ProShares Short Correlations

SH Etf

USD 36.10 0.18 0.50%

The current 90-days correlation between ProShares Short SP500 and SPDR Series Trust is -0.68 (i.e., Excellent 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

Excellent diversification

The correlation between ProShares Short SP500 and DJI is -0.53 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short SP500 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 SP500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with ProShares Etf

0.77	PSQ	ProShares Short QQQ	Pair Corr
0.97	SPXU	ProShares UltraPro Short	Pair Corr
0.99	SDS	ProShares UltraShort	Pair Corr
0.97	SPXS	Direxion Daily SP	Pair Corr
0.83	QID	ProShares UltraShort QQQ	Pair Corr
0.99	SPDN	Direxion Daily SP	Pair Corr
0.79	TAIL	Cambria Tail Risk	Pair Corr

Moving against ProShares Etf

0.62	USD	ProShares Ultra Semi	Pair Corr
0.35	DFEN	Direxion Daily Aerospace	Pair Corr
0.31	NUGT	Direxion Daily Gold	Pair Corr
0.43	PSMR	Pacer Swan SOS	Pair Corr
0.42	URA	Global X Uranium	Pair Corr
0.42	ETHO	Amplify Etho Climate	Pair Corr
0.35	AHYB	American Century ETF	Pair Corr
0.32	DFE	WisdomTree Europe	Pair Corr
0.83	PDEC	Innovator SP 500	Pair Corr
0.57	RSST	Return Stacked Stocks	Pair Corr
0.52	DIA	SPDR Dow Jones	Pair Corr
0.51	NAPR	Innovator Nasdaq 100	Pair Corr

Related Correlations Analysis

	TYO	BFIX	SUPP	SIMS	QQQS	FIXP	IBAT	SPDG
TYO		0.24	-0.14	0.25	0.4	0.45	-0.01	0.18	TYO
BFIX	0.24		0.83	0.73	0.7	0.87	0.87	0.92	BFIX
SUPP	-0.14	0.83		0.82	0.64	0.65	0.95	0.86	SUPP
SIMS	0.25	0.73	0.82		0.8	0.67	0.83	0.79	SIMS
QQQS	0.4	0.7	0.64	0.8		0.83	0.66	0.63	QQQS
FIXP	0.45	0.87	0.65	0.67	0.83		0.68	0.77	FIXP
IBAT	-0.01	0.87	0.95	0.83	0.66	0.68		0.9	IBAT
SPDG	0.18	0.92	0.86	0.79	0.63	0.77	0.9		SPDG
	TYO	BFIX	SUPP	SIMS	QQQS	FIXP	IBAT	SPDG

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

IBAT	+ 0.95	SUPP
SPDG	+ 0.92	BFIX
SPDG	+ 0.9	IBAT
FIXP	+ 0.87	BFIX
IBAT	+ 0.87	BFIX
SPDG	+ 0.86	SUPP

High negative correlations

SUPP	- 0.14	TYO
IBAT	- 0.01	TYO

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
TYO	0.55	(0.03)	0.00	(0.95)	0.00	0.00	1.17	(1.31)	3.13
BFIX	0.14	0.01	(0.34)	0.18	0.02	(0.16)	0.36	(0.28)	1.11
SUPP	0.82	0.09	0.08	0.17	0.88	(0.93)	1.58	(1.40)	5.52
SIMS	1.08	0.05	0.05	0.12	1.33	(1.12)	2.19	(2.27)	7.62
QQQS	1.12	0.08	0.09	0.14	1.14	(1.29)	2.60	(2.04)	6.77
FIXP	0.11	0.01	(0.36)	0.17	0.00	(0.14)	0.20	(0.15)	0.75
IBAT	1.07	0.28	0.20	0.36	1.04	(1.22)	2.70	(2.22)	6.16
SPDG	0.56	0.10	0.11	0.20	0.50	(0.61)	1.49	(1.24)	3.71

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