ProShares Short Correlations

SJB Etf

USD 15.24 0.01 0.07%

The current 90-days correlation between ProShares Short High and Proshares Ultrashort Bitcoin is 0.31 (i.e., 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 High and DJI is -0.75 (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 High 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 High. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving against ProShares Etf

0.86	TAPR	Innovator Equity Defined	Pair Corr
0.73	MMSD	New York Life	Pair Corr
0.62	SPVM	Invesco SP 500	Pair Corr
0.58	JNUG	Direxion Daily Junior	Pair Corr
0.57	GDXU	MicroSectors Gold Miners	Pair Corr
0.57	NUGT	Direxion Daily Gold	Pair Corr
0.55	AGQ	ProShares Ultra Silver Trending	Pair Corr
0.42	FBL	GraniteShares 15x Long	Pair Corr
0.38	TMV	Direxion Daily 20	Pair Corr
0.37	TBT	ProShares UltraShort Potential Growth	Pair Corr
0.37	BULZ	MicroSectors Solactive	Pair Corr
0.86	HYUP	Xtrackers High Beta	Pair Corr
0.76	KCE	SPDR SP Capital	Pair Corr
0.74	IWD	iShares Russell 1000	Pair Corr
0.73	LITL	Simplify Exchange Traded	Pair Corr
0.72	JANH	Innovator Equity Premium	Pair Corr
0.7	TSMU	GraniteShares 2x Long	Pair Corr
0.69	DHSB	Strategy Shares	Pair Corr
0.66	GLDX	USCF Gold Strategy	Pair Corr
0.65	MOOD	Relative Sentiment	Pair Corr
0.63	EEMX	SPDR MSCI Emerging	Pair Corr
0.61	IBMQ	iShares Trust	Pair Corr
0.59	EPEM	Harbor ETF Trust	Pair Corr
0.57	GDX	VanEck Gold Miners Aggressive Push	Pair Corr
0.57	SIVR	abrdn Physical Silver	Pair Corr
0.56	SGOL	abrdn Physical Gold	Pair Corr
0.49	LIT	Global X Lithium	Pair Corr
0.43	XOMO	Yieldmax XOM Option	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.54	0.3	-0.12	-0.03	-0.16	0.54	0.02	-0.28	-0.24	META
MSFT	0.54		0.78	-0.54	0.48	0.28	0.33	-0.19	-0.85	-0.7	MSFT
UBER	0.3	0.78		-0.45	0.42	0.48	0.03	-0.32	-0.8	-0.51	UBER
F	-0.12	-0.54	-0.45		-0.6	-0.19	0.09	0.52	0.67	0.59	F
T	-0.03	0.48	0.42	-0.6		0.62	-0.15	-0.28	-0.47	-0.66	T
A	-0.16	0.28	0.48	-0.19	0.62		-0.24	-0.16	-0.3	-0.46	A
CRM	0.54	0.33	0.03	0.09	-0.15	-0.24		0.61	-0.11	-0.38	CRM
JPM	0.02	-0.19	-0.32	0.52	-0.28	-0.16	0.61		0.41	0.02	JPM
MRK	-0.28	-0.85	-0.8	0.67	-0.47	-0.3	-0.11	0.41		0.71	MRK
XOM	-0.24	-0.7	-0.51	0.59	-0.66	-0.46	-0.38	0.02	0.71		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	+ 0.71	MRK
MRK	+ 0.67	F
A	+ 0.62	T
JPM	+ 0.61	CRM
XOM	+ 0.59	F

High negative correlations

MRK	- 0.85	MSFT
MRK	- 0.8	UBER
XOM	- 0.7	MSFT
XOM	- 0.66	T
T	- 0.6	F
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	(0.12)	0.00	(1.43)	0.00	0.00	3.16	(2.67)	13.02
MSFT	1.05	(0.13)	0.00	0.63	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	1.47	0.11	0.09	0.15	1.32	(1.82)	3.65	(2.35)	16.30
T	0.88	(0.17)	0.00	(0.41)	0.00	0.00	1.53	(1.85)	4.30
A	1.19	(0.19)	0.00	(0.08)	0.00	0.00	2.90	(2.58)	7.85
CRM	1.43	(0.23)	0.00	(0.16)	0.00	0.00	2.94	(3.10)	12.37
JPM	1.11	(0.06)	(0.02)	0.03	1.66	(1.09)	2.00	(3.11)	7.38
MRK	1.24	0.28	0.19	0.47	1.13	(1.50)	3.59	(1.98)	8.09
XOM	1.07	0.27	0.17	4.15	0.96	(1.25)	2.38	(1.51)	5.82

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