ProShares UltraShort Correlations

EUO Etf

USD 28.16 0.19 0.67%

The current 90-days correlation between ProShares UltraShort Euro and BondBloxx ETF Trust is -0.08 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraShort moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraShort Euro moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Excellent diversification

The correlation between ProShares UltraShort Euro and DJI is -0.6 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Euro 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 Euro. 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

0.97	UUP	Invesco DB Dollar Sell-off Trend	Pair Corr
0.63	VXX	iPath Series B Downward Rally	Pair Corr
0.63	VIXY	ProShares VIX Short Downward Rally	Pair Corr
0.63	VIXM	ProShares VIX Mid	Pair Corr
0.64	VXZ	iPath Series B	Pair Corr

Moving against ProShares Etf

0.97	UDN	Invesco DB Dollar	Pair Corr
0.69	GAPR	First Trust Exchange	Pair Corr
0.68	QTAP	Innovator Growth 100	Pair Corr
0.68	XTAP	Innovator Equity Acc	Pair Corr
0.66	XTJA	Innovator ETFs Trust	Pair Corr
0.63	XTOC	Innovator ETFs Trust	Pair Corr
0.63	OASC	OneAscent Small Cap	Pair Corr
0.61	QTJA	Innovator ETFs Trust	Pair Corr
0.57	QTOC	Innovator ETFs Trust	Pair Corr
0.55	CEFD	ETRACS Monthly Pay	Pair Corr
0.53	RDIV	Invesco SP Ultra	Pair Corr
0.49	VBK	Vanguard Small Cap	Pair Corr
0.48	UPRO	ProShares UltraPro SP500	Pair Corr
0.67	JNJ	Johnson Johnson	Pair Corr
0.65	BINC	BlackRock ETF Trust	Pair Corr
0.65	AHYB	American Century ETF	Pair Corr
0.64	MCD	McDonalds Earnings Call This Week	Pair Corr
0.64	DD	Dupont De Nemours Earnings Call Today	Pair Corr
0.61	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.59	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.57	CSCO	Cisco Systems Earnings Call Tomorrow	Pair Corr
0.55	BA	Boeing	Pair Corr
0.44	CVX	Chevron Corp	Pair Corr
0.41	KO	Coca Cola Aggressive Push	Pair Corr
0.31	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	NURE	SOYB	QQUP	EURL	WBIL	MARB	UTSL	NTSE	EAOA	XHYF
NURE		-0.55	-0.23	0.78	0.54	0.78	-0.45	0.67	0.72	0.82	NURE
SOYB	-0.55		0.38	-0.66	-0.49	-0.59	0.81	-0.44	-0.65	-0.76	SOYB
QQUP	-0.23	0.38		-0.34	-0.06	-0.11	0.12	-0.45	-0.22	-0.22	QQUP
EURL	0.78	-0.66	-0.34		0.78	0.82	-0.64	0.91	0.95	0.93	EURL
WBIL	0.54	-0.49	-0.06	0.78		0.55	-0.48	0.69	0.91	0.78	WBIL
MARB	0.78	-0.59	-0.11	0.82	0.55		-0.68	0.67	0.74	0.84	MARB
UTSL	-0.45	0.81	0.12	-0.64	-0.48	-0.68		-0.38	-0.6	-0.75	UTSL
NTSE	0.67	-0.44	-0.45	0.91	0.69	0.67	-0.38		0.87	0.78	NTSE
EAOA	0.72	-0.65	-0.22	0.95	0.91	0.74	-0.6	0.87		0.92	EAOA
XHYF	0.82	-0.76	-0.22	0.93	0.78	0.84	-0.75	0.78	0.92		XHYF
	NURE	SOYB	QQUP	EURL	WBIL	MARB	UTSL	NTSE	EAOA	XHYF

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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

EAOA	+ 0.95	EURL
XHYF	+ 0.93	EURL
XHYF	+ 0.92	EAOA
NTSE	+ 0.91	EURL
EAOA	+ 0.91	WBIL
EAOA	+ 0.87	NTSE

High negative correlations

XHYF	- 0.76	SOYB
XHYF	- 0.75	UTSL
UTSL	- 0.68	MARB
EURL	- 0.66	SOYB
EAOA	- 0.65	SOYB
UTSL	- 0.64	EURL

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
NURE	0.82	0.05	0.02	0.17	0.75	(0.92)	2.03	(1.48)	4.05
SOYB	0.57	(0.04)	0.00	(0.36)	0.00	0.00	1.50	(1.16)	3.20
QQUP	1.72	(0.24)	0.00	3.44	0.00	0.00	2.66	(4.09)	14.25
EURL	1.99	0.27	0.15	0.20	2.09	(2.17)	4.47	(3.81)	8.94
WBIL	0.67	(0.04)	(0.06)	0.03	0.83	(0.67)	1.33	(1.54)	3.10
MARB	0.14	0.02	(0.26)	1.19	0.00	(0.21)	0.34	(0.19)	1.47
UTSL	1.92	(0.20)	0.00	(0.18)	0.00	0.00	3.65	(4.08)	10.90
NTSE	0.76	0.09	0.08	0.22	0.66	(0.86)	1.92	(1.17)	4.95
EAOA	0.48	(0.01)	(0.05)	0.07	0.59	(0.48)	1.05	(1.02)	2.91
XHYF	0.12	0.01	(0.41)	0.16	0.00	(0.15)	0.27	(0.22)	0.80

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