ProShares Short Correlations

PSQ Etf

USD 29.78 0.49 1.62%

The current 90-days correlation between ProShares Short QQQ and ProShares UltraPro Short is -0.08 (i.e., Good diversification). The correlation of ProShares Short 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 Short Correlation With Market

Good diversification

The correlation between ProShares Short QQQ and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short QQQ and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Short QQQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with ProShares Etf

0.93	SH	ProShares Short SP500	Pair Corr
0.69	SPXU	ProShares UltraPro Short	Pair Corr
0.9	SDS	ProShares UltraShort	Pair Corr
0.89	SPXS	Direxion Daily SP	Pair Corr
0.78	QID	ProShares UltraShort QQQ	Pair Corr
0.93	SPDN	Direxion Daily SP	Pair Corr
0.7	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.8	VUG	Vanguard Growth Index	Pair Corr
0.67	SPY	SPDR SP 500	Pair Corr
0.67	IVV	iShares Core SP	Pair Corr
0.65	VTI	Vanguard Total Stock	Pair Corr
0.65	TOT	Advisor Managed Port	Pair Corr
0.39	IRE	Tidal Trust II Trending	Pair Corr
0.35	VO	Vanguard Mid Cap	Pair Corr
0.6	INTC	Intel Sell-off Trend	Pair Corr
0.46	AXP	American Express	Pair Corr
0.45	BAC	Bank of America	Pair Corr

Related Correlations Analysis

	SPXU	SDS	QID	JNUG	NAIL	PPH	URTY	SOXQ	CFA	SGDM
SPXU		0.82	0.93	-0.38	0.05	-0.42	-0.67	-0.9	-0.65	-0.39	SPXU
SDS	0.82		0.77	-0.3	0.04	-0.34	-0.48	-0.77	-0.73	-0.3	SDS
QID	0.93	0.77		-0.1	-0.02	-0.13	-0.57	-0.91	-0.44	-0.1	QID
JNUG	-0.38	-0.3	-0.1		-0.15	0.63	0.55	0.3	0.67	0.97	JNUG
NAIL	0.05	0.04	-0.02	-0.15		-0.57	0.38	-0.16	0.24	-0.27	NAIL
PPH	-0.42	-0.34	-0.13	0.63	-0.57		0.05	0.3	0.4	0.77	PPH
URTY	-0.67	-0.48	-0.57	0.55	0.38	0.05		0.6	0.67	0.45	URTY
SOXQ	-0.9	-0.77	-0.91	0.3	-0.16	0.3	0.6		0.48	0.31	SOXQ
CFA	-0.65	-0.73	-0.44	0.67	0.24	0.4	0.67	0.48		0.61	CFA
SGDM	-0.39	-0.3	-0.1	0.97	-0.27	0.77	0.45	0.31	0.61		SGDM
	SPXU	SDS	QID	JNUG	NAIL	PPH	URTY	SOXQ	CFA	SGDM

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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

SGDM	+ 0.97	JNUG
QID	+ 0.93	SPXU
SDS	+ 0.82	SPXU
QID	+ 0.77	SDS
SGDM	+ 0.77	PPH
CFA	+ 0.67	JNUG

High negative correlations

SOXQ	- 0.91	QID
SOXQ	- 0.9	SPXU
SOXQ	- 0.77	SDS
CFA	- 0.73	SDS
URTY	- 0.67	SPXU
CFA	- 0.65	SPXU

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
SPXU	1.71	0.09	0.00	0.04	0.00	0.00	3.48	(3.63)	12.60
SDS	1.15	(0.04)	0.00	0.21	0.00	0.00	2.40	(2.28)	8.59
QID	1.67	0.10	0.00	0.03	0.00	0.00	4.09	(3.55)	12.26
JNUG	4.57	0.43	0.08	0.24	6.14	(4.78)	9.85	(9.53)	31.49
NAIL	3.11	(0.58)	0.00	(0.23)	0.00	0.00	9.62	(8.04)	21.57
PPH	0.66	0.09	0.09	0.23	0.48	(0.77)	1.83	(1.13)	4.20
URTY	3.04	(0.13)	0.03	0.04	3.77	(3.05)	5.71	(6.01)	16.72
SOXQ	1.79	0.09	0.06	0.12	2.24	(1.87)	3.39	(3.97)	10.01
CFA	0.53	(0.01)	(0.09)	0.03	0.70	(0.52)	0.96	(1.14)	2.47
SGDM	2.02	0.16	0.05	0.23	2.94	(2.09)	4.45	(4.84)	14.32

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