ProShares UltraShort Correlations

BZQ Etf

USD 15.56 0.82 5.01%

The current 90-days correlation between ProShares UltraShort MSCI and ProShares UltraShort FTSE is 0.18 (i.e., Average 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

Good diversification

The correlation between ProShares UltraShort MSCI and DJI is -0.12 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort MSCI and DJI in the same portfolio, assuming nothing else is changed.

Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort MSCI. 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 together with ProShares Etf

0.78	MLPR	ETRACS Quarterly Pay	Pair Corr
0.67	SGG	Barclays Capital	Pair Corr
0.8	AMZA	InfraCap MLP ETF	Pair Corr
0.87	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.86	ATMP	Barclays ETN Select	Pair Corr
0.84	CSCO	Cisco Systems	Pair Corr
0.85	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.68	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.71	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.8	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.7	HD	Home Depot	Pair Corr

Moving against ProShares Etf

0.81	SPXU	ProShares UltraPro Short	Pair Corr
0.81	TAIL	Cambria Tail Risk	Pair Corr
0.8	SDS	ProShares UltraShort	Pair Corr
0.8	SPXS	Direxion Daily SP	Pair Corr
0.8	DOG	ProShares Short Dow30	Pair Corr
0.79	SH	ProShares Short SP500	Pair Corr
0.79	PSQ	ProShares Short QQQ	Pair Corr
0.79	SPDN	Direxion Daily SP	Pair Corr
0.78	QID	ProShares UltraShort QQQ	Pair Corr
0.77	RWM	ProShares Short Russ	Pair Corr
0.56	NRGU	Bank Of Montreal	Pair Corr
0.79	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.36	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.35	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.34	DD	Dupont De Nemours Sell-off Trend	Pair Corr

Related Correlations Analysis

	EPV	EWV	UBR	EEV	EDZ
EPV		0.64	-0.78	0.54	0.5	EPV
EWV	0.64		-0.29	0.38	0.35	EWV
UBR	-0.78	-0.29		-0.32	-0.27	UBR
EEV	0.54	0.38	-0.32		1.0	EEV
EDZ	0.5	0.35	-0.27	1.0		EDZ
	EPV	EWV	UBR	EEV	EDZ

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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

EDZ	+ 1.0	EEV
EWV	+ 0.64	EPV
EEV	+ 0.54	EPV
EDZ	+ 0.5	EPV
EEV	+ 0.38	EWV
EDZ	+ 0.35	EWV

High negative correlations

UBR	- 0.78	EPV
EEV	- 0.32	UBR
UBR	- 0.29	EWV
EDZ	- 0.27	UBR

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
EPV	1.42	0.15	(0.01)	(0.19)	1.56	(1.62)	3.07	(3.02)	7.90
EWV	1.63	0.06	0.00	0.06	0.00	0.00	3.70	(2.94)	8.55
UBR	1.98	(0.36)	0.00	(0.60)	0.00	0.00	4.05	(5.92)	13.27
EEV	1.66	(0.10)	0.00	0.47	0.00	0.00	4.01	(4.69)	10.02
EDZ	2.47	(0.12)	0.00	0.32	0.00	0.00	6.23	(6.28)	14.68

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