ProShares UltraShort Correlations

RXD Etf

USD 10.76 0.01 0.09%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Consumer is -0.06 (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.

ProShares UltraShort Correlation With Market

Excellent diversification

The correlation between ProShares UltraShort Health and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Health 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 Health. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in interest.

Moving against ProShares Etf

0.79	VEA	Vanguard FTSE Developed	Pair Corr
0.73	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.68	VTV	Vanguard Value Index	Pair Corr
0.66	GDXU	MicroSectors Gold Miners	Pair Corr
0.31	RWM	ProShares Short Russ	Pair Corr
0.72	GE	GE Aerospace	Pair Corr
0.71	IBM	International Business	Pair Corr
0.7	T	ATT Inc Aggressive Push	Pair Corr
0.7	PG	Procter Gamble	Pair Corr
0.69	JNJ	Johnson Johnson	Pair Corr
0.61	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.6	KO	Coca Cola Aggressive Push	Pair Corr
0.58	MCD	McDonalds	Pair Corr
0.49	DD	Dupont De Nemours	Pair Corr
0.36	JPM	JPMorgan Chase Sell-off Trend	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.02	0.56	-0.5	0.23	0.5	0.49	0.9	-0.71	-0.07	META
MSFT	0.02		-0.59	-0.04	-0.83	0.57	0.62	0.21	0.41	-0.57	MSFT
UBER	0.56	-0.59		-0.31	0.78	-0.12	-0.21	0.48	-0.84	0.55	UBER
F	-0.5	-0.04	-0.31		0.06	-0.09	-0.15	-0.35	0.4	0.38	F
T	0.23	-0.83	0.78	0.06		-0.5	-0.53	0.07	-0.63	0.59	T
A	0.5	0.57	-0.12	-0.09	-0.5		0.88	0.68	0.05	-0.26	A
CRM	0.49	0.62	-0.21	-0.15	-0.53	0.88		0.62	0.05	-0.38	CRM
JPM	0.9	0.21	0.48	-0.35	0.07	0.68	0.62		-0.6	0.03	JPM
MRK	-0.71	0.41	-0.84	0.4	-0.63	0.05	0.05	-0.6		-0.36	MRK
XOM	-0.07	-0.57	0.55	0.38	0.59	-0.26	-0.38	0.03	-0.36		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.9	META
CRM	+ 0.88	A
T	+ 0.78	UBER
JPM	+ 0.68	A
CRM	+ 0.62	MSFT
JPM	+ 0.62	CRM

High negative correlations

MRK	- 0.84	UBER
T	- 0.83	MSFT
MRK	- 0.71	META
MRK	- 0.63	T
MRK	- 0.6	JPM
UBER	- 0.59	MSFT

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
META	1.61	0.05	0.02	0.04	2.24	(1.45)	2.96	(3.73)	8.90
MSFT	1.07	(0.17)	0.00	(0.20)	0.00	0.00	2.58	(2.14)	10.31
UBER	1.92	0.31	0.14	0.48	2.11	(2.12)	4.72	(3.13)	12.75
F	1.44	0.11	0.05	(0.36)	2.16	(1.40)	2.71	(2.88)	10.14
T	0.99	0.29	0.17	(24.36)	1.45	(1.12)	1.90	(1.55)	11.66
A	1.17	(0.20)	0.00	(0.20)	0.00	0.00	2.92	(2.59)	9.03
CRM	1.43	(0.31)	0.00	(0.28)	0.00	0.00	2.72	(3.53)	8.88
JPM	1.09	0.14	0.08	0.11	1.55	(1.09)	2.16	(1.98)	6.85
MRK	1.22	(0.15)	0.00	1.32	0.00	0.00	2.07	(2.25)	11.58
XOM	1.02	0.17	0.12	0.40	1.24	(1.06)	2.55	(2.36)	5.89

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