ProShares Short Correlations

SEF Etf

USD 31.76 0.42 1.34%

The current 90-days correlation between ProShares Short Fina and ProShares Short Real is 0.54 (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

Pay attention - limited upside

The correlation between ProShares Short Financials and DJI is -0.78 (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 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 american community survey.

Moving together with ProShares Etf

0.63	SH	ProShares Short SP500	Pair Corr
0.69	SPXU	ProShares UltraPro Short	Pair Corr
0.68	SDS	ProShares UltraShort	Pair Corr
0.69	SPXS	Direxion Daily SP	Pair Corr
0.62	SPDN	Direxion Daily SP	Pair Corr
0.78	TAIL	Cambria Tail Risk	Pair Corr
0.79	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.72	VTI	Vanguard Total Stock	Pair Corr
0.72	SPY	SPDR SP 500	Pair Corr
0.72	IVV	iShares Core SP	Pair Corr
0.69	VTV	Vanguard Value Index	Pair Corr
0.69	IWD	iShares Russell 1000	Pair Corr
0.68	VO	Vanguard Mid Cap	Pair Corr
0.64	VEA	Vanguard FTSE Developed Aggressive Push	Pair Corr
0.64	VB	Vanguard Small Cap	Pair Corr
0.36	BND	Vanguard Total Bond	Pair Corr
0.31	VUG	Vanguard Growth Index	Pair Corr
0.91	BAC	Bank of America	Pair Corr
0.87	JPM	JPMorgan Chase	Pair Corr
0.77	LITL	Simplify Exchange Traded	Pair Corr
0.67	AA	Alcoa Corp Downward Rally	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.61	WMT	Walmart Common Stock Sell-off Trend	Pair Corr
0.58	DD	Dupont De Nemours	Pair Corr
0.51	GE	GE Aerospace	Pair Corr
0.48	BA	Boeing Earnings Call Tomorrow	Pair Corr
0.47	MCD	McDonalds	Pair Corr
0.44	JNJ	Johnson Johnson	Pair Corr
0.35	TRV	The Travelers Companies	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.54	0.23	-0.16	0.16	-0.11	0.52	-0.05	-0.24	-0.25	META
MSFT	0.54		0.78	-0.54	0.54	0.28	0.35	-0.22	-0.84	-0.72	MSFT
UBER	0.23	0.78		-0.45	0.46	0.51	0.02	-0.36	-0.8	-0.5	UBER
F	-0.16	-0.54	-0.45		-0.69	-0.12	0.09	0.58	0.67	0.59	F
T	0.16	0.54	0.46	-0.69		0.55	-0.13	-0.4	-0.49	-0.66	T
A	-0.11	0.28	0.51	-0.12	0.55		-0.33	-0.24	-0.26	-0.38	A
CRM	0.52	0.35	0.02	0.09	-0.13	-0.33		0.56	-0.11	-0.36	CRM
JPM	-0.05	-0.22	-0.36	0.58	-0.4	-0.24	0.56		0.45	0.1	JPM
MRK	-0.24	-0.84	-0.8	0.67	-0.49	-0.26	-0.11	0.45		0.73	MRK
XOM	-0.25	-0.72	-0.5	0.59	-0.66	-0.38	-0.36	0.1	0.73		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.78	MSFT
XOM	+ 0.73	MRK
MRK	+ 0.67	F
XOM	+ 0.59	F
JPM	+ 0.58	F
JPM	+ 0.56	CRM

High negative correlations

MRK	- 0.84	MSFT
MRK	- 0.8	UBER
XOM	- 0.72	MSFT
T	- 0.69	F
XOM	- 0.66	T
F	- 0.54	MSFT

ProShares Short Competition 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
META	1.44	(0.19)	0.00	(0.11)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.05	(0.17)	0.00	(0.45)	0.00	0.00	1.78	(2.50)	4.90
UBER	1.45	(0.23)	0.00	(0.24)	0.00	0.00	2.60	(3.82)	10.23
F	1.42	0.03	0.04	0.09	1.38	(1.76)	3.38	(2.35)	16.30
T	0.87	(0.14)	0.00	(17.25)	0.00	0.00	1.53	(1.85)	4.30
A	1.21	(0.11)	0.00	(0.19)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.47	(0.27)	0.00	(0.18)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.12	(0.08)	(0.02)	0.02	1.70	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.27	0.19	0.45	1.11	(1.53)	3.59	(1.98)	8.09
XOM	1.07	0.28	0.18	4.39	0.95	(1.26)	2.38	(1.51)	5.82

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