ProShares Short Correlations

PSQ Etf

USD 38.32 0.05 0.13%

The current 90-days correlation between ProShares Short QQQ and ProShares Short SP500 is 0.95 (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

Excellent diversification

The correlation between ProShares Short QQQ and DJI is -0.68 (i.e., Excellent 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.

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

0.98	SH	ProShares Short SP500 Sell-off Trend	Pair Corr
0.98	SPXU	ProShares UltraPro Short	Pair Corr
0.98	SDS	ProShares UltraShort	Pair Corr
0.98	SPXS	Direxion Daily SP	Pair Corr
1.0	QID	ProShares UltraShort QQQ Sell-off Trend	Pair Corr
0.87	RWM	ProShares Short Russ	Pair Corr
0.98	SPDN	Direxion Daily SP Sell-off Trend	Pair Corr
0.89	TAIL	Cambria Tail Risk	Pair Corr
0.91	DOG	ProShares Short Dow30	Pair Corr
0.7	KO	Coca Cola Aggressive Push	Pair Corr
0.77	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr

Moving against ProShares Etf

0.98	UPRO	ProShares UltraPro SP500	Pair Corr
0.98	QTAP	Innovator Growth 100	Pair Corr
0.97	XTAP	Innovator Equity Acc	Pair Corr
0.96	QTJA	Innovator ETFs Trust	Pair Corr
0.94	XDJA	Innovator ETFs Trust	Pair Corr
0.93	XTJA	Innovator ETFs Trust	Pair Corr
0.83	QTOC	Innovator ETFs Trust	Pair Corr
0.82	XTOC	Innovator ETFs Trust	Pair Corr
0.82	TSJA	TSJA	Pair Corr
0.82	DSJA	DSJA	Pair Corr
0.91	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.9	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.89	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.85	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.8	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.76	WMT	Walmart Aggressive Push	Pair Corr
0.76	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.76	HD	Home Depot	Pair Corr
0.67	XOM	Exxon Mobil Corp Sell-off Trend	Pair Corr
0.67	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.61	T	ATT Inc Aggressive Push	Pair Corr
0.42	IBM	International Business Fiscal Year End 22nd of January 2025	Pair Corr
0.41	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.39	MCD	McDonalds Fiscal Year End 3rd of February 2025	Pair Corr
0.32	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	SH	DOG	RWM	QID	MYY
SH		0.96	0.9	0.98	0.95	SH
DOG	0.96		0.92	0.91	0.95	DOG
RWM	0.9	0.92		0.86	0.98	RWM
QID	0.98	0.91	0.86		0.91	QID
MYY	0.95	0.95	0.98	0.91		MYY
	SH	DOG	RWM	QID	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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
SH	0.55	0.02	0.10	1.37	(1.13)	4.64
DOG	0.56	0.01	0.11	0.98	(1.07)	5.03
RWM	0.94	0.03	0.10	1.74	(2.07)	8.92
QID	1.54	0.07	0.08	4.93	(3.05)	11.55
MYY	0.73	0.01	0.12	1.15	(1.70)	6.81

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