ProShares UltraShort Correlations

SCO Etf

USD 16.17 0.13 0.81%

The current 90-days correlation between ProShares UltraShort and Innovator Etfs Trust is -0.12 (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

Very good diversification

The correlation between ProShares UltraShort Bloomberg and DJI is -0.5 (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 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 services.

Moving together with ProShares Etf

0.75	GLL	ProShares UltraShort Gold	Pair Corr
0.78	WTID	UBS ETRACS	Pair Corr
0.74	DULL	MicroSectors Gold	Pair Corr
0.79	PLTI	REX ETF Trust	Pair Corr

Moving against ProShares Etf

0.73	SCZ	iShares MSCI EAFE	Pair Corr
0.6	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.53	ULE	ProShares Ultra Euro	Pair Corr
0.5	SIXD	AIM ETF Products	Pair Corr
0.35	DGZ	DB Gold Short	Pair Corr
0.34	FXY	Invesco CurrencyShares	Pair Corr
0.8	PMIO	PGIM ETF Trust	Pair Corr
0.79	EWT	iShares MSCI Taiwan	Pair Corr
0.76	FNDC	Schwab Fundamental	Pair Corr
0.75	IAUM	iShares Gold Trust	Pair Corr
0.71	BSMS	Invesco BulletShares 2028	Pair Corr
0.68	WEBS	Direxion Daily Dow	Pair Corr
0.59	SIL	Global X Silver	Pair Corr
0.59	SPVM	Invesco SP 500	Pair Corr
0.54	TOCT	Innovator Equity Defined	Pair Corr
0.54	XTWO	Bondbloxx ETF Trust	Pair Corr
0.53	WLTG	ETF Opportunities Trust	Pair Corr
0.51	PFFA	Virtus InfraCap Preferred	Pair Corr
0.5	PMAY	Innovator SP 500	Pair Corr
0.45	JANW	AIM ETF Products	Pair Corr
0.38	LITP	Sprott Lithium Miners	Pair Corr
0.38	VTHR	Vanguard Russell 3000	Pair Corr
0.91	EIPI	First Trust Exchange	Pair Corr
0.9	LSEQ	Harbor ETF Trust	Pair Corr
0.84	EMES	Harbor ETF Trust	Pair Corr
0.79	PSCC	Invesco SP SmallCap	Pair Corr
0.79	QLV	FlexShares Quality Low	Pair Corr
0.75	FIDU	Fidelity MSCI Industrials	Pair Corr

Related Correlations Analysis

	KOLD	UUP	CHAU	SVIX	XES	TMV	RDTE	GCC	UDN	TJUL
KOLD		0.48	0.11	0.38	-0.44	0.08	-0.13	-0.14	-0.41	0.07	KOLD
UUP	0.48		-0.41	-0.37	-0.58	-0.36	-0.54	-0.58	-0.94	-0.54	UUP
CHAU	0.11	-0.41		0.76	0.73	0.52	0.81	0.87	0.63	0.87	CHAU
SVIX	0.38	-0.37	0.76		0.4	0.67	0.73	0.67	0.54	0.87	SVIX
XES	-0.44	-0.58	0.73	0.4		0.37	0.84	0.77	0.78	0.72	XES
TMV	0.08	-0.36	0.52	0.67	0.37		0.55	0.55	0.51	0.56	TMV
RDTE	-0.13	-0.54	0.81	0.73	0.84	0.55		0.87	0.75	0.89	RDTE
GCC	-0.14	-0.58	0.87	0.67	0.77	0.55	0.87		0.77	0.85	GCC
UDN	-0.41	-0.94	0.63	0.54	0.78	0.51	0.75	0.77		0.74	UDN
TJUL	0.07	-0.54	0.87	0.87	0.72	0.56	0.89	0.85	0.74		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	+ 0.89	RDTE
GCC	+ 0.87	CHAU
TJUL	+ 0.87	CHAU
TJUL	+ 0.87	SVIX
GCC	+ 0.87	RDTE
TJUL	+ 0.85	GCC

High negative correlations

UDN	- 0.94	UUP
GCC	- 0.58	UUP
XES	- 0.58	UUP
TJUL	- 0.54	UUP
RDTE	- 0.54	UUP
XES	- 0.44	KOLD

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	7.44	(0.08)	0.00	0.03	10.46	(8.03)	13.96	(15.17)	56.47
UUP	0.26	(0.03)	0.00	6.43	0.00	0.00	0.52	(0.80)	1.79
CHAU	1.31	0.03	0.00	0.10	1.52	(1.43)	2.46	(2.38)	5.66
SVIX	2.33	(0.08)	0.01	0.03	3.37	(2.37)	5.52	(6.19)	18.00
XES	1.59	0.39	0.20	0.38	1.61	(1.75)	3.70	(3.31)	9.80
TMV	1.26	0.01	0.00	0.03	0.00	0.00	2.57	(2.26)	8.02
RDTE	0.81	0.01	0.01	0.07	0.98	(0.80)	1.42	(1.70)	5.11
GCC	1.06	0.07	0.02	0.19	1.83	(1.01)	2.09	(2.50)	9.94
UDN	0.27	0.04	(0.06)	6.96	0.18	(0.36)	0.82	(0.49)	2.15
TJUL	0.14	0.00	(0.26)	0.03	0.15	(0.15)	0.27	(0.30)	0.95

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