ProShares Short Correlations

RWM Etf

USD 15.35 0.08 0.52%

The current 90-days correlation between ProShares Short Russ and Roundhill ETF Trust is -0.19 (i.e., Good 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 -0.9 (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 private.

Moving together with ProShares Etf

0.73	SH	ProShares Short SP500	Pair Corr
0.8	SPXU	ProShares UltraPro Short	Pair Corr
0.79	SDS	ProShares UltraShort	Pair Corr
0.8	SPXS	Direxion Daily SP	Pair Corr
0.71	SPDN	Direxion Daily SP	Pair Corr
0.88	TAIL	Cambria Tail Risk	Pair Corr
0.89	DOG	ProShares Short Dow30 Sell-off Trend	Pair Corr
0.76	MPAY	Exchange Traded Concepts	Pair Corr

Moving against ProShares Etf

0.93	ITDD	iShares Trust	Pair Corr
0.9	CPST	Calamos ETF Trust	Pair Corr
0.41	ELON	Battleshares TSLA	Pair Corr
0.41	MCD	McDonalds	Pair Corr
0.82	CAT	Caterpillar	Pair Corr
0.82	WMT	Walmart Common Stock	Pair Corr
0.82	AA	Alcoa Corp	Pair Corr
0.77	INTC	Intel	Pair Corr
0.72	XOM	Exxon Mobil Corp Earnings Call Today	Pair Corr
0.66	JNJ	Johnson Johnson	Pair Corr
0.66	CVX	Chevron Corp Earnings Call Today	Pair Corr
0.63	DD	Dupont De Nemours Sell-off Trend	Pair Corr
0.61	MRK	Merck Company Earnings Call This Week	Pair Corr
0.49	HD	Home Depot	Pair Corr

Related Correlations Analysis

	DOG	BRZU	OPER	FNGG	EDC	ECNS	DUST	EMXF	QQQU	WPAY
DOG		-0.5	-0.74	0.49	-0.66	-0.2	0.76	-0.73	-0.34	0.32	DOG
BRZU	-0.5		0.67	-0.57	0.77	0.47	-0.74	0.78	-0.11	-0.52	BRZU
OPER	-0.74	0.67		-0.87	0.59	-0.02	-0.96	0.68	-0.15	-0.83	OPER
FNGG	0.49	-0.57	-0.87		-0.51	0.04	0.82	-0.58	0.5	0.9	FNGG
EDC	-0.66	0.77	0.59	-0.51		0.72	-0.62	0.99	0.04	-0.28	EDC
ECNS	-0.2	0.47	-0.02	0.04	0.72		-0.05	0.63	0.06	0.28	ECNS
DUST	0.76	-0.74	-0.96	0.82	-0.62	-0.05		-0.7	0.11	0.79	DUST
EMXF	-0.73	0.78	0.68	-0.58	0.99	0.63	-0.7		0.07	-0.37	EMXF
QQQU	-0.34	-0.11	-0.15	0.5	0.04	0.06	0.11	0.07		0.51	QQQU
WPAY	0.32	-0.52	-0.83	0.9	-0.28	0.28	0.79	-0.37	0.51		WPAY
	DOG	BRZU	OPER	FNGG	EDC	ECNS	DUST	EMXF	QQQU	WPAY

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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

EMXF	+ 0.99	EDC
WPAY	+ 0.9	FNGG
DUST	+ 0.82	FNGG
WPAY	+ 0.79	DUST
EMXF	+ 0.78	BRZU
EDC	+ 0.77	BRZU

High negative correlations

DUST	- 0.96	OPER
FNGG	- 0.87	OPER
WPAY	- 0.83	OPER
DUST	- 0.74	BRZU
OPER	- 0.74	DOG
EMXF	- 0.73	DOG

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	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
DOG	0.59	0.00	0.00	0.05	0.00	0.00	1.16	(1.18)	3.04
BRZU	2.14	0.71	0.21	0.56	2.95	(2.42)	5.59	(3.83)	18.49
OPER	0.02	0.00	(0.41)	0.79	0.00	(0.02)	0.04	(0.01)	0.07
FNGG	1.77	(0.29)	0.00	(0.16)	0.00	0.00	2.90	(4.43)	12.98
EDC	1.98	0.46	0.20	0.73	1.91	(2.42)	4.83	(3.56)	11.03
ECNS	0.72	0.02	(0.02)	0.11	0.95	(0.70)	1.89	(1.81)	4.17
DUST	3.70	(1.14)	0.00	0.66	0.00	0.00	8.33	(9.42)	23.14
EMXF	0.58	0.14	0.13	0.86	0.54	(0.61)	1.38	(1.19)	2.92
QQQU	1.85	(0.02)	0.01	0.04	2.72	(1.73)	3.96	(4.51)	12.54
WPAY	1.29	(0.31)	0.00	(0.19)	0.00	0.00	2.31	(3.81)	8.11

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