ProShares UltraShort Correlations

SKF Etf

USD 28.59 0.07 0.25%

The current 90-days correlation between ProShares UltraShort and ProShares Trust is 0.22 (i.e., Modest diversification). The correlation of ProShares UltraShort 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 UltraShort Correlation With Market

Excellent diversification

The correlation between ProShares UltraShort Financial and DJI is -0.51 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Financial 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 UltraShort 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 industry.

Moving together with ProShares Etf

0.65	SH	ProShares Short SP500 Sell-off Trend	Pair Corr
0.63	SPXU	ProShares UltraPro Short Sell-off Trend	Pair Corr
0.64	SDS	ProShares UltraShort	Pair Corr
0.64	SPXS	Direxion Daily SP Sell-off Trend	Pair Corr
0.65	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.66	TAIL	Cambria Tail Risk Low Volatility	Pair Corr
0.7	XLU	Utilities Select Sector Aggressive Push	Pair Corr

Moving against ProShares Etf

0.61	SPY	SPDR SP 500	Pair Corr
0.61	IVV	iShares Core SP	Pair Corr
0.6	VTI	Vanguard Total Stock	Pair Corr
0.6	TOT	Advisor Managed Port	Pair Corr
0.54	VUG	Vanguard Growth Index	Pair Corr
0.54	SIXJ	AIM ETF Products	Pair Corr
0.46	VO	Vanguard Mid Cap	Pair Corr
0.41	TLCI	Touchstone ETF Trust	Pair Corr
0.39	DBA	Invesco DB Agriculture	Pair Corr
0.34	ESML	iShares ESG Aware	Pair Corr
0.33	FPXE	First Trust IPOX	Pair Corr
0.56	PSFD	Pacer Swan SOS	Pair Corr
0.53	JANW	AIM ETF Products	Pair Corr
0.5	XYLD	Global X SP	Pair Corr
0.45	FHLC	Fidelity MSCI Health	Pair Corr

Related Correlations Analysis

	SEF	EUM	EFZ	UGE	QQXL	REK	UPV	TSMG	USML	SETH
SEF		-0.04	-0.06	0.22	-0.48	-0.41	-0.21	0.01	-0.22	0.37	SEF
EUM	-0.04		0.89	-0.84	-0.07	0.64	-0.94	-0.95	-0.6	-0.44	EUM
EFZ	-0.06	0.89		-0.85	0.12	0.67	-0.87	-0.84	-0.65	-0.57	EFZ
UGE	0.22	-0.84	-0.85		-0.33	-0.76	0.83	0.85	0.66	0.77	UGE
QQXL	-0.48	-0.07	0.12	-0.33		0.28	0.1	0.01	0.11	-0.64	QQXL
REK	-0.41	0.64	0.67	-0.76	0.28		-0.52	-0.69	-0.55	-0.55	REK
UPV	-0.21	-0.94	-0.87	0.83	0.1	-0.52		0.92	0.71	0.43	UPV
TSMG	0.01	-0.95	-0.84	0.85	0.01	-0.69	0.92		0.6	0.46	TSMG
USML	-0.22	-0.6	-0.65	0.66	0.11	-0.55	0.71	0.6		0.48	USML
SETH	0.37	-0.44	-0.57	0.77	-0.64	-0.55	0.43	0.46	0.48		SETH
	SEF	EUM	EFZ	UGE	QQXL	REK	UPV	TSMG	USML	SETH

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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

TSMG	+ 0.92	UPV
EFZ	+ 0.89	EUM
TSMG	+ 0.85	UGE
UPV	+ 0.83	UGE
SETH	+ 0.77	UGE
USML	+ 0.71	UPV

High negative correlations

TSMG	- 0.95	EUM
UPV	- 0.94	EUM
UPV	- 0.87	EFZ
UGE	- 0.85	EFZ
TSMG	- 0.84	EFZ
UGE	- 0.84	EUM

ProShares UltraShort Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares UltraShort 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 UltraShort'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
SEF	0.74	0.10	(0.02)	(0.04)	0.85	(0.79)	1.94	(1.26)	4.15
EUM	0.72	(0.12)	0.00	0.25	0.00	0.00	1.41	(1.77)	4.74
EFZ	0.68	(0.09)	0.00	1.72	0.00	0.00	1.39	(1.67)	3.93
UGE	1.26	0.45	0.38	1.39	0.61	(1.57)	2.97	(1.66)	6.54
QQXL	1.66	(0.28)	0.00	(0.12)	0.00	0.00	2.67	(4.94)	10.73
REK	0.60	(0.05)	0.00	0.17	0.00	0.00	1.31	(1.33)	3.72
UPV	1.27	0.20	0.15	0.20	1.26	(1.45)	2.85	(2.50)	6.15
TSMG	3.27	0.51	0.16	0.28	3.49	(3.73)	7.06	(5.78)	19.96
USML	0.76	0.02	0.01	0.08	0.88	(0.82)	1.85	(1.46)	4.15
SETH	3.56	0.84	0.14	(0.43)	4.14	(3.69)	8.73	(7.64)	24.45

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