ProShares Short Correlations

SEF Etf

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The current 90-days correlation between ProShares Short Fina and ProShares Short Real is 0.41 (i.e., Very weak diversification). The correlation of ProShares Short 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 Short Correlation With Market

Very good diversification

The correlation between ProShares Short Financials and DJI is -0.44 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short Financials 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 Short Financials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in discontinued.

Moving together with ProShares Etf

0.61	SH	ProShares Short SP500 Sell-off Trend	Pair Corr
0.62	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.61	TAIL	Cambria Tail Risk Low Volatility	Pair Corr
0.7	XLU	Utilities Select Sector Aggressive Push	Pair Corr

Moving against ProShares Etf

0.57	VUG	Vanguard Growth Index	Pair Corr
0.56	SPY	SPDR SP 500	Pair Corr
0.55	IVV	iShares Core SP	Pair Corr
0.55	TOT	Advisor Managed Port	Pair Corr
0.54	VTI	Vanguard Total Stock	Pair Corr
0.47	SIXJ	AIM ETF Products	Pair Corr
0.39	VO	Vanguard Mid Cap	Pair Corr
0.34	TLCI	Touchstone ETF Trust	Pair Corr
0.33	DBA	Invesco DB Agriculture	Pair Corr
0.49	PSFD	Pacer Swan SOS	Pair Corr
0.46	JANW	AIM ETF Products	Pair Corr
0.43	XYLD	Global X SP	Pair Corr
0.41	FHLC	Fidelity MSCI Health	Pair Corr

Related Correlations Analysis

	SKF	UGE	EUM	EFZ	QQXL	SETH	TSMG	EZJ	CEFD	REK
SKF		0.15	0.03	0.01	-0.47	0.32	-0.07	0.01	-0.27	-0.36	SKF
UGE	0.15		-0.84	-0.85	-0.33	0.77	0.85	0.92	0.77	-0.76	UGE
EUM	0.03	-0.84		0.89	-0.07	-0.44	-0.95	-0.9	-0.92	0.64	EUM
EFZ	0.01	-0.85	0.89		0.12	-0.57	-0.84	-0.85	-0.81	0.67	EFZ
QQXL	-0.47	-0.33	-0.07	0.12		-0.64	0.01	-0.16	0.28	0.28	QQXL
SETH	0.32	0.77	-0.44	-0.57	-0.64		0.46	0.64	0.31	-0.55	SETH
TSMG	-0.07	0.85	-0.95	-0.84	0.01	0.46		0.94	0.91	-0.69	TSMG
EZJ	0.01	0.92	-0.9	-0.85	-0.16	0.64	0.94		0.86	-0.78	EZJ
CEFD	-0.27	0.77	-0.92	-0.81	0.28	0.31	0.91	0.86		-0.6	CEFD
REK	-0.36	-0.76	0.64	0.67	0.28	-0.55	-0.69	-0.78	-0.6		REK
	SKF	UGE	EUM	EFZ	QQXL	SETH	TSMG	EZJ	CEFD	REK

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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

EZJ	+ 0.94	TSMG
EZJ	+ 0.92	UGE
CEFD	+ 0.91	TSMG
EFZ	+ 0.89	EUM
CEFD	+ 0.86	EZJ
TSMG	+ 0.85	UGE

High negative correlations

TSMG	- 0.95	EUM
CEFD	- 0.92	EUM
EZJ	- 0.9	EUM
EZJ	- 0.85	EFZ
EFZ	- 0.85	UGE
TSMG	- 0.84	EFZ

ProShares Short Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Short 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 Short'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
SKF	1.51	0.21	0.01	(0.04)	1.68	(1.65)	3.77	(2.53)	8.30
UGE	1.26	0.45	0.38	1.39	0.61	(1.57)	2.97	(1.66)	6.54
EUM	0.72	(0.12)	0.00	0.25	0.00	0.00	1.41	(1.77)	4.74
EFZ	0.68	(0.09)	0.00	1.72	0.00	0.00	1.39	(1.67)	3.93
QQXL	1.66	(0.28)	0.00	(0.12)	0.00	0.00	2.67	(4.94)	10.73
SETH	3.56	0.84	0.14	(0.43)	4.14	(3.69)	8.73	(7.64)	24.45
TSMG	3.27	0.51	0.16	0.28	3.49	(3.73)	7.06	(5.78)	19.96
EZJ	1.69	0.33	0.18	0.24	1.66	(1.85)	4.28	(3.28)	9.28
CEFD	0.48	0.02	(0.01)	0.10	0.49	(0.55)	1.09	(0.83)	3.09
REK	0.60	(0.05)	0.00	0.17	0.00	0.00	1.31	(1.33)	3.72

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