ProShares Short Correlations

SJB Etf

USD 15.26 0.01 0.07%

The current 90-days correlation between ProShares Short High and Proshares Ultrashort Bitcoin is 0.11 (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

Pay attention - limited upside

The correlation between ProShares Short High and DJI is -0.77 (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

0.87	TOT	Advisor Managed Port	Pair Corr
0.85	VBK	Vanguard Small Cap	Pair Corr
0.79	WLTG	ETF Opportunities Trust	Pair Corr
0.78	GAPR	First Trust Exchange	Pair Corr
0.76	FB	ProShares Trust ProShares	Pair Corr
0.74	TAPR	Innovator Equity Defined	Pair Corr
0.73	CALY	Callaway Golf Symbol Change	Pair Corr
0.73	ESML	iShares ESG Aware	Pair Corr
0.71	GSIB	Themes Global System	Pair Corr
0.71	VIG	Vanguard Dividend	Pair Corr
0.61	SHLD	Global X Defense	Pair Corr
0.57	ACLO	TCW ETF Trust	Pair Corr
0.47	TMV	Direxion Daily 20	Pair Corr
0.47	TBF	ProShares Short 20	Pair Corr
0.47	TYO	Direxion Daily 7	Pair Corr
0.44	PTA	Cohen Steers Tax	Pair Corr
0.4	PMIO	PGIM ETF Trust	Pair Corr
0.36	AGG	iShares Core Aggregate	Pair Corr
0.35	IYR	iShares Real Estate	Pair Corr
0.31	TBT	ProShares UltraShort	Pair Corr
0.88	VTI	Vanguard Total Stock	Pair Corr
0.83	XRT	SPDR SP Retail	Pair Corr
0.8	XBI	SPDR SP Biotech	Pair Corr
0.8	SMLF	iShares MSCI USA	Pair Corr
0.75	ILCV	iShares Morningstar Value	Pair Corr
0.74	EPRF	Innovator SP Investment	Pair Corr
0.68	TMET	iShares Transition	Pair Corr
0.65	JEPI	JPMorgan Equity Premium	Pair Corr

Related Correlations Analysis

	SRTY	PDBA	IQDY	MAVF	EOCT	SOLZ	BETZ	FSZ	FEUS	SBIT
SRTY		-0.71	-0.87	-0.96	-0.22	0.44	0.28	-0.83	-0.66	0.11	SRTY
PDBA	-0.71		0.76	0.79	0.42	-0.45	-0.24	0.72	0.53	0.1	PDBA
IQDY	-0.87	0.76		0.91	0.6	-0.7	-0.61	0.96	0.38	0.3	IQDY
MAVF	-0.96	0.79	0.91		0.3	-0.51	-0.31	0.87	0.69	-0.02	MAVF
EOCT	-0.22	0.42	0.6	0.3		-0.44	-0.74	0.53	-0.25	0.52	EOCT
SOLZ	0.44	-0.45	-0.7	-0.51	-0.44		0.7	-0.75	0.08	-0.69	SOLZ
BETZ	0.28	-0.24	-0.61	-0.31	-0.74	0.7		-0.55	0.42	-0.74	BETZ
FSZ	-0.83	0.72	0.96	0.87	0.53	-0.75	-0.55		0.37	0.29	FSZ
FEUS	-0.66	0.53	0.38	0.69	-0.25	0.08	0.42	0.37		-0.54	FEUS
SBIT	0.11	0.1	0.3	-0.02	0.52	-0.69	-0.74	0.29	-0.54		SBIT
	SRTY	PDBA	IQDY	MAVF	EOCT	SOLZ	BETZ	FSZ	FEUS	SBIT

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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

FSZ	+ 0.96	IQDY
MAVF	+ 0.91	IQDY
FSZ	+ 0.87	MAVF
MAVF	+ 0.79	PDBA
IQDY	+ 0.76	PDBA
FSZ	+ 0.72	PDBA

High negative correlations

MAVF	- 0.96	SRTY
IQDY	- 0.87	SRTY
FSZ	- 0.83	SRTY
FSZ	- 0.75	SOLZ
SBIT	- 0.74	BETZ
BETZ	- 0.74	EOCT

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
SRTY	2.64	(0.48)	0.00	2.38	0.00	0.00	5.50	(5.91)	16.71
PDBA	0.39	0.02	(0.09)	14.51	0.42	(0.40)	1.03	(0.81)	2.52
IQDY	0.63	0.18	0.12	(3.92)	0.57	(0.70)	1.37	(1.34)	4.20
MAVF	0.66	0.11	0.05	(3.41)	0.68	(0.72)	1.43	(1.35)	3.94
EOCT	0.28	0.10	0.09	0.63	0.00	(0.34)	0.71	(0.52)	2.20
SOLZ	3.97	(0.78)	0.00	(0.84)	0.00	0.00	9.26	(9.21)	26.89
BETZ	1.01	(0.14)	0.00	2.18	0.00	0.00	1.72	(2.62)	5.66
FSZ	0.56	0.11	0.11	0.26	0.48	(0.65)	1.32	(1.15)	3.35
FEUS	0.53	0.01	(0.08)	(0.04)	0.77	(0.51)	1.13	(1.20)	3.83
SBIT	4.83	1.03	0.11	(0.29)	6.14	(5.08)	11.70	(9.92)	47.01

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