ProShares UltraShort Correlations

DUG Etf

USD 21.70 0.32 1.45%

The current 90-days correlation between ProShares UltraShort Oil and Harbor ETF Trust is -0.29 (i.e., Very good 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.

ProShares UltraShort Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraShort Oil and DJI is -0.72 (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 Oil and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort Oil. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in population.

Moving together with ProShares Etf

0.7	RWM	ProShares Short Russ	Pair Corr
0.67	DOG	ProShares Short Dow30 Sell-off Trend	Pair Corr
0.77	ARKW	ARK Next Generation	Pair Corr
0.63	HUM	Humana Inc	Pair Corr
0.82	HPQ	HP Inc	Pair Corr
0.88	MSFT	Microsoft Sell-off Trend	Pair Corr

Moving against ProShares Etf

0.98	OIH	VanEck Oil Services	Pair Corr
0.93	RDIV	Invesco SP Ultra	Pair Corr
0.84	BINC	BlackRock ETF Trust	Pair Corr
0.68	EWC	iShares MSCI Canada	Pair Corr
0.67	OASC	OneAscent Small Cap	Pair Corr
0.61	VBK	Vanguard Small Cap	Pair Corr
0.6	WTMF	WisdomTree Managed	Pair Corr
0.55	TOT	Advisor Managed Port	Pair Corr
0.52	BST	BlackRock Science Tech	Pair Corr
0.98	CVX	Chevron Corp	Pair Corr
0.98	XOM	Exxon Mobil Corp	Pair Corr
0.94	CAT	Caterpillar	Pair Corr
0.86	INTC	Intel	Pair Corr
0.86	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.8	WMT	Walmart Common Stock Earnings Call This Week	Pair Corr
0.76	PG	Procter Gamble	Pair Corr
0.74	BA	Boeing	Pair Corr
0.73	AHYB	American Century ETF	Pair Corr
0.71	VZ	Verizon Communications Aggressive Push	Pair Corr
0.68	AA	Alcoa Corp	Pair Corr
0.59	CSCO	Cisco Systems	Pair Corr

Related Correlations Analysis

	EEV	QQDN	SMDD	UBR	SPMV	EPSB
EEV		-0.56	0.85	-0.89	-0.68	-0.92	EEV
QQDN	-0.56		-0.46	0.57	0.17	0.62	QQDN
SMDD	0.85	-0.46		-0.71	-0.85	-0.97	SMDD
UBR	-0.89	0.57	-0.71		0.51	0.81	UBR
SPMV	-0.68	0.17	-0.85	0.51		0.79	SPMV
EPSB	-0.92	0.62	-0.97	0.81	0.79		EPSB
	EEV	QQDN	SMDD	UBR	SPMV	EPSB

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

SMDD	+ 0.85	EEV
EPSB	+ 0.81	UBR
EPSB	+ 0.79	SPMV
EPSB	+ 0.62	QQDN
UBR	+ 0.57	QQDN
SPMV	+ 0.51	UBR

High negative correlations

EPSB	- 0.97	SMDD
EPSB	- 0.92	EEV
UBR	- 0.89	EEV
SPMV	- 0.85	SMDD
UBR	- 0.71	SMDD
SPMV	- 0.68	EEV

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
EEV	1.44	(0.27)	0.00	0.28	0.00	0.00	2.52	(3.72)	9.66
QQDN	1.80	0.32	0.07	(0.15)	1.98	(2.07)	4.35	(2.80)	11.48
SMDD	2.14	(0.16)	0.00	0.12	0.00	0.00	4.20	(5.55)	15.11
UBR	2.45	0.53	0.15	0.47	3.35	(2.69)	5.34	(5.88)	17.95
SPMV	0.50	(0.01)	(0.06)	0.06	0.56	(0.54)	0.98	(1.08)	2.57
EPSB	0.77	0.17	0.21	0.24	0.45	(0.92)	2.49	(1.20)	4.06

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC