ProShares UltraShort Correlations
| SSG Etf | USD 27.81 1.24 4.27% |
The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Technology is 0.04 (i.e., Significant 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.
ProShares UltraShort Correlation With Market
Good diversification
The correlation between ProShares UltraShort Semicondu and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Semicondu and DJI in the same portfolio, assuming nothing else is changed.
ProShares |
Moving together with ProShares Etf
| 0.62 | SH | ProShares Short SP500 | PairCorr |
| 0.62 | PSQ | ProShares Short QQQ | PairCorr |
| 0.65 | SPXU | ProShares UltraPro Short | PairCorr |
| 0.69 | SDS | ProShares UltraShort Aggressive Push | PairCorr |
| 0.7 | SPXS | Direxion Daily SP Aggressive Push | PairCorr |
| 0.63 | QID | ProShares UltraShort QQQ | PairCorr |
| 0.67 | SPDN | Direxion Daily SP | PairCorr |
| 0.78 | TAIL | Cambria Tail Risk | PairCorr |
| 0.81 | NRGU | Bank Of Montreal | PairCorr |
Moving against ProShares Etf
| 0.82 | USD | ProShares Ultra Semi | PairCorr |
| 0.51 | GBTC | Grayscale Bitcoin Trust | PairCorr |
| 0.47 | ATMP | Barclays ETN Select | PairCorr |
| 0.39 | SGG | Barclays Capital | PairCorr |
| 0.75 | CSCO | Cisco Systems | PairCorr |
| 0.63 | BAC | Bank of America Fiscal Year End 10th of January 2025 | PairCorr |
| 0.6 | AA | Alcoa Corp Fiscal Year End 15th of January 2025 | PairCorr |
| 0.57 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
| 0.47 | HPQ | HP Inc | PairCorr |
| 0.46 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
| 0.33 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
Related Correlations Analysis
| 0.65 | -0.26 | -0.6 | -0.22 | REW | ||
| 0.65 | -0.02 | -0.17 | 0.37 | SIJ | ||
| -0.26 | -0.02 | 0.57 | 0.51 | SZK | ||
| -0.6 | -0.17 | 0.57 | 0.49 | RXD | ||
| -0.22 | 0.37 | 0.51 | 0.49 | SDP | ||
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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
| High negative correlations
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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.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| REW | 1.74 | (0.14) | 0.00 | 0.10 | 0.00 | 4.74 | 11.53 | |||
| SIJ | 1.32 | 0.06 | (0.01) | 0.00 | 2.18 | 2.32 | 10.33 | |||
| SZK | 0.94 | 0.14 | 0.11 | (0.41) | 0.90 | 2.03 | 5.31 | |||
| RXD | 1.20 | 0.45 | 0.34 | (0.39) | 0.79 | 2.78 | 5.96 | |||
| SDP | 1.62 | 0.14 | 0.05 | (0.22) | 1.94 | 4.16 | 8.72 |