ProShares UltraShort Correlations

SDD Etf

USD 11.01 0.02 0.18%

The current 90-days correlation between ProShares UltraShort and Defiance Leveraged Long is 0.06 (i.e., Significant diversification). The correlation of ProShares UltraShort is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

ProShares UltraShort Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraShort SmallCap6 and DJI is -0.91 (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 UltraShort SmallCap6 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 SmallCap600. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with ProShares Etf

0.68	SH	ProShares Short SP500	Pair Corr
0.77	SPXU	ProShares UltraPro Short	Pair Corr
0.63	SDS	ProShares UltraShort	Pair Corr
0.77	SPXS	Direxion Daily SP	Pair Corr
0.97	RWM	ProShares Short Russ	Pair Corr
0.66	SPDN	Direxion Daily SP	Pair Corr
0.88	TAIL	Cambria Tail Risk	Pair Corr
0.9	DOG	ProShares Short Dow30	Pair Corr
0.61	MSFT	Microsoft Earnings Call Tomorrow	Pair Corr

Moving against ProShares Etf

0.98	VB	Vanguard Small Cap	Pair Corr
0.95	IWD	iShares Russell 1000	Pair Corr
0.94	VTV	Vanguard Value Index	Pair Corr
0.94	VO	Vanguard Mid Cap	Pair Corr
0.91	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.87	VTI	Vanguard Total Stock	Pair Corr
0.82	SPY	SPDR SP 500	Pair Corr
0.82	IVV	iShares Core SP	Pair Corr
0.59	VWO	Vanguard FTSE Emerging	Pair Corr
0.55	BND	Vanguard Total Bond	Pair Corr
0.91	LITL	Simplify Exchange Traded	Pair Corr
0.87	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.86	AA	Alcoa Corp Downward Rally	Pair Corr
0.82	BA	Boeing Earnings Call Today	Pair Corr
0.74	JNJ	Johnson Johnson	Pair Corr
0.73	INTC	Intel Earnings Call Tomorrow	Pair Corr
0.69	DD	Dupont De Nemours	Pair Corr
0.6	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.52	DIS	Walt Disney	Pair Corr
0.48	MCD	McDonalds	Pair Corr
0.42	BAC	Bank of America	Pair Corr
0.36	JPM	JPMorgan Chase	Pair Corr
0.33	GE	GE Aerospace	Pair Corr
0.31	HD	Home Depot	Pair Corr

Related Correlations Analysis

	SIJ	CTEX	MZZ	SMDD	TINT	RXD	ZSB	CZAR	SCC	HOOI
SIJ		-0.77	0.94	0.93	-0.91	0.43	-0.9	-0.65	0.77	0.38	SIJ
CTEX	-0.77		-0.72	-0.71	0.75	-0.12	0.63	0.5	-0.71	-0.09	CTEX
MZZ	0.94	-0.72		1.0	-0.9	0.59	-0.87	-0.72	0.83	0.46	MZZ
SMDD	0.93	-0.71	1.0		-0.9	0.6	-0.87	-0.72	0.83	0.46	SMDD
TINT	-0.91	0.75	-0.9	-0.9		-0.39	0.85	0.77	-0.72	-0.3	TINT
RXD	0.43	-0.12	0.59	0.6	-0.39		-0.65	-0.21	0.26	0.87	RXD
ZSB	-0.9	0.63	-0.87	-0.87	0.85	-0.65		0.54	-0.62	-0.64	ZSB
CZAR	-0.65	0.5	-0.72	-0.72	0.77	-0.21	0.54		-0.74	-0.04	CZAR
SCC	0.77	-0.71	0.83	0.83	-0.72	0.26	-0.62	-0.74		0.1	SCC
HOOI	0.38	-0.09	0.46	0.46	-0.3	0.87	-0.64	-0.04	0.1		HOOI
	SIJ	CTEX	MZZ	SMDD	TINT	RXD	ZSB	CZAR	SCC	HOOI

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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

SMDD	+ 1.0	MZZ
MZZ	+ 0.94	SIJ
SMDD	+ 0.93	SIJ
HOOI	+ 0.87	RXD
ZSB	+ 0.85	TINT
SCC	+ 0.83	MZZ

High negative correlations

TINT	- 0.91	SIJ
TINT	- 0.9	SMDD
TINT	- 0.9	MZZ
ZSB	- 0.9	SIJ
ZSB	- 0.87	SMDD
ZSB	- 0.87	MZZ

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
SIJ	1.53	(0.18)	0.00	6.98	0.00	0.00	3.40	(3.18)	8.44
CTEX	2.30	0.07	0.05	0.11	3.02	(2.22)	4.83	(5.05)	14.00
MZZ	1.48	(0.15)	0.00	0.37	0.00	0.00	2.84	(3.45)	8.66
SMDD	2.21	(0.22)	0.00	0.36	0.00	0.00	4.12	(5.52)	13.04
TINT	0.84	0.03	0.04	0.10	0.86	(0.92)	2.12	(1.63)	4.23
RXD	1.30	(0.23)	0.00	1.28	0.00	0.00	1.98	(4.07)	7.03
ZSB	1.11	0.45	0.31	2.76	0.80	(1.36)	2.85	(1.84)	8.00
CZAR	0.59	(0.05)	(0.09)	0.00	0.73	(0.66)	0.88	(1.33)	3.94
SCC	1.84	(0.09)	0.00	0.50	0.00	0.00	4.52	(3.81)	9.77
HOOI	5.59	(0.83)	0.00	(0.40)	0.00	0.00	11.91	(15.80)	33.65

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