ProShares UltraShort Correlations

SCC Etf

USD 11.05 0.01 0.09%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Consumer is 0.14 (i.e., Average 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

Pay attention - limited upside

The correlation between ProShares UltraShort Consumer and DJI is -0.8 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Consumer and DJI in the same portfolio, assuming nothing else is changed.

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with ProShares Etf

0.94	SH	ProShares Short SP500	Pair Corr
0.95	PSQ	ProShares Short QQQ	Pair Corr
0.87	SPXU	ProShares UltraPro Short	Pair Corr
0.93	SDS	ProShares UltraShort	Pair Corr
0.92	SPXS	Direxion Daily SP	Pair Corr
0.93	QID	ProShares UltraShort QQQ	Pair Corr
0.97	RWM	ProShares Short Russ	Pair Corr
0.95	SPDN	Direxion Daily SP	Pair Corr
0.92	TAIL	Cambria Tail Risk	Pair Corr
0.82	DOG	ProShares Short Dow30	Pair Corr
0.78	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.68	VEA	Vanguard FTSE Developed	Pair Corr
0.67	GDXU	MicroSectors Gold Miners	Pair Corr
0.72	T	ATT Inc Aggressive Push	Pair Corr
0.64	MCD	McDonalds	Pair Corr
0.79	JNJ	Johnson Johnson	Pair Corr
0.76	KO	Coca Cola Aggressive Push	Pair Corr

Moving against ProShares Etf

0.96	VUG	Vanguard Growth Index	Pair Corr
0.94	VB	Vanguard Small Cap	Pair Corr
0.9	VTI	Vanguard Total Stock	Pair Corr
0.89	SPY	SPDR SP 500	Pair Corr
0.84	IVV	iShares Core SP	Pair Corr
0.78	VO	Vanguard Mid Cap	Pair Corr
0.92	AXP	American Express	Pair Corr
0.88	DIS	Walt Disney	Pair Corr
0.87	MSFT	Microsoft	Pair Corr
0.84	HPQ	HP Inc Sell-off Trend	Pair Corr
0.73	CAT	Caterpillar	Pair Corr
0.71	AA	Alcoa Corp	Pair Corr
0.52	JPM	JPMorgan Chase	Pair Corr

Related Correlations Analysis

	SZK	SIJ	RXD	REW	SDP
SZK		-0.14	0.59	-0.24	0.41	SZK
SIJ	-0.14		0.26	0.66	0.39	SIJ
RXD	0.59	0.26		-0.33	0.69	RXD
REW	-0.24	0.66	-0.33		0.01	REW
SDP	0.41	0.39	0.69	0.01		SDP
	SZK	SIJ	RXD	REW	SDP

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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

SDP	+ 0.69	RXD
REW	+ 0.66	SIJ
RXD	+ 0.59	SZK
SDP	+ 0.41	SZK
SDP	+ 0.39	SIJ
RXD	+ 0.26	SIJ

High negative correlations

REW	- 0.33	RXD
REW	- 0.24	SZK
SIJ	- 0.14	SZK

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
SZK	1.39	0.00	0.00	0.00	1.71	(1.59)	3.06	(3.06)	7.92
SIJ	1.55	(0.03)	0.00	0.01	0.00	0.00	3.31	(3.76)	8.43
RXD	1.33	(0.16)	0.00	0.15	0.00	0.00	2.32	(2.59)	6.55
REW	2.53	0.24	0.09	(0.10)	2.57	(2.86)	6.08	(4.07)	15.82
SDP	1.67	(0.03)	0.00	(0.06)	0.00	0.00	4.28	(3.62)	9.89

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