ProShares UltraShort Correlations
TWM Etf | USD 50.06 0.57 1.15% |
The current 90-days correlation between ProShares UltraShort and ProShares UltraShort MidCap400 is 0.96 (i.e., Almost no 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 Russell2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.
ProShares UltraShort Correlation With Market
Pay attention - limited upside
The correlation between ProShares UltraShort Russell20 and DJI is -0.82 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Russell20 and DJI in the same portfolio, assuming nothing else is changed.
ProShares |
Moving together with ProShares Etf
0.86 | SH | ProShares Short SP500 | PairCorr |
0.92 | PSQ | ProShares Short QQQ | PairCorr |
0.92 | SPXU | ProShares UltraPro Short | PairCorr |
0.92 | SDS | ProShares UltraShort | PairCorr |
0.92 | SPXS | Direxion Daily SP Buyout Trend | PairCorr |
0.92 | QID | ProShares UltraShort QQQ | PairCorr |
0.97 | RWM | ProShares Short Russ | PairCorr |
0.93 | SPDN | Direxion Daily SP | PairCorr |
0.94 | TAIL | Cambria Tail Risk | PairCorr |
0.86 | DOG | ProShares Short Dow30 | PairCorr |
0.63 | BND | Vanguard Total Bond Sell-off Trend | PairCorr |
0.61 | KO | Coca Cola Aggressive Push | PairCorr |
Moving against ProShares Etf
0.93 | VB | Vanguard Small Cap | PairCorr |
0.88 | VTI | Vanguard Total Stock | PairCorr |
0.88 | VO | Vanguard Mid Cap | PairCorr |
0.86 | SPY | SPDR SP 500 | PairCorr |
0.84 | VUG | Vanguard Growth Index | PairCorr |
0.79 | IVV | iShares Core SP | PairCorr |
0.41 | VTV | Vanguard Value Index | PairCorr |
0.92 | AXP | American Express | PairCorr |
0.74 | HPQ | HP Inc | PairCorr |
0.74 | JPM | JPMorgan Chase Sell-off Trend | PairCorr |
0.7 | CAT | Caterpillar | PairCorr |
0.67 | DIS | Walt Disney | PairCorr |
0.63 | MSFT | Microsoft | PairCorr |
0.59 | AA | Alcoa Corp | PairCorr |
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
| High negative correlations
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ProShares UltraShort Competition 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 | ||
---|---|---|---|---|---|---|---|---|---|---|
META | 1.61 | 0.05 | 0.02 | 0.04 | 2.24 | 2.96 | 8.90 | |||
MSFT | 1.07 | (0.17) | 0.00 | (0.20) | 0.00 | 2.58 | 10.31 | |||
UBER | 1.92 | 0.31 | 0.14 | 0.48 | 2.11 | 4.72 | 12.75 | |||
F | 1.44 | 0.11 | 0.05 | (0.36) | 2.16 | 2.71 | 10.14 | |||
T | 0.99 | 0.29 | 0.17 | (24.36) | 1.45 | 1.90 | 11.66 | |||
A | 1.13 | (0.15) | 0.00 | (0.15) | 0.00 | 2.92 | 9.03 | |||
CRM | 1.38 | (0.27) | 0.00 | (0.22) | 0.00 | 2.72 | 8.88 | |||
JPM | 1.09 | 0.14 | 0.08 | 0.11 | 1.55 | 2.16 | 6.85 | |||
MRK | 1.22 | (0.15) | 0.00 | 1.32 | 0.00 | 2.07 | 11.58 | |||
XOM | 1.02 | 0.17 | 0.12 | 0.40 | 1.24 | 2.55 | 5.89 |