ProShares UltraShort Correlations

SCO Etf

USD 17.47 0.19 1.10%

The current 90-days correlation between ProShares UltraShort and Innovator Etfs Trust is -0.16 (i.e., Good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraShort moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraShort Bloomberg moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Significant diversification

The correlation between ProShares UltraShort Bloomberg and DJI is 0.05 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Bloomberg and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort Bloomberg. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving against ProShares Etf

0.55	EU	enCore Energy Corp	Pair Corr
0.4	DZZ	DB Gold Double	Pair Corr
0.39	PG	Procter Gamble	Pair Corr
0.33	DGZ	DB Gold Short	Pair Corr
0.54	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.43	INTC	Intel Earnings Call This Week	Pair Corr

Related Correlations Analysis

	KOLD	UUP	CHAU	SVIX	XES	TMV	RDTE	GCC	UDN	TJUL
KOLD		0.0	0.58	0.57	0.15	0.15	0.36	0.38	0.2	0.54	KOLD
UUP	0.0		-0.06	-0.3	0.14	0.04	-0.22	-0.05	-0.74	-0.23	UUP
CHAU	0.58	-0.06		0.77	0.7	0.44	0.74	0.83	0.45	0.8	CHAU
SVIX	0.57	-0.3	0.77		0.65	0.66	0.78	0.82	0.77	0.95	SVIX
XES	0.15	0.14	0.7	0.65		0.66	0.8	0.86	0.42	0.71	XES
TMV	0.15	0.04	0.44	0.66	0.66		0.42	0.64	0.56	0.54	TMV
RDTE	0.36	-0.22	0.74	0.78	0.8	0.42		0.83	0.6	0.84	RDTE
GCC	0.38	-0.05	0.83	0.82	0.86	0.64	0.83		0.61	0.85	GCC
UDN	0.2	-0.74	0.45	0.77	0.42	0.56	0.6	0.61		0.7	UDN
TJUL	0.54	-0.23	0.8	0.95	0.71	0.54	0.84	0.85	0.7		TJUL
	KOLD	UUP	CHAU	SVIX	XES	TMV	RDTE	GCC	UDN	TJUL

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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

TJUL	+ 0.95	SVIX
GCC	+ 0.86	XES
TJUL	+ 0.85	GCC
TJUL	+ 0.84	RDTE
GCC	+ 0.83	CHAU
GCC	+ 0.83	RDTE

High negative correlations

UDN	- 0.74	UUP
SVIX	- 0.3	UUP
TJUL	- 0.23	UUP
RDTE	- 0.22	UUP
CHAU	- 0.06	UUP
GCC	- 0.05	UUP

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
KOLD	6.23	(0.45)	0.00	(0.12)	0.00	0.00	11.37	(14.71)	55.04
UUP	0.22	0.00	(0.22)	0.00	0.32	(0.21)	0.41	(0.51)	1.43
CHAU	1.34	0.11	0.06	0.23	1.50	(1.47)	2.46	(2.46)	5.41
SVIX	2.20	0.09	0.07	0.10	3.15	(2.26)	5.30	(4.96)	18.00
XES	1.43	0.35	0.18	0.41	1.49	(1.56)	3.70	(3.31)	10.85
TMV	1.24	0.23	0.09	(0.28)	1.11	(1.43)	3.29	(1.70)	6.25
RDTE	0.80	0.00	0.00	0.07	0.97	(0.84)	1.39	(1.58)	4.10
GCC	0.75	0.18	0.14	0.63	0.68	(0.83)	1.64	(1.35)	4.08
UDN	0.22	0.01	(0.20)	1.91	0.18	(0.28)	0.55	(0.33)	1.23
TJUL	0.13	(0.01)	(0.31)	0.02	0.14	(0.13)	0.27	(0.27)	0.95

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