ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short Financials
SEF Etf  USD 33.90  0.27  0.79%   
The current 90-days correlation between ProShares Short Fina and ProShares Short MSCI is 0.13 (i.e., Average 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 -0.26 (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.
  
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 income.

Moving together with ProShares Etf

  0.82SH ProShares Short SP500PairCorr
  0.84SPXU ProShares UltraPro ShortPairCorr
  0.83SDS ProShares UltraShortPairCorr
  0.84SPXS Direxion Daily SPPairCorr
  0.85RWM ProShares Short RussPairCorr
  0.81SPDN Direxion Daily SPPairCorr
  0.83DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.73BUFF Innovator LadderedPairCorr
  0.68CETH 21shares Core Ethereum Downward RallyPairCorr
  0.61AIQ Global X ArtificialPairCorr
  0.51MPAY Akros Monthly PayoutPairCorr
  0.47DUKH Ocean Park HighPairCorr
  0.91BAC Bank of AmericaPairCorr
  0.83JPM JPMorgan ChasePairCorr
  0.73DIS Walt DisneyPairCorr
  0.71AXP American Express Earnings Call This WeekPairCorr
  0.68CSCO Cisco Systems Aggressive PushPairCorr
  0.64HD Home DepotPairCorr
  0.54TRV The Travelers Companies Sell-off TrendPairCorr
  0.46PG Procter GamblePairCorr

Related Correlations Analysis

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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   
MYY
+ 0.98
SBB
EFZ
+ 0.94
EUM
REW
+ 0.55
SBB
REW
+ 0.49
MYY
MYY
+ 0.22
EFZ
SBB
+ 0.16
EFZ
  
High negative correlations   
REW
- 0.15
EUM
REW
- 0.11
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.

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