ProShares Short Correlations

SVXY Etf

USD 53.37 0.43 0.80%

The current 90-days correlation between ProShares Short VIX and PIMCO Enhanced Short is -0.09 (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

Poor diversification

The correlation between ProShares Short VIX and DJI is 0.74 (i.e., Poor 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 discontinued.

Moving together with ProShares Etf

0.71	NAPR	Innovator Nasdaq 100	Pair Corr
0.83	DAUG	FT Cboe Vest	Pair Corr
0.75	UAUG	Innovator Equity Ultra	Pair Corr
0.7	RSST	Return Stacked Stocks	Pair Corr
0.72	GPGCX	Grandeur Peak Global	Pair Corr
0.75	QTAP	Innovator Growth 100	Pair Corr

Moving against ProShares Etf

0.98	VXX	iPath Series B	Pair Corr
0.98	VIXY	ProShares VIX Short	Pair Corr
0.96	VIXM	ProShares VIX Mid	Pair Corr
0.9	VXZ	iPath Series B	Pair Corr
0.42	EUO	ProShares UltraShort Euro	Pair Corr
0.35	UUP	Invesco DB Dollar	Pair Corr

Related Correlations Analysis

	VIXY	UVXY	GUSH	FTSD	AAPU	ERX	SDOW	FUMB	SMB	EMNT
VIXY		1.0	0.01	-0.68	0.48	-0.28	0.79	-0.6	-0.62	-0.6	VIXY
UVXY	1.0		-0.05	-0.72	0.48	-0.34	0.82	-0.64	-0.65	-0.64	UVXY
GUSH	0.01	-0.05		0.6	-0.08	0.9	-0.44	0.66	0.62	0.69	GUSH
FTSD	-0.68	-0.72	0.6		-0.57	0.85	-0.86	0.96	0.96	0.98	FTSD
AAPU	0.48	0.48	-0.08	-0.57		-0.36	0.54	-0.63	-0.54	-0.58	AAPU
ERX	-0.28	-0.34	0.9	0.85	-0.36		-0.66	0.89	0.85	0.91	ERX
SDOW	0.79	0.82	-0.44	-0.86	0.54	-0.66		-0.83	-0.79	-0.84	SDOW
FUMB	-0.6	-0.64	0.66	0.96	-0.63	0.89	-0.83		0.95	0.99	FUMB
SMB	-0.62	-0.65	0.62	0.96	-0.54	0.85	-0.79	0.95		0.96	SMB
EMNT	-0.6	-0.64	0.69	0.98	-0.58	0.91	-0.84	0.99	0.96		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	+ 0.99	FUMB
EMNT	+ 0.98	FTSD
FUMB	+ 0.96	FTSD
SMB	+ 0.96	FTSD
EMNT	+ 0.96	SMB

High negative correlations

SDOW	- 0.86	FTSD
EMNT	- 0.84	SDOW
FUMB	- 0.83	SDOW
SMB	- 0.79	SDOW
FTSD	- 0.72	UVXY
FTSD	- 0.68	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	2.30	(0.15)	0.00	0.16	0.00	0.00	4.31	(5.35)	20.38
UVXY	3.49	(0.21)	0.00	0.16	0.00	0.00	6.25	(7.65)	30.60
GUSH	2.67	0.39	0.08	(2.06)	2.97	(2.82)	5.88	(5.02)	13.96
FTSD	0.06	0.01	(1.73)	0.76	0.00	(0.07)	0.12	(0.09)	0.34
AAPU	1.91	(0.09)	(0.02)	0.04	2.83	(1.92)	5.19	(3.73)	18.48
ERX	2.15	0.60	0.22	1.15	2.12	(2.51)	5.26	(3.91)	10.76
SDOW	1.75	(0.36)	0.00	(0.57)	0.00	0.00	3.67	(3.79)	12.56
FUMB	0.04	0.00	(1.36)	1.33	0.00	(0.07)	0.10	(0.05)	0.25
SMB	0.08	0.01	(0.73)	1.77	0.00	(0.11)	0.17	(0.17)	0.58
EMNT	0.01	0.00	(9.48)	0.00	0.00	(0.03)	0.05	(0.01)	0.07

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