ProShares UltraShort Correlations

EWV Etf

USD 20.60 1.73 7.75%

The current 90-days correlation between ProShares UltraShort MSCI and Shelton Equity Premium is -0.49 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraShort Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraShort MSCI and DJI is -0.89 (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 MSCI 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 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 child.

Moving together with ProShares Etf

0.64	SH	ProShares Short SP500	Pair Corr
0.72	SPXU	ProShares UltraPro Short Downward Rally	Pair Corr
0.7	SDS	ProShares UltraShort	Pair Corr
0.71	SPXS	Direxion Daily SP Downward Rally	Pair Corr
0.86	RWM	ProShares Short Russ	Pair Corr
0.62	SPDN	Direxion Daily SP	Pair Corr
0.8	TAIL	Cambria Tail Risk	Pair Corr
0.86	DOG	ProShares Short Dow30	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.72	MSFT	Microsoft	Pair Corr

Moving against ProShares Etf

0.93	OIH	VanEck Oil Services	Pair Corr
0.9	RDIV	Invesco SP Ultra	Pair Corr
0.89	BINC	BlackRock ETF Trust	Pair Corr
0.83	OASC	OneAscent Small Cap	Pair Corr
0.83	VBK	Vanguard Small Cap	Pair Corr
0.8	WTMF	WisdomTree Managed	Pair Corr
0.8	TOT	Advisor Managed Port	Pair Corr
0.79	EWC	iShares MSCI Canada	Pair Corr
0.61	BST	BlackRock Science Tech	Pair Corr
0.93	CAT	Caterpillar	Pair Corr
0.9	CVX	Chevron Corp	Pair Corr
0.89	BA	Boeing	Pair Corr
0.88	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.85	INTC	Intel Aggressive Push	Pair Corr
0.83	AHYB	American Century ETF	Pair Corr
0.82	AA	Alcoa Corp	Pair Corr
0.79	WMT	Walmart Common Stock Aggressive Push	Pair Corr
0.7	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.45	VZ	Verizon Communications Aggressive Push	Pair Corr
0.4	PG	Procter Gamble	Pair Corr
0.37	DIS	Walt Disney	Pair Corr
0.32	CSCO	Cisco Systems Earnings Call This Week	Pair Corr

Related Correlations Analysis

	BZQ	SBB	KBAB	EEV	FRIZ	FXP	BNDS	MUNB	MYCM	SEPI
BZQ		0.76	-0.37	0.88	-0.65	0.31	-0.94	-0.89	-0.64	-0.68	BZQ
SBB	0.76		-0.13	0.79	-0.91	0.17	-0.9	-0.84	-0.83	-0.85	SBB
KBAB	-0.37	-0.13		-0.44	0.02	-0.65	0.26	0.26	-0.1	0.11	KBAB
EEV	0.88	0.79	-0.44		-0.7	0.54	-0.91	-0.94	-0.61	-0.75	EEV
FRIZ	-0.65	-0.91	0.02	-0.7		-0.25	0.79	0.74	0.88	0.91	FRIZ
FXP	0.31	0.17	-0.65	0.54	-0.25		-0.24	-0.32	-0.05	-0.36	FXP
BNDS	-0.94	-0.9	0.26	-0.91	0.79	-0.24		0.95	0.78	0.8	BNDS
MUNB	-0.89	-0.84	0.26	-0.94	0.74	-0.32	0.95		0.71	0.7	MUNB
MYCM	-0.64	-0.83	-0.1	-0.61	0.88	-0.05	0.78	0.71		0.82	MYCM
SEPI	-0.68	-0.85	0.11	-0.75	0.91	-0.36	0.8	0.7	0.82		SEPI
	BZQ	SBB	KBAB	EEV	FRIZ	FXP	BNDS	MUNB	MYCM	SEPI

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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

MUNB	+ 0.95	BNDS
SEPI	+ 0.91	FRIZ
EEV	+ 0.88	BZQ
MYCM	+ 0.88	FRIZ
SEPI	+ 0.82	MYCM
SEPI	+ 0.8	BNDS

High negative correlations

MUNB	- 0.94	EEV
BNDS	- 0.94	BZQ
BNDS	- 0.91	EEV
FRIZ	- 0.91	SBB
BNDS	- 0.9	SBB
MUNB	- 0.89	BZQ

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
BZQ	2.38	(0.53)	0.00	0.48	0.00	0.00	5.20	(5.71)	20.85
SBB	0.90	(0.08)	0.00	0.15	0.00	0.00	1.59	(2.57)	5.20
KBAB	3.89	(0.15)	0.00	(0.08)	0.00	0.00	10.46	(6.95)	26.87
EEV	1.46	(0.15)	0.00	0.19	0.00	0.00	2.88	(3.72)	9.32
FRIZ	0.50	0.00	(0.03)	0.08	0.59	(0.54)	0.90	(0.99)	3.18
FXP	1.77	0.13	(0.02)	(0.02)	2.60	(1.71)	2.98	(3.44)	11.01
BNDS	0.14	0.04	(0.18)	0.51	0.00	(0.18)	0.32	(0.22)	0.89
MUNB	0.06	0.02	(0.72)	0.81	0.00	(0.07)	0.16	(0.11)	0.42
MYCM	0.15	0.01	(0.36)	0.19	0.03	(0.17)	0.37	(0.28)	0.77
SEPI	0.66	(0.01)	(0.04)	0.07	0.80	(0.66)	1.09	(1.35)	5.24

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