ProShares UltraShort Correlations

SMN Etf

USD 9.62 0.09 0.94%

The current 90-days correlation between ProShares UltraShort and Global X SP is -0.54 (i.e., Excellent diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraShort moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraShort Basic moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraShort Basic and DJI is -0.9 (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 UltraShort Basic 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 Basic. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with ProShares Etf

0.86	RWM	ProShares Short Russ	Pair Corr
0.61	TAIL	Cambria Tail Risk Low Volatility	Pair Corr
0.86	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.98	VTV	Vanguard Value Index	Pair Corr
0.77	BND	Vanguard Total Bond	Pair Corr
0.72	VTI	Vanguard Total Stock	Pair Corr
0.71	TOT	Advisor Managed Port	Pair Corr
0.68	SPY	SPDR SP 500	Pair Corr
0.68	IVV	iShares Core SP	Pair Corr
0.98	TAXT	Northern Trust Tax	Pair Corr
0.98	BSMS	Invesco BulletShares 2028	Pair Corr
0.98	REGL	ProShares SP MidCap	Pair Corr
0.98	WLDR	Affinity World Leaders	Pair Corr
0.98	CCNR	CoreCommodity Natural	Pair Corr
0.98	FNDC	Schwab Fundamental	Pair Corr
0.95	EWT	iShares MSCI Taiwan	Pair Corr
0.95	DFSD	Dimensional ETF Trust	Pair Corr
0.95	LVHI	Franklin International	Pair Corr
0.94	FPXE	First Trust IPOX	Pair Corr
0.94	ESML	iShares ESG Aware	Pair Corr
0.93	UDI	USCF ETF Trust	Pair Corr
0.9	VO	Vanguard Mid Cap	Pair Corr
0.88	XFIX	Fm Investments Symbol Change	Pair Corr
0.86	TLCI	Touchstone ETF Trust	Pair Corr
0.85	SIXJ	AIM ETF Products	Pair Corr
0.73	DBA	Invesco DB Agriculture	Pair Corr
0.98	FIDU	Fidelity MSCI Industrials	Pair Corr
0.97	IRTR	iShares Trust	Pair Corr
0.96	EURL	Direxion Daily FTSE	Pair Corr
0.96	JEPI	JPMorgan Equity Premium Sell-off Trend	Pair Corr

Related Correlations Analysis

	SZK	MZZ	EFU	FLYD	AZYY	ZYN	GEOA	SIJ	GLCR	CHRI
SZK		0.82	0.88	0.11	0.77	-0.2	-0.93	0.92	-0.8	-0.35	SZK
MZZ	0.82		0.94	0.56	0.58	-0.47	-0.94	0.93	-0.9	-0.71	MZZ
EFU	0.88	0.94		0.46	0.58	-0.47	-0.98	0.98	-0.94	-0.66	EFU
FLYD	0.11	0.56	0.46		-0.03	-0.6	-0.39	0.39	-0.52	-0.8	FLYD
AZYY	0.77	0.58	0.58	-0.03		0.0	-0.65	0.67	-0.47	-0.01	AZYY
ZYN	-0.2	-0.47	-0.47	-0.6	0.0		0.41	-0.44	0.51	0.53	ZYN
GEOA	-0.93	-0.94	-0.98	-0.39	-0.65	0.41		-0.99	0.92	0.62	GEOA
SIJ	0.92	0.93	0.98	0.39	0.67	-0.44	-0.99		-0.91	-0.58	SIJ
GLCR	-0.8	-0.9	-0.94	-0.52	-0.47	0.51	0.92	-0.91		0.7	GLCR
CHRI	-0.35	-0.71	-0.66	-0.8	-0.01	0.53	0.62	-0.58	0.7		CHRI
	SZK	MZZ	EFU	FLYD	AZYY	ZYN	GEOA	SIJ	GLCR	CHRI

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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

SIJ	+ 0.98	EFU
EFU	+ 0.94	MZZ
SIJ	+ 0.93	MZZ
SIJ	+ 0.92	SZK
GLCR	+ 0.92	GEOA
EFU	+ 0.88	SZK

High negative correlations

SIJ	- 0.99	GEOA
GEOA	- 0.98	EFU
GLCR	- 0.94	EFU
GEOA	- 0.94	MZZ
GEOA	- 0.93	SZK
GLCR	- 0.91	SIJ

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
SZK	1.30	(0.36)	0.00	1.17	0.00	0.00	1.96	(3.13)	7.04
MZZ	1.45	(0.25)	0.00	1.14	0.00	0.00	2.96	(3.48)	10.37
EFU	1.16	(0.21)	0.00	0.19	0.00	0.00	2.75	(2.82)	7.53
FLYD	3.48	0.24	(0.01)	0.00	4.39	(3.61)	7.46	(6.76)	19.80
AZYY	1.18	(0.32)	0.00	(0.40)	0.00	0.00	1.95	(3.12)	6.69
ZYN	2.38	(0.32)	0.00	0.65	0.00	0.00	5.04	(5.62)	12.94
GEOA	0.61	0.14	0.16	0.23	0.58	(0.67)	1.28	(1.15)	3.59
SIJ	1.56	(0.32)	0.00	0.21	0.00	0.00	3.40	(3.33)	9.98
GLCR	0.66	0.10	0.10	0.27	0.58	(0.75)	1.45	(1.03)	4.37
CHRI	0.55	(0.03)	(0.05)	0.02	0.78	(0.53)	1.00	(1.19)	3.77

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