ProShares UltraShort Correlations

REW Etf

USD 11.41 0.08 0.70%

The current 90-days correlation between ProShares UltraShort and AdvisorShares Restaurant ETF is -0.29 (i.e., Very good diversification). The correlation of ProShares UltraShort 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 UltraShort Correlation With Market

Very good diversification

The correlation between ProShares UltraShort Technolog and DJI is -0.34 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Technolog 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 Technology. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with ProShares Etf

0.94	PSQ	ProShares Short QQQ	Pair Corr
0.76	SPXU	ProShares UltraPro Short	Pair Corr
0.78	SDS	ProShares UltraShort Potential Growth	Pair Corr
0.76	SPXS	Direxion Daily SP	Pair Corr
0.95	QID	ProShares UltraShort QQQ	Pair Corr
0.83	SPDN	Direxion Daily SP	Pair Corr
0.67	TAIL	Cambria Tail Risk	Pair Corr

Moving against ProShares Etf

0.79	VUG	Vanguard Growth Index	Pair Corr
0.7	SPY	SPDR SP 500	Pair Corr
0.7	IVV	iShares Core SP	Pair Corr
0.68	TOT	Advisor Managed Port	Pair Corr
0.67	VTI	Vanguard Total Stock	Pair Corr
0.47	SIXJ	AIM ETF Products	Pair Corr
0.38	VO	Vanguard Mid Cap	Pair Corr
0.38	TLCI	Touchstone ETF Trust	Pair Corr
0.38	DBA	Invesco DB Agriculture	Pair Corr
0.54	PSFD	Pacer Swan SOS	Pair Corr
0.46	JANW	AIM ETF Products	Pair Corr
0.46	GOOX	Etf Opportunities Trust	Pair Corr
0.38	XYLD	Global X SP	Pair Corr

Related Correlations Analysis

	SDP	QQDN	MYY	EEV	YXI	SMDD	UBR	SCC	CRED	EATZ
SDP		-0.51	0.38	0.15	-0.13	-0.13	-0.31	-0.79	-0.55	0.36	SDP
QQDN	-0.51		-0.77	-0.55	0.18	-0.32	0.57	0.38	0.69	0.13	QQDN
MYY	0.38	-0.77		0.67	0.17	0.41	-0.6	-0.26	-0.63	-0.27	MYY
EEV	0.15	-0.55	0.67		0.32	0.88	-0.91	0.19	-0.79	-0.73	EEV
YXI	-0.13	0.18	0.17	0.32		0.18	-0.15	0.28	0.04	-0.26	YXI
SMDD	-0.13	-0.32	0.41	0.88	0.18		-0.75	0.47	-0.7	-0.92	SMDD
UBR	-0.31	0.57	-0.6	-0.91	-0.15	-0.75		0.01	0.79	0.55	UBR
SCC	-0.79	0.38	-0.26	0.19	0.28	0.47	0.01		0.2	-0.66	SCC
CRED	-0.55	0.69	-0.63	-0.79	0.04	-0.7	0.79	0.2		0.48	CRED
EATZ	0.36	0.13	-0.27	-0.73	-0.26	-0.92	0.55	-0.66	0.48		EATZ
	SDP	QQDN	MYY	EEV	YXI	SMDD	UBR	SCC	CRED	EATZ

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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

SMDD	+ 0.88	EEV
CRED	+ 0.79	UBR
CRED	+ 0.69	QQDN
EEV	+ 0.67	MYY
UBR	+ 0.57	QQDN
EATZ	+ 0.55	UBR

High negative correlations

EATZ	- 0.92	SMDD
UBR	- 0.91	EEV
CRED	- 0.79	EEV
SCC	- 0.79	SDP
MYY	- 0.77	QQDN
UBR	- 0.75	SMDD

ProShares UltraShort Constituents 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
SDP	1.48	(0.15)	0.00	(0.45)	0.00	0.00	3.20	(2.75)	10.31
QQDN	1.63	0.23	0.10	2.00	1.37	(2.01)	4.14	(2.61)	10.47
MYY	0.64	(0.20)	0.00	(0.74)	0.00	0.00	1.04	(1.78)	4.62
EEV	1.44	(0.31)	0.00	0.31	0.00	0.00	2.52	(3.92)	9.66
YXI	0.87	0.09	(0.02)	(0.06)	1.24	(0.90)	1.64	(1.58)	5.78
SMDD	2.08	(0.30)	0.00	0.17	0.00	0.00	4.12	(5.55)	14.67
UBR	2.46	0.52	0.15	0.47	3.37	(2.69)	5.34	(5.88)	17.95
SCC	1.56	0.09	0.00	0.02	0.00	0.00	3.24	(3.35)	9.07
CRED	0.63	0.07	0.03	0.26	0.68	(0.67)	1.46	(1.17)	3.30
EATZ	0.92	0.07	0.07	0.14	0.79	(1.09)	1.91	(1.58)	6.12

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