ProShares Short Correlations

REK Etf  USD 17.21  0.01  0.06%   
The current 90-days correlation between ProShares Short Real and ProShares UltraShort Financials is 0.59 (i.e., Very weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Short moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Short Real moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Short Correlation With Market

Very good diversification

The correlation between ProShares Short Real and DJI is -0.45 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short Real 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 Real. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with ProShares Etf

  0.76CSCO Cisco SystemsPairCorr
  0.7DD Dupont De NemoursPairCorr
  0.63JNJ Johnson JohnsonPairCorr

Moving against ProShares Etf

  0.47TAIL Cambria Tail RiskPairCorr
  0.36DOG ProShares Short Dow30PairCorr
  0.8HD Home DepotPairCorr
  0.77PG Procter GamblePairCorr
  0.7HPQ HP IncPairCorr
  0.66T ATT IncPairCorr
  0.43CVX Chevron CorpPairCorr
  0.36BA BoeingPairCorr

Related Correlations Analysis


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

SEFSKF
EQRRUPV
HAUSMSFD
SHRTHAUS
SHRTMSFD
EQRRHAUS
  

High negative correlations

UPVSKF
SEFUPV
EQRRSKF
EQRRSEF
MSFDEFZ
HAUSSKF

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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SKF  1.28  0.06  0.00  0.02  0.00 
 3.51 
 9.31 
UPV  1.17  0.09  0.09  0.12  1.21 
 2.39 
 5.08 
EUM  0.75 (0.04) 0.00  0.10  0.00 
 1.41 
 6.72 
SEF  0.63  0.03  0.00  0.02  0.00 
 1.77 
 4.53 
EFZ  0.53 (0.03) 0.00  0.30  0.00 
 1.29 
 3.31 
MSFD  0.94  0.17  0.08 (0.25) 0.82 
 2.56 
 5.00 
UGE  1.07 (0.05) 0.00 (0.09) 0.00 
 2.69 
 7.87 
HAUS  0.57  0.00 (0.05) 0.05  0.75 
 1.41 
 3.22 
SHRT  0.54  0.04 (0.07)(0.02) 0.59 
 0.96 
 3.77 
EQRR  0.66  0.00 (0.01) 0.05  0.92 
 1.29 
 3.75