ProShares Short Correlations

SJB Etf

USD 16.12 0.02 0.12%

The current 90-days correlation between ProShares Short High and BondBloxx ETF Trust is -0.77 (i.e., Pay attention - limited upside). 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 High and DJI is -0.57 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short High 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 High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in inflation.

Moving against ProShares Etf

0.77	EWC	iShares MSCI Canada	Pair Corr
0.58	IRET	iREIT MarketVector	Pair Corr
0.56	BST	BlackRock Science Tech	Pair Corr
0.52	ARKW	ARK Next Generation	Pair Corr
0.4	HUM	Humana Inc	Pair Corr
0.35	OIH	VanEck Oil Services	Pair Corr
0.35	CVX	Chevron Corp	Pair Corr
0.78	JPM	JPMorgan Chase	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.59	DD	Dupont De Nemours	Pair Corr
0.59	GE	GE Aerospace	Pair Corr
0.55	MMM	3M Company	Pair Corr
0.53	BAC	Bank of America	Pair Corr
0.49	IBM	International Business	Pair Corr
0.44	DIS	Walt Disney	Pair Corr
0.32	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	XB	VEMY	DUKH	MUSE	VSHY	EMHY	NHYM	NJNK	EVHY
XB		0.91	0.61	0.82	0.97	0.9	-0.03	0.97	0.94	XB
VEMY	0.91		0.41	0.91	0.93	0.99	0.06	0.94	0.98	VEMY
DUKH	0.61	0.41		0.4	0.58	0.46	0.02	0.6	0.51	DUKH
MUSE	0.82	0.91	0.4		0.83	0.9	0.04	0.86	0.9	MUSE
VSHY	0.97	0.93	0.58	0.83		0.92	0.0	0.98	0.95	VSHY
EMHY	0.9	0.99	0.46	0.9	0.92		0.05	0.94	0.98	EMHY
NHYM	-0.03	0.06	0.02	0.04	0.0	0.05		-0.01	0.03	NHYM
NJNK	0.97	0.94	0.6	0.86	0.98	0.94	-0.01		0.98	NJNK
EVHY	0.94	0.98	0.51	0.9	0.95	0.98	0.03	0.98		EVHY
	XB	VEMY	DUKH	MUSE	VSHY	EMHY	NHYM	NJNK	EVHY

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

EMHY	+ 0.99	VEMY
EVHY	+ 0.98	VEMY
NJNK	+ 0.98	VSHY
EVHY	+ 0.98	EMHY
EVHY	+ 0.98	NJNK
VSHY	+ 0.97	XB

High negative correlations

NHYM	- 0.03	XB
NJNK	- 0.01	NHYM
NHYM	- 0.0	VSHY

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XB	0.22	0.01	0.22	0.01	0.27	(0.23)	0.46	(0.46)	1.09
VEMY	0.26	0.03	0.22	0.09	0.34	(0.26)	0.58	(0.48)	1.65
DUKH	0.18	(0.01)	0.00	(0.14)	0.00	0.00	0.40	(0.36)	0.84
MUSE	0.15	0.00	0.21	0.27	0.27	(0.19)	0.30	(0.30)	2.11
VSHY	0.18	0.01	0.24	0.00	0.21	(0.21)	0.47	(0.28)	1.12
EMHY	0.24	0.02	0.20	0.05	0.33	(0.25)	0.55	(0.39)	1.53
NHYM	0.19	0.01	0.22	0.31	0.26	(0.22)	0.40	(0.39)	1.90
NJNK	0.21	0.02	0.24	0.03	0.26	(0.21)	0.41	(0.40)	1.27
EVHY	0.19	0.02	0.28	0.05	0.22	(0.20)	0.42	(0.34)	1.10

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