ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort MSCI
BZQ Etf  USD 15.84  0.13  0.83%   
The current 90-days correlation between ProShares UltraShort MSCI and ProShares UltraShort FTSE is 0.24 (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

Very good diversification

The correlation between ProShares UltraShort MSCI and DJI is -0.21 (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 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

  0.61VUG Vanguard Growth IndexPairCorr
  0.64WMT Walmart Aggressive PushPairCorr
  0.8BA BoeingPairCorr

Moving against ProShares Etf

  0.6VEA Vanguard FTSE DevelopedPairCorr
  0.59VWO Vanguard FTSE EmergingPairCorr
  0.56VTV Vanguard Value IndexPairCorr
  0.54QID ProShares UltraShort QQQPairCorr
  0.54TAIL Cambria Tail RiskPairCorr
  0.49PSQ ProShares Short QQQ Sell-off TrendPairCorr
  0.42BND Vanguard Total BondPairCorr
  0.85XOM Exxon Mobil Corp Earnings Call TodayPairCorr
  0.83DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.8HPQ HP IncPairCorr
  0.63KO Coca Cola Earnings Call This WeekPairCorr
  0.63TRV The Travelers CompaniesPairCorr
  0.62AA Alcoa CorpPairCorr
  0.31MCD McDonalds Earnings Call This WeekPairCorr

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   
EDZ
+ 1.0
EEV
EDZ
+ 0.75
EPV
EEV
+ 0.74
EPV
EDZ
+ 0.49
EWV
EEV
+ 0.48
EWV
EWV
+ 0.47
EPV
  
High negative correlations   
EDZ
- 0.74
UBR
EEV
- 0.74
UBR
UBR
- 0.58
EPV
UBR
- 0.19
EWV

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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