ProShares UltraShort Correlations

REW Etf

USD 9.96 0.44 4.23%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Semiconductors is 0.04 (i.e., Significant 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

Excellent diversification

The correlation between ProShares UltraShort Technolog and DJI is -0.62 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Technolog 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 UltraShort Technology. 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

0.94	SH	ProShares Short SP500	Pair Corr
0.94	PSQ	ProShares Short QQQ	Pair Corr
0.94	SPXU	ProShares UltraPro Short	Pair Corr
0.87	SDS	ProShares UltraShort Aggressive Push	Pair Corr
0.88	SPXS	Direxion Daily SP Aggressive Push	Pair Corr
0.94	QID	ProShares UltraShort QQQ	Pair Corr
0.75	RWM	ProShares Short Russ	Pair Corr
0.86	SPDN	Direxion Daily SP	Pair Corr
0.84	TAIL	Cambria Tail Risk	Pair Corr
0.76	DOG	ProShares Short Dow30	Pair Corr
0.67	NRGU	Bank Of Montreal	Pair Corr
0.71	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against ProShares Etf

0.77	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.73	ATMP	Barclays ETN Select	Pair Corr
0.66	USD	ProShares Ultra Semi	Pair Corr
0.65	AMZA	InfraCap MLP ETF	Pair Corr
0.64	MLPR	ETRACS Quarterly Pay	Pair Corr
0.59	SGG	Barclays Capital	Pair Corr
0.86	CSCO	Cisco Systems	Pair Corr
0.79	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.59	HD	Home Depot	Pair Corr
0.55	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.55	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.54	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.49	MSFT	Microsoft Sell-off Trend	Pair Corr
0.42	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.42	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Related Correlations Analysis

	SSG	SIJ	RXD	SCC	SZK
SSG		0.53	-0.52	0.46	-0.56	SSG
SIJ	0.53		-0.17	0.46	-0.02	SIJ
RXD	-0.52	-0.17		-0.84	0.57	RXD
SCC	0.46	0.46	-0.84		-0.23	SCC
SZK	-0.56	-0.02	0.57	-0.23		SZK
	SSG	SIJ	RXD	SCC	SZK

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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

SZK	+ 0.57	RXD
SIJ	+ 0.53	SSG
SCC	+ 0.46	SSG
SCC	+ 0.46	SIJ

High negative correlations

SCC	- 0.84	RXD
SZK	- 0.56	SSG
RXD	- 0.52	SSG
SZK	- 0.23	SCC
RXD	- 0.17	SIJ
SZK	- 0.02	SIJ

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
SSG	3.43	(0.25)	0.00	7.84	0.00	0.00	7.29	(6.59)	19.37
SIJ	1.32	0.06	(0.01)	0.00	2.18	(1.19)	2.32	(3.01)	10.33
RXD	1.20	0.45	0.34	(0.39)	0.79	(1.55)	2.78	(1.74)	5.96
SCC	1.75	(0.45)	0.00	0.24	0.00	0.00	3.02	(4.13)	9.88
SZK	0.94	0.14	0.11	(0.41)	0.90	(1.06)	2.03	(1.46)	5.31

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