ProShares UltraShort Correlations

SDP Etf

USD 12.57 0.34 2.63%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Technology is 0.26 (i.e., Modest 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

Very good diversification

The correlation between ProShares UltraShort Utilities and DJI is -0.39 (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 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 american community survey.

Moving together with ProShares Etf

0.81	AGQ	ProShares Ultra Silver	Pair Corr
0.81	BAC	Bank of America Earnings Call This Week	Pair Corr
0.77	CAT	Caterpillar	Pair Corr
0.77	JNJ	Johnson Johnson	Pair Corr
0.76	AXP	American Express	Pair Corr
0.81	MRK	Merck Company Aggressive Push	Pair Corr
0.8	AA	Alcoa Corp	Pair Corr
0.76	XOM	Exxon Mobil Corp	Pair Corr
0.76	WMT	Walmart Common Stock	Pair Corr
0.65	TRV	The Travelers Companies	Pair Corr

Moving against ProShares Etf

0.79	TAIL	Cambria Tail Risk	Pair Corr
0.77	GBTC	Grayscale Bitcoin Trust	Pair Corr
0.75	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.74	DAPP	VanEck Digital Trans	Pair Corr
0.7	DOG	ProShares Short Dow30 Potential Growth	Pair Corr
0.54	FNGO	MicroSectors FANG Index	Pair Corr
0.53	SPXU	ProShares UltraPro Short	Pair Corr
0.53	SPXS	Direxion Daily SP	Pair Corr
0.52	FBL	GraniteShares 15x Long	Pair Corr
0.49	SDS	ProShares UltraShort	Pair Corr
0.48	FNGG	Direxion Daily Select	Pair Corr
0.44	RWM	ProShares Short Russ	Pair Corr
0.4	SH	ProShares Short SP500	Pair Corr
0.38	SPDN	Direxion Daily SP	Pair Corr
0.36	NVDL	GraniteShares 15x Long	Pair Corr
0.32	BULZ	MicroSectors Solactive	Pair Corr
0.82	PG	Procter Gamble	Pair Corr
0.78	T	ATT Inc	Pair Corr
0.73	HPQ	HP Inc	Pair Corr
0.7	HD	Home Depot	Pair Corr

Related Correlations Analysis

	REW	EEV	MYY	QQDN	SMDD	YXI	UBR	SPMV	SCC	EPSB
REW		0.67	0.49	0.73	0.47	0.36	-0.17	-0.46	0.63	-0.39	REW
EEV	0.67		0.58	0.38	0.58	0.41	-0.41	-0.6	0.53	-0.61	EEV
MYY	0.49	0.58		0.18	0.99	-0.1	-0.36	-0.92	0.85	-0.95	MYY
QQDN	0.73	0.38	0.18		0.2	0.2	-0.46	-0.24	0.28	-0.01	QQDN
SMDD	0.47	0.58	0.99	0.2		-0.16	-0.43	-0.93	0.85	-0.95	SMDD
YXI	0.36	0.41	-0.1	0.2	-0.16		0.24	0.15	-0.06	0.15	YXI
UBR	-0.17	-0.41	-0.36	-0.46	-0.43	0.24		0.49	-0.24	0.3	UBR
SPMV	-0.46	-0.6	-0.92	-0.24	-0.93	0.15	0.49		-0.81	0.91	SPMV
SCC	0.63	0.53	0.85	0.28	0.85	-0.06	-0.24	-0.81		-0.81	SCC
EPSB	-0.39	-0.61	-0.95	-0.01	-0.95	0.15	0.3	0.91	-0.81		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	+ 0.99	MYY
EPSB	+ 0.91	SPMV
SCC	+ 0.85	MYY
SCC	+ 0.85	SMDD
QQDN	+ 0.73	REW
EEV	+ 0.67	REW

High negative correlations

EPSB	- 0.95	SMDD
EPSB	- 0.95	MYY
SPMV	- 0.93	SMDD
SPMV	- 0.92	MYY
EPSB	- 0.81	SCC
SCC	- 0.81	SPMV

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	2.02	0.13	0.00	0.03	0.00	0.00	5.24	(4.04)	13.14
EEV	1.48	(0.05)	0.00	0.11	0.00	0.00	2.52	(2.99)	12.95
MYY	0.81	0.01	0.00	0.07	0.00	0.00	1.64	(1.78)	5.20
QQDN	1.87	0.10	0.00	0.03	0.00	0.00	4.14	(4.30)	14.46
SMDD	2.40	0.04	0.00	0.07	0.00	0.00	4.90	(5.55)	15.79
YXI	0.89	0.13	(0.03)	(0.05)	1.14	(0.95)	1.64	(1.58)	9.07
UBR	2.03	0.26	0.09	0.22	3.25	(2.13)	4.21	(4.07)	17.95
SPMV	0.47	(0.02)	(0.08)	0.05	0.55	(0.48)	0.98	(0.90)	2.22
SCC	1.84	0.04	0.00	0.07	0.00	0.00	4.52	(4.01)	10.70
EPSB	0.79	0.03	0.04	0.11	0.85	(0.88)	1.85	(1.39)	3.83

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