ProShares UltraShort Correlations

QQDN Etf

29.74 1.00 3.48%

The current 90-days correlation between ProShares UltraShort Top and City Different Investments is -0.53 (i.e., Excellent 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 Top moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Very weak diversification

The correlation between ProShares UltraShort Top and DJI is 0.58 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Top 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 UltraShort Top. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Moving together with ProShares Etf

0.81	PSQ	ProShares Short QQQ	Pair Corr
0.74	QID	ProShares UltraShort QQQ	Pair Corr
0.67	DFEN	Direxion Daily Aerospace	Pair Corr
0.72	DGP	DB Gold Double	Pair Corr
0.68	UGL	ProShares Ultra Gold	Pair Corr
0.64	NUGT	Direxion Daily Gold	Pair Corr
0.84	DIG	ProShares Ultra Oil	Pair Corr
0.82	MLPR	ETRACS Quarterly Pay	Pair Corr
0.85	DUSL	Direxion Daily Indus	Pair Corr
0.68	PSMR	Pacer Swan SOS	Pair Corr
0.81	MEXX	Direxion Daily MSCI	Pair Corr
0.82	DISV	Dimensional ETF Trust	Pair Corr
0.69	ETHO	Amplify Etho Climate	Pair Corr
0.85	TAXT	Northern Trust Tax	Pair Corr
0.74	AHYB	American Century ETF	Pair Corr
0.84	VYMI	Vanguard International	Pair Corr
0.75	DFE	WisdomTree Europe	Pair Corr
0.86	VDC	Vanguard Consumer Staples	Pair Corr
0.76	IJS	iShares SP Small	Pair Corr
0.82	PID	Invesco International	Pair Corr
0.72	RHRX	Starboard Investment	Pair Corr
0.84	STXV	EA Series Trust	Pair Corr
0.85	ERET	iShares Environmentally	Pair Corr
0.78	HIYS	Invesco High Yield Symbol Change	Pair Corr
0.68	LQIG	SPDR MarketAxess Inv	Pair Corr
0.8	FNK	First Trust Mid	Pair Corr

Moving against ProShares Etf

0.79	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.55	RWM	ProShares Short Russ	Pair Corr
0.51	DOG	ProShares Short Dow30	Pair Corr
0.51	ENTR	EntrepreneurShares	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.12	-0.14	0.13	0.12	-0.31	-0.04	0.23	0.08	0.21	META
MSFT	-0.12		0.84	-0.65	-0.86	0.8	0.93	0.33	-0.91	-0.94	MSFT
UBER	-0.14	0.84		-0.57	-0.77	0.85	0.75	0.19	-0.81	-0.83	UBER
F	0.13	-0.65	-0.57		0.41	-0.59	-0.51	-0.05	0.75	0.7	F
T	0.12	-0.86	-0.77	0.41		-0.65	-0.84	-0.29	0.75	0.76	T
A	-0.31	0.8	0.85	-0.59	-0.65		0.67	0.2	-0.75	-0.84	A
CRM	-0.04	0.93	0.75	-0.51	-0.84	0.67		0.53	-0.82	-0.9	CRM
JPM	0.23	0.33	0.19	-0.05	-0.29	0.2	0.53		-0.13	-0.32	JPM
MRK	0.08	-0.91	-0.81	0.75	0.75	-0.75	-0.82	-0.13		0.92	MRK
XOM	0.21	-0.94	-0.83	0.7	0.76	-0.84	-0.9	-0.32	0.92		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

CRM	+ 0.93	MSFT
XOM	+ 0.92	MRK
A	+ 0.85	UBER
UBER	+ 0.84	MSFT
A	+ 0.8	MSFT
XOM	+ 0.76	T

High negative correlations

XOM	- 0.94	MSFT
MRK	- 0.91	MSFT
XOM	- 0.9	CRM
T	- 0.86	MSFT
XOM	- 0.84	A
CRM	- 0.84	T

ProShares UltraShort Competition 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
META	1.54	0.08	0.04	0.17	1.53	(1.74)	3.43	(2.81)	13.69
MSFT	1.33	(0.31)	0.00	(0.50)	0.00	0.00	2.19	(2.87)	13.28
UBER	1.56	(0.19)	0.00	(0.30)	0.00	0.00	2.70	(3.82)	11.09
F	1.22	0.09	0.07	0.17	1.05	(1.50)	3.61	(2.22)	7.50
T	1.05	0.15	0.05	(0.64)	0.99	(1.22)	3.87	(1.76)	7.44
A	1.24	(0.41)	0.00	(0.32)	0.00	0.00	2.48	(2.73)	7.20
CRM	1.80	(0.30)	0.00	(0.18)	0.00	0.00	3.66	(4.75)	12.37
JPM	1.27	(0.11)	(0.03)	0.01	1.83	(1.30)	2.34	(3.11)	8.17
MRK	1.27	0.33	0.20	0.72	1.10	(1.42)	2.81	(2.06)	8.74
XOM	1.32	0.41	0.23	12.19	1.09	(1.57)	2.90	(2.44)	6.83

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