ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort Consumer
SZK Etf  USD 12.29  0.50  3.91%   
The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Health is 0.59 (i.e., Very weak 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 Consumer moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Very good diversification

The correlation between ProShares UltraShort Consumer and DJI is -0.33 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Consumer 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 Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving against ProShares Etf

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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   
REW
+ 0.92
SCC
SDP
+ 0.69
RXD
SCC
+ 0.66
SIJ
REW
+ 0.66
SIJ
SDP
+ 0.39
SIJ
SIJ
+ 0.26
RXD
  
High negative correlations   
SCC
- 0.36
RXD
REW
- 0.33
RXD
SDP
- 0.17
SCC

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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