ProShares Short Correlations

RWM Etf

USD 18.36 0.17 0.93%

The current 90-days correlation between ProShares Short Russ and ProShares Short QQQ is 0.1 (i.e., Average 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

Very good diversification

The correlation between ProShares Short Russell2000 and DJI is -0.35 (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 Russell2000 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 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 housing.

Moving together with ProShares Etf

0.77	SH	ProShares Short SP500	Pair Corr
0.7	SDS	ProShares UltraShort Aggressive Push	Pair Corr
0.64	SPDN	Direxion Daily SP	Pair Corr
0.88	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.92	VB	Vanguard Small Cap	Pair Corr
0.89	VO	Vanguard Mid Cap	Pair Corr
0.82	VTV	Vanguard Value Index	Pair Corr
0.66	VTI	Vanguard Total Stock	Pair Corr
0.64	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.59	SPY	SPDR SP 500	Pair Corr
0.47	IVV	iShares Core SP	Pair Corr
0.42	VEA	Vanguard FTSE Developed	Pair Corr
0.31	VWO	Vanguard FTSE Emerging	Pair Corr
0.8	TRV	The Travelers Companies	Pair Corr
0.74	QQEW	First Trust NASDAQ	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.69	VZ	Verizon Communications	Pair Corr
0.65	PG	Procter Gamble	Pair Corr
0.64	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.6	HPQ	HP Inc	Pair Corr
0.59	INTC	Intel	Pair Corr
0.59	BAC	Bank of America	Pair Corr
0.58	XOM	Exxon Mobil Corp Fiscal Year End 7th of February 2025	Pair Corr
0.51	MCD	McDonalds Earnings Call This Week	Pair Corr
0.35	T	ATT Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	PSQ	DOG	MYY	TWM	SBB
PSQ		0.31	0.36	0.41	0.19	PSQ
DOG	0.31		0.9	0.85	0.9	DOG
MYY	0.36	0.9		0.97	0.91	MYY
TWM	0.41	0.85	0.97		0.91	TWM
SBB	0.19	0.9	0.91	0.91		SBB
	PSQ	DOG	MYY	TWM	SBB

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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 Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
PSQ	0.90	(0.08)	(0.90)	2.46	(1.61)	5.89
DOG	0.61	(0.04)	0.16	0.99	(1.13)	4.55
MYY	0.74	(0.05)	0.56	1.13	(1.61)	5.68
TWM	1.85	(0.09)	0.46	3.41	(3.67)	15.19
SBB	0.87	(0.01)	0.09	1.35	(1.84)	7.74

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