ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort Industrials
SIJ Etf  USD 7.95  0.18  2.21%   
The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Consumer is 0.24 (i.e., Modest diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraShort moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraShort Industrials moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Excellent diversification

The correlation between ProShares UltraShort Industria and DJI is -0.58 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Industria 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 Industrials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with ProShares Etf

  0.73SH ProShares Short SP500PairCorr
  0.68SPXU ProShares UltraPro ShortPairCorr
  0.7SDS ProShares UltraShort Aggressive PushPairCorr
  0.68SPXS Direxion Daily SP Aggressive PushPairCorr
  0.79RWM ProShares Short RussPairCorr
  0.92DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.68PFFL ETRACS 2xMonthly PayPairCorr
  0.67AA Alcoa CorpPairCorr
  0.6ULE ProShares Ultra EuroPairCorr
  0.54CEFD ETRACS Monthly PayPairCorr
  0.53SIXD AIM ETF ProductsPairCorr
  0.53YCL ProShares Ultra Yen Potential GrowthPairCorr
  0.46FXY Invesco CurrencySharesPairCorr
  0.34PMBS PIMCO Mortgage BackedPairCorr
  0.77CAT CaterpillarPairCorr
  0.75BAC Bank of America Aggressive PushPairCorr
  0.7TRV The Travelers CompaniesPairCorr
  0.7CVX Chevron CorpPairCorr
  0.62DD Dupont De NemoursPairCorr
  0.55DIS Walt DisneyPairCorr
  0.51VZ Verizon Communications Sell-off TrendPairCorr
  0.43INTC IntelPairCorr
  0.43AXP American ExpressPairCorr

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   
SDP
+ 0.8
RXD
SDP
+ 0.55
SZK
RXD
+ 0.5
SZK
SCC
+ 0.5
REW
REW
+ 0.19
SZK
REW
+ 0.17
SDP
  
High negative correlations   
SCC
- 0.46
SDP
SCC
- 0.28
RXD
SCC
- 0.28
SZK
REW
- 0.11
RXD

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.

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