ProShares UltraShort Correlations

REW Etf

USD 10.69 0.31 2.82%

The current 90-days correlation between ProShares UltraShort and AdvisorShares Restaurant ETF is -0.2 (i.e., 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 -0.46 (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 real.

Moving together with ProShares Etf

0.85	SH	ProShares Short SP500	Pair Corr
0.96	PSQ	ProShares Short QQQ	Pair Corr
0.77	SPXU	ProShares UltraPro Short	Pair Corr
0.79	SDS	ProShares UltraShort	Pair Corr
0.77	SPXS	Direxion Daily SP	Pair Corr
0.95	QID	ProShares UltraShort QQQ	Pair Corr
0.85	SPDN	Direxion Daily SP	Pair Corr

Moving against ProShares Etf

0.83	UPRO	ProShares UltraPro SP500	Pair Corr
0.74	QTOC	Innovator ETFs Trust	Pair Corr
0.56	XTOC	Innovator ETFs Trust	Pair Corr
0.39	QTJA	Innovator ETFs Trust	Pair Corr
0.37	QTAP	Innovator Growth 100	Pair Corr
0.34	RCGE	RockCreek Global Equality	Pair Corr
0.31	XTAP	Innovator Equity Acc	Pair Corr
0.54	HD	Home Depot	Pair Corr
0.42	IBM	International Business Tech Boost	Pair Corr
0.36	INTC	Intel Aggressive Push	Pair Corr
0.36	MSFT	Microsoft	Pair Corr

Related Correlations Analysis

	SDP	QQDN	MYY	EEV	YXI	SMDD	UBR	SCC	CRED	EATZ
SDP		0.46	-0.61	-0.29	0.44	-0.64	0.29	-0.51	-0.33	0.58	SDP
QQDN	0.46		-0.33	-0.3	0.28	-0.33	0.38	-0.05	0.19	0.34	QQDN
MYY	-0.61	-0.33		0.78	0.14	1.0	-0.62	0.83	-0.38	-0.95	MYY
EEV	-0.29	-0.3	0.78		0.54	0.77	-0.78	0.58	-0.58	-0.68	EEV
YXI	0.44	0.28	0.14	0.54		0.11	-0.25	0.13	-0.56	-0.08	YXI
SMDD	-0.64	-0.33	1.0	0.77	0.11		-0.62	0.83	-0.35	-0.95	SMDD
UBR	0.29	0.38	-0.62	-0.78	-0.25	-0.62		-0.33	0.38	0.49	UBR
SCC	-0.51	-0.05	0.83	0.58	0.13	0.83	-0.33		-0.26	-0.81	SCC
CRED	-0.33	0.19	-0.38	-0.58	-0.56	-0.35	0.38	-0.26		0.33	CRED
EATZ	0.58	0.34	-0.95	-0.68	-0.08	-0.95	0.49	-0.81	0.33		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	+ 1.0	MYY
SCC	+ 0.83	MYY
SCC	+ 0.83	SMDD
EEV	+ 0.78	MYY
SMDD	+ 0.77	EEV
EATZ	+ 0.58	SDP

High negative correlations

EATZ	- 0.95	SMDD
EATZ	- 0.95	MYY
EATZ	- 0.81	SCC
UBR	- 0.78	EEV
EATZ	- 0.68	EEV
SMDD	- 0.64	SDP

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	1.28	0.20	0.10	(0.24)	1.29	(1.42)	3.09	(2.40)	7.65
QQDN	1.75	0.17	0.04	(0.08)	2.02	(2.04)	4.14	(2.80)	11.48
MYY	0.72	(0.01)	0.00	0.05	0.00	0.00	1.39	(1.78)	4.24
EEV	1.37	(0.16)	0.00	0.16	0.00	0.00	2.52	(3.44)	9.32
YXI	0.87	0.07	0.01	(0.06)	1.16	(0.92)	1.65	(1.58)	6.11
SMDD	2.12	(0.04)	0.00	0.05	0.00	0.00	4.12	(5.52)	13.04
UBR	2.23	0.60	0.18	0.44	3.17	(2.48)	5.48	(4.07)	17.95
SCC	1.78	0.07	(0.02)	0.00	2.19	(1.90)	4.52	(3.81)	9.77
CRED	0.63	(0.05)	0.00	(0.07)	0.00	0.00	1.21	(1.56)	3.26
EATZ	0.95	(0.05)	0.00	(0.01)	0.00	0.00	1.85	(1.81)	6.00

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