ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short SP500
SH Etf  USD 42.20  0.21  0.50%   
The current 90-days correlation between ProShares Short SP500 and ProShares Short QQQ is 0.94 (i.e., Almost no 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

Excellent diversification

The correlation between ProShares Short SP500 and DJI is -0.52 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short 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 Short 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 rate.

Moving together with ProShares Etf

  0.7PSQ ProShares Short QQQPairCorr
  0.78SPXU ProShares UltraPro ShortPairCorr
  0.79SDS ProShares UltraShort Aggressive PushPairCorr
  0.97SPXS Direxion Daily SP Aggressive PushPairCorr
  0.63RWM ProShares Short RussPairCorr
  1.0SPDN Direxion Daily SPPairCorr
  0.79DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.82SIXD AIM ETF ProductsPairCorr
  0.7PMBS PIMCO Mortgage BackedPairCorr
  0.64CEFD ETRACS Monthly PayPairCorr
  0.61FXY Invesco CurrencySharesPairCorr
  0.56YCL ProShares Ultra YenPairCorr
  0.48PFFL ETRACS 2xMonthly PayPairCorr
  0.48ULE ProShares Ultra EuroPairCorr
  0.61DD Dupont De NemoursPairCorr
  0.51VZ Verizon Communications Aggressive PushPairCorr
  0.46WMT WalmartPairCorr
  0.46BAC Bank of AmericaPairCorr
  0.45MCD McDonaldsPairCorr
  0.43DIS Walt DisneyPairCorr
  0.43T ATT Inc Aggressive PushPairCorr
  0.42IBM International BusinessPairCorr
  0.42AXP American ExpressPairCorr
  0.42CAT CaterpillarPairCorr
  0.37TRV The Travelers CompaniesPairCorr
  0.37JNJ Johnson JohnsonPairCorr
  0.36GE GE AerospacePairCorr
  0.35MSFT MicrosoftPairCorr
  0.33CVX Chevron CorpPairCorr
  0.32INTC Intel Downward RallyPairCorr

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   
QID
+ 0.81
PSQ
SDS
+ 0.8
DOG
QID
+ 0.73
SDS
RWM
+ 0.7
DOG
SDS
+ 0.65
PSQ
RWM
+ 0.35
SDS
  
High negative correlations   
QID
- 0.28
RWM
RWM
- 0.01
PSQ

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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