT	Microsoft	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.62	CAT	Caterpillar	Pair Corr
0.57	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	SH	DOG	RWM	QID	MYY
SH		0.92	0.95	0.99	0.95	SH
DOG	0.92		0.84	0.87	0.87	DOG
RWM	0.95	0.84		0.94	0.99	RWM
QID	0.99	0.87	0.94		0.92	QID
MYY	0.95	0.87	0.99	0.92		MYY
	SH	DOG	RWM	QID	MYY

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SH	0.80	0.06	0.21	(0.13)	0.71	(0.94)	1.78	(1.18)	5.01
DOG	0.69	0.02	0.18	(0.09)	0.68	(0.77)	1.70	(1.23)	4.27
RWM	0.96	0.14	0.26	(0.21)	0.88	(1.15)	2.57	(1.51)	6.83
QID	2.14	0.18	0.17	(0.17)	2.10	(2.45)	5.51	(3.17)	12.23
MYY	0.83	0.11	0.24	(0.19)	0.71	(0.93)	2.20	(1.28)	6.29

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