ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short Financials
SEF Etf  USD 34.20  0.18  0.52%   
The current 90-days correlation between ProShares Short Fina and ProShares Short MSCI is 0.27 (i.e., Modest 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.

ProShares Short Correlation With Market

Pay attention - limited upside

The correlation between ProShares Short Financials and DJI is -0.78 (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 Short Financials 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 Short Financials. 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

  0.76SPXU ProShares UltraPro ShortPairCorr
  0.68SDS ProShares UltraShortPairCorr
  0.69SPXS Direxion Daily SPPairCorr
  0.63SPDN Direxion Daily SPPairCorr
  0.83DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.94VTV Vanguard Value IndexPairCorr
  0.85VO Vanguard Mid CapPairCorr
  0.73SPY SPDR SP 500 Aggressive PushPairCorr
  0.73IVV iShares Core SPPairCorr
  0.72VTI Vanguard Total StockPairCorr
  0.6VB Vanguard Small CapPairCorr
  0.54VUG Vanguard Growth IndexPairCorr
  0.32VEA Vanguard FTSE DevelopedPairCorr
  0.91JPM JPMorgan ChasePairCorr
  0.68GE GE AerospacePairCorr
  0.67AXP American ExpressPairCorr
  0.63CSCO Cisco SystemsPairCorr
  0.56DD Dupont De NemoursPairCorr
  0.48IBM International BusinessPairCorr
  0.48DIS Walt DisneyPairCorr
  0.37HPQ HP IncPairCorr

Related Correlations Analysis

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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   
EFZ
+ 0.91
EUM
REW
+ 0.9
MYY
MYY
+ 0.89
SBB
REW
+ 0.77
SBB
  
High negative correlations   
SBB
- 0.65
EFZ
MYY
- 0.51
EFZ
SBB
- 0.51
EUM
MYY
- 0.41
EUM
REW
- 0.39
EFZ
REW
- 0.2
EUM

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.

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