ProShares Short Correlations

EUM Etf

USD 26.15 0.33 1.25%

The current 90-days correlation between ProShares Short MSCI and ProShares Short MSCI is 0.76 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Short moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Short MSCI moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Short Correlation With Market

Good diversification

The correlation between ProShares Short MSCI and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short MSCI and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Short 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 employment.

Moving against ProShares Etf

0.96	VWO	Vanguard FTSE Emerging	Pair Corr
0.67	TAIL	Cambria Tail Risk	Pair Corr
0.6	VEA	Vanguard FTSE Developed	Pair Corr
0.56	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.33	QID	ProShares UltraShort QQQ	Pair Corr
0.71	JNJ	Johnson Johnson	Pair Corr
0.69	KO	Coca Cola Earnings Call This Week	Pair Corr
0.64	HPQ	HP Inc	Pair Corr
0.57	MCD	McDonalds Earnings Call This Week	Pair Corr
0.55	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.54	INTC	Intel	Pair Corr
0.43	MRK	Merck Company Earnings Call This Week	Pair Corr
0.39	VZ	Verizon Communications	Pair Corr
0.36	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	EFZ	EFU	EEV	EWV	MYY
EFZ		0.99	0.83	0.66	0.38	EFZ
EFU	0.99		0.8	0.67	0.39	EFU
EEV	0.83	0.8		0.48	0.19	EEV
EWV	0.66	0.67	0.48		0.64	EWV
MYY	0.38	0.39	0.19	0.64		MYY
	EFZ	EFU	EEV	EWV	MYY

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ProShares Short Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Short 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 Short'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
EFZ	0.58	0.00	(0.09)	(0.12)	0.72	(0.62)	1.58	(1.25)	4.46
EFU	1.17	0.00	(0.05)	0.01	1.42	(1.22)	2.61	(2.23)	8.65
EEV	1.47	0.14	0.02	(0.29)	1.73	(1.50)	4.05	(2.72)	9.32
EWV	1.47	(0.11)	0.00	(0.75)	0.00	0.00	2.90	(2.94)	9.07
MYY	0.74	(0.05)	0.00	0.56	0.00	0.00	1.13	(1.61)	5.68

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ProShares Short Correlations

ProShares Short Correlation With Market

Good diversification

Moving against ProShares Etf

Related Correlations Analysis

ProShares Short Constituents Risk-Adjusted Indicators

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