ProShares Short Correlations

SVXY Etf

USD 55.35 1.25 2.31%

The current 90-days correlation between ProShares Short VIX and PIMCO Enhanced Short is -0.13 (i.e., Good 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Short Correlation With Market

Almost no diversification

The correlation between ProShares Short VIX and DJI is 0.93 (i.e., Almost no diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short VIX 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 VIX. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in producer price index.

Moving together with ProShares Etf

0.7	UDN	Invesco DB Dollar	Pair Corr
0.72	CEFD	ETRACS Monthly Pay	Pair Corr
0.8	VTI	Vanguard Total Stock	Pair Corr
0.78	SPY	SPDR SP 500	Pair Corr
0.78	IVV	iShares Core SP	Pair Corr
0.61	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.88	TOT	Advisor Managed Port	Pair Corr
0.88	VTV	Vanguard Value Index	Pair Corr
0.89	VO	Vanguard Mid Cap	Pair Corr
0.8	MRK	Merck Company Earnings Call Today	Pair Corr
0.75	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.83	BA	Boeing	Pair Corr
0.71	CAT	Caterpillar	Pair Corr
0.8	WMT	Walmart Common Stock Aggressive Push	Pair Corr

Moving against ProShares Etf

0.99	VXX	iPath Series B Downward Rally	Pair Corr
0.99	VIXY	ProShares VIX Short Downward Rally	Pair Corr
0.97	VIXM	ProShares VIX Mid	Pair Corr
0.97	VXZ	iPath Series B	Pair Corr
0.58	EUO	ProShares UltraShort Euro	Pair Corr
0.49	IRE	Tidal Trust II Potential Growth	Pair Corr
0.44	UUP	Invesco DB Dollar	Pair Corr
0.6	HPQ	HP Inc Aggressive Push	Pair Corr
0.57	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.52	MSFT	Microsoft	Pair Corr
0.43	MMM	3M Company	Pair Corr
0.33	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	VIXY	UVXY	GUSH	FTSD	AAPU	ERX	SDOW	FUMB	SMB	EMNT
VIXY		1.0	0.08	-0.9	0.48	-0.53	0.94	-0.8	-0.9	-0.85	VIXY
UVXY	1.0		0.06	-0.9	0.48	-0.54	0.94	-0.81	-0.9	-0.86	UVXY
GUSH	0.08	0.06		0.13	0.02	0.57	-0.02	0.23	-0.03	0.2	GUSH
FTSD	-0.9	-0.9	0.13		-0.62	0.73	-0.82	0.94	0.94	0.97	FTSD
AAPU	0.48	0.48	0.02	-0.62		-0.69	0.53	-0.68	-0.64	-0.68	AAPU
ERX	-0.53	-0.54	0.57	0.73	-0.69		-0.59	0.8	0.64	0.81	ERX
SDOW	0.94	0.94	-0.02	-0.82	0.53	-0.59		-0.74	-0.8	-0.79	SDOW
FUMB	-0.8	-0.81	0.23	0.94	-0.68	0.8	-0.74		0.9	0.97	FUMB
SMB	-0.9	-0.9	-0.03	0.94	-0.64	0.64	-0.8	0.9		0.93	SMB
EMNT	-0.85	-0.86	0.2	0.97	-0.68	0.81	-0.79	0.97	0.93		EMNT
	VIXY	UVXY	GUSH	FTSD	AAPU	ERX	SDOW	FUMB	SMB	EMNT

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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

UVXY	+ 1.0	VIXY
EMNT	+ 0.97	FTSD
EMNT	+ 0.97	FUMB
SDOW	+ 0.94	VIXY
SDOW	+ 0.94	UVXY
FUMB	+ 0.94	FTSD

High negative correlations

SMB	- 0.9	UVXY
FTSD	- 0.9	UVXY
SMB	- 0.9	VIXY
FTSD	- 0.9	VIXY
EMNT	- 0.86	UVXY
EMNT	- 0.85	VIXY

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
VIXY	2.26	(0.17)	0.00	0.10	0.00	0.00	5.09	(5.22)	20.38
UVXY	3.37	(0.25)	0.00	0.10	0.00	0.00	8.03	(7.65)	30.60
GUSH	2.38	0.23	0.08	0.29	2.76	(2.53)	4.66	(3.99)	12.98
FTSD	0.06	0.01	(0.54)	0.86	0.00	(0.08)	0.13	(0.09)	0.34
AAPU	1.50	(0.07)	0.00	(0.02)	0.00	0.00	3.83	(3.03)	11.33
ERX	2.01	0.40	0.14	0.95	2.21	(2.10)	4.54	(3.67)	10.76
SDOW	1.76	0.00	0.00	0.05	0.00	0.00	3.14	(3.59)	9.25
FUMB	0.04	0.01	(0.48)	3.20	0.00	(0.07)	0.10	(0.05)	0.45
SMB	0.08	0.00	(0.35)	0.00	0.00	(0.12)	0.17	(0.12)	0.58
EMNT	0.02	0.01	(0.36)	(0.84)	0.00	(0.03)	0.05	(0.01)	0.29

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