ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort Yen
YCS Etf  USD 44.19  0.47  1.05%   
The current 90-days correlation between ProShares UltraShort Yen and ProShares UltraShort Euro is 0.25 (i.e., Modest 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraShort Correlation With Market

Average diversification

The correlation between ProShares UltraShort Yen and DJI is 0.12 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Yen and DJI in the same portfolio, assuming nothing else is changed.
  
Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort Yen. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with ProShares Etf

  0.75UUP Invesco DB DollarPairCorr
  0.72EUO ProShares UltraShort EuroPairCorr
  0.68CAT CaterpillarPairCorr
  0.71AA Alcoa CorpPairCorr

Moving against ProShares Etf

  0.91BABX GraniteShares 175x LongPairCorr
  0.89XPP ProShares Ultra FTSEPairCorr
  0.83UDN Invesco DB DollarPairCorr
  0.77GDXU MicroSectors Gold MinersPairCorr
  0.77JNUG Direxion Daily JuniorPairCorr
  0.66VXZ iPath Series BPairCorr
  0.63VIXM ProShares VIX MidPairCorr
  0.62GE GE AerospacePairCorr
  0.54XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.41VXX iPath Series BPairCorr
  0.4VIXY ProShares VIX ShortPairCorr
  0.9VZ Verizon Communications Sell-off TrendPairCorr
  0.89KO Coca Cola Sell-off TrendPairCorr
  0.89T ATT Inc Aggressive PushPairCorr
  0.77IBM International BusinessPairCorr
  0.71PG Procter GamblePairCorr
  0.61MMM 3M CompanyPairCorr
  0.54CVX Chevron CorpPairCorr
  0.53INTC Intel Sell-off TrendPairCorr

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   
GLL
+ 0.81
EWV
ULE
+ 0.76
YCL
EWV
+ 0.66
EUO
GLL
+ 0.61
EUO
  
High negative correlations   
ULE
- 1.0
EUO
GLL
- 0.82
YCL
EWV
- 0.78
YCL
YCL
- 0.76
EUO
EWV
- 0.66
ULE
GLL
- 0.62
ULE

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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