ProShares Short Correlations

RWM Etf

USD 15.75 0.20 1.25%

The current 90-days correlation between ProShares Short Russ and ProShares Short Dow30 is 0.8 (i.e., Very poor 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 Russell2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Short Correlation With Market

Pay attention - limited upside

The correlation between ProShares Short Russell2000 and DJI is -0.79 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short Russell2000 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 Short Russell2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with ProShares Etf

0.75	SH	ProShares Short SP500	Pair Corr
0.74	SPXU	ProShares UltraPro Short	Pair Corr
0.75	SDS	ProShares UltraShort	Pair Corr
0.74	SPXS	Direxion Daily SP	Pair Corr
0.62	QID	ProShares UltraShort QQQ	Pair Corr
0.74	SPDN	Direxion Daily SP	Pair Corr
0.69	TAIL	Cambria Tail Risk	Pair Corr
0.73	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.74	VO	Vanguard Mid Cap	Pair Corr
0.69	TOT	Advisor Managed Port	Pair Corr
0.54	VTV	Vanguard Value Index	Pair Corr
0.51	VTI	Vanguard Total Stock	Pair Corr
0.44	SPY	SPDR SP 500	Pair Corr
0.44	IVV	iShares Core SP	Pair Corr
0.54	BA	Boeing	Pair Corr
0.45	INTC	Intel Aggressive Push	Pair Corr
0.39	BAC	Bank of America Earnings Call Next Week	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.55	0.42	-0.51	0.32	-0.34	0.29	-0.23	-0.39	-0.52	META
MSFT	0.55		0.84	-0.57	0.4	-0.08	-0.06	-0.5	-0.84	-0.64	MSFT
UBER	0.42	0.84		-0.57	0.5	0.17	-0.24	-0.51	-0.85	-0.66	UBER
F	-0.51	-0.57	-0.57		-0.65	0.23	0.33	0.59	0.64	0.75	F
T	0.32	0.4	0.5	-0.65		0.25	-0.65	-0.59	-0.39	-0.56	T
A	-0.34	-0.08	0.17	0.23	0.25		-0.5	-0.28	-0.03	-0.02	A
CRM	0.29	-0.06	-0.24	0.33	-0.65	-0.5		0.52	0.22	0.3	CRM
JPM	-0.23	-0.5	-0.51	0.59	-0.59	-0.28	0.52		0.64	0.65	JPM
MRK	-0.39	-0.84	-0.85	0.64	-0.39	-0.03	0.22	0.64		0.77	MRK
XOM	-0.52	-0.64	-0.66	0.75	-0.56	-0.02	0.3	0.65	0.77		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

UBER	+ 0.84	MSFT
XOM	+ 0.77	MRK
XOM	+ 0.75	F
XOM	+ 0.65	JPM
MRK	+ 0.64	F
MRK	+ 0.64	JPM

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.84	MSFT
XOM	- 0.66	UBER
CRM	- 0.65	T
T	- 0.65	F
XOM	- 0.64	MSFT

ProShares Short Competition 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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.36	(0.21)	0.00	(0.14)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.91	(0.13)	0.00	1.12	0.00	0.00	1.78	(2.50)	5.08
UBER	1.55	(0.26)	0.00	(0.16)	0.00	0.00	3.34	(3.82)	10.51
F	1.48	0.09	0.07	0.15	1.69	(1.61)	3.38	(2.63)	16.30
T	0.92	(0.16)	0.00	(0.68)	0.00	0.00	1.61	(1.92)	5.75
A	1.15	(0.01)	0.01	0.08	1.30	(1.26)	2.34	(2.22)	6.50
CRM	1.54	0.08	0.03	0.17	1.96	(1.53)	3.66	(2.92)	9.91
JPM	1.08	0.03	0.04	0.11	1.37	(1.14)	2.34	(1.91)	7.02
MRK	1.21	0.24	0.17	0.38	1.10	(1.50)	3.59	(1.98)	8.09
XOM	0.97	0.12	0.04	0.62	1.00	(1.05)	2.10	(1.51)	4.99

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