ProShares UltraShort Correlations

SDP Etf

USD 10.03 0.15 1.47%

The current 90-days correlation between ProShares UltraShort and Harbor ETF Trust is 0.15 (i.e., Average 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraShort Correlation With Market

Good diversification

The correlation between ProShares UltraShort Utilities and DJI is -0.07 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Utilities 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 Utilities. 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 against ProShares Etf

0.67	MLPR	ETRACS Quarterly Pay	Pair Corr
0.61	DIG	ProShares Ultra Oil	Pair Corr
0.54	PSQ	ProShares Short QQQ	Pair Corr
0.48	QID	ProShares UltraShort QQQ	Pair Corr
0.48	TAIL	Cambria Tail Risk	Pair Corr
0.38	DGP	DB Gold Double	Pair Corr
0.35	UGL	ProShares Ultra Gold	Pair Corr
0.32	SPDN	Direxion Daily SP	Pair Corr
0.31	NUGT	Direxion Daily Gold	Pair Corr
0.72	ERET	iShares Environmentally	Pair Corr
0.59	VDC	Vanguard Consumer Staples	Pair Corr
0.53	TAXT	Northern Trust Tax	Pair Corr
0.52	PID	Invesco International	Pair Corr
0.51	DUSL	Direxion Daily Indus	Pair Corr
0.51	RHRX	Starboard Investment	Pair Corr
0.49	VYMI	Vanguard International	Pair Corr
0.45	MEXX	Direxion Daily MSCI	Pair Corr
0.43	DISV	Dimensional ETF Trust	Pair Corr
0.42	STXV	EA Series Trust	Pair Corr
0.35	DFE	WisdomTree Europe	Pair Corr
0.31	AHYB	American Century ETF	Pair Corr
0.8	LQIG	SPDR MarketAxess Inv	Pair Corr
0.72	IGEB	iShares Edge Investment	Pair Corr
0.54	DXJ	WisdomTree Japan Hedged	Pair Corr
0.49	LALT	Invesco Multi Strategy	Pair Corr

Related Correlations Analysis

	REW	EEV	MYY	QQDN	SMDD	YXI	UBR	SPMV	SCC	EPSB
REW		-0.03	0.13	0.44	0.14	0.39	0.17	-0.08	0.69	0.07	REW
EEV	-0.03		0.9	-0.71	0.9	0.16	-0.92	-0.73	0.02	-0.97	EEV
MYY	0.13	0.9		-0.67	1.0	0.08	-0.81	-0.71	0.25	-0.95	MYY
QQDN	0.44	-0.71	-0.67		-0.66	0.36	0.71	0.61	0.27	0.77	QQDN
SMDD	0.14	0.9	1.0	-0.66		0.09	-0.8	-0.72	0.27	-0.95	SMDD
YXI	0.39	0.16	0.08	0.36	0.09		-0.01	-0.14	0.37	-0.06	YXI
UBR	0.17	-0.92	-0.81	0.71	-0.8	-0.01		0.5	0.16	0.88	UBR
SPMV	-0.08	-0.73	-0.71	0.61	-0.72	-0.14	0.5		-0.26	0.75	SPMV
SCC	0.69	0.02	0.25	0.27	0.27	0.37	0.16	-0.26		-0.09	SCC
EPSB	0.07	-0.97	-0.95	0.77	-0.95	-0.06	0.88	0.75	-0.09		EPSB
	REW	EEV	MYY	QQDN	SMDD	YXI	UBR	SPMV	SCC	EPSB

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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	MYY
MYY	+ 0.9	EEV
SMDD	+ 0.9	EEV
EPSB	+ 0.88	UBR
EPSB	+ 0.77	QQDN
EPSB	+ 0.75	SPMV

High negative correlations

EPSB	- 0.97	EEV
EPSB	- 0.95	SMDD
EPSB	- 0.95	MYY
UBR	- 0.92	EEV
UBR	- 0.81	MYY
UBR	- 0.8	SMDD

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
REW	2.07	(0.10)	0.00	(0.12)	0.00	0.00	5.34	(4.00)	14.12
EEV	1.46	(0.38)	0.00	0.40	0.00	0.00	2.21	(3.92)	9.66
MYY	0.71	(0.19)	0.00	(4.80)	0.00	0.00	1.39	(1.79)	4.87
QQDN	1.78	0.28	0.01	(0.09)	1.93	(2.09)	4.47	(2.80)	10.47
SMDD	2.11	(0.58)	0.00	(4.66)	0.00	0.00	4.12	(5.55)	14.17
YXI	0.87	0.10	(0.06)	(0.05)	1.25	(0.91)	1.65	(1.58)	5.78
UBR	2.44	0.57	0.16	0.56	3.37	(2.66)	5.34	(5.88)	17.95
SPMV	0.20	0.04	(0.15)	(0.21)	0.19	(0.51)	0.79	(0.55)	1.91
SCC	1.60	(0.15)	0.00	(0.38)	0.00	0.00	3.24	(3.35)	9.07
EPSB	0.76	0.20	0.32	0.32	0.00	(0.98)	2.49	(0.92)	4.41

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