ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort Real
SRS Etf  USD 50.98  0.09  0.18%   
The current 90-days correlation between ProShares UltraShort Real and ProShares UltraShort Financials is 0.26 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraShort Correlation With Market

Very good diversification

The correlation between ProShares UltraShort Real and DJI is -0.31 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Real and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort Real. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with ProShares Etf

  0.7SGG Barclays CapitalPairCorr
  0.91TBT ProShares UltraShortPairCorr
  0.87YCS ProShares UltraShort YenPairCorr
  0.9TMV Direxion Daily 20 Sell-off TrendPairCorr
  0.69HAPR Innovator Premium IncomePairCorr
  0.73BRLN Blackrock ETF TrustPairCorr
  0.68XDEC First Trust ExchangePairCorr
  0.8TFLO iShares Treasury FloatingPairCorr
  0.72IVES Amplify ETF Trust Symbol ChangePairCorr
  0.64STK Columbia Seligman PremiumPairCorr
  0.68GJAN First Trust ExchangePairCorr
  0.82XONE Bondbloxx Bloomberg OnePairCorr
  0.79MINT PIMCO Enhanced ShortPairCorr

Moving against ProShares Etf

  0.59TAIL Cambria Tail RiskPairCorr
  0.42QID ProShares UltraShort QQQPairCorr
  0.36NRGU Bank Of MontrealPairCorr
  0.35PSQ ProShares Short QQQPairCorr

Related Correlations Analysis

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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   
TWM
+ 0.86
SKF
EEV
+ 0.79
SMN
DUG
+ 0.59
SMN
TWM
+ 0.59
DUG
DUG
+ 0.53
SKF
TWM
+ 0.32
SMN
  
High negative correlations   
EEV
- 0.43
SKF
SMN
- 0.04
SKF
TWM
- 0.01
EEV

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.

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