ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort SP500
SDS Etf  USD 20.75  0.25  1.22%   
The current 90-days correlation between ProShares UltraShort and ProShares UltraShort QQQ is 0.96 (i.e., Almost no 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

Pay attention - limited upside

The correlation between ProShares UltraShort SP500 and DJI is -0.85 (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 SP500 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 SP500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with ProShares Etf

  1.0SH ProShares Short SP500PairCorr
  0.98PSQ ProShares Short QQQPairCorr
  0.93SPXU ProShares UltraPro Short Buyout TrendPairCorr
  1.0SPXS Direxion Daily SP Buyout TrendPairCorr
  0.99QID ProShares UltraShort QQQ Buyout TrendPairCorr
  0.94RWM ProShares Short RussPairCorr
  1.0SPDN Direxion Daily SPPairCorr
  0.94TAIL Cambria Tail RiskPairCorr
  0.94DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  1.0VTI Vanguard Total StockPairCorr
  0.99SPY SPDR SP 500PairCorr
  0.98VUG Vanguard Growth IndexPairCorr
  0.96VB Vanguard Small CapPairCorr
  0.93VO Vanguard Mid CapPairCorr
  0.92IVV iShares Core SPPairCorr
  0.44VTV Vanguard Value IndexPairCorr
  0.95AXP American ExpressPairCorr
  0.86HPQ HP IncPairCorr
  0.84DIS Walt DisneyPairCorr
  0.75JPM JPMorgan Chase Sell-off TrendPairCorr
  0.74MSFT MicrosoftPairCorr
  0.64CAT CaterpillarPairCorr
  0.63AA Alcoa CorpPairCorr
  0.31DD Dupont De NemoursPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
SH
+ 0.99
QID
SH
+ 0.9
DXD
DXD
+ 0.85
QID
SKF
+ 0.82
DXD
SKF
+ 0.57
SH
SKF
+ 0.51
QID
  
High negative correlations   
SH
- 1.0
SSO
SSO
- 0.99
QID
SSO
- 0.91
DXD
SKF
- 0.6
SSO

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.

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions
 
Feedback Blog
Made with optimal in San Francisco
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY