ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short QQQ
PSQ Etf  USD 40.62  1.06  2.68%   
The current 90-days correlation between ProShares Short QQQ and ProShares Short SP500 is 0.96 (i.e., Almost no 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

ProSharesDowDiversified AwayProSharesDowDiversified Away100%

Pay attention - limited upside

The correlation between ProShares Short QQQ and DJI is -0.74 (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 Short QQQ and DJI in the same portfolio, assuming nothing else is changed.
  
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 state.

Moving together with ProShares Etf

  0.99SH ProShares Short SP500PairCorr
  0.98SPXU ProShares UltraPro Short Buyout TrendPairCorr
  0.99SDS ProShares UltraShort Buyout TrendPairCorr
  0.98SPXS Direxion Daily SP Buyout TrendPairCorr
  1.0QID ProShares UltraShort QQQ Buyout TrendPairCorr
  0.95RWM ProShares Short RussPairCorr
  0.99SPDN Direxion Daily SPPairCorr
  0.95TAIL Cambria Tail Risk Low VolatilityPairCorr
  0.88DOG ProShares Short Dow30PairCorr
  0.68BND Vanguard Total BondPairCorr
  0.65JNJ Johnson JohnsonPairCorr

Moving against ProShares Etf

  1.0VUG Vanguard Growth IndexPairCorr
  0.98VTI Vanguard Total StockPairCorr
  0.97SPY SPDR SP 500PairCorr
  0.97IVV iShares Core SPPairCorr
  0.95VB Vanguard Small CapPairCorr
  0.88VO Vanguard Mid CapPairCorr
  0.41VTV Vanguard Value IndexPairCorr
  0.92AXP American ExpressPairCorr
  0.91HPQ HP IncPairCorr
  0.85DIS Walt DisneyPairCorr
  0.8MSFT MicrosoftPairCorr
  0.74AA Alcoa CorpPairCorr
  0.67JPM JPMorgan ChasePairCorr
  0.64CAT CaterpillarPairCorr

Related Correlations Analysis

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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.

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