ProShares UltraShort Correlations

SZK Etf

USD 11.80 0.12 1.01%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Health is 0.46 (i.e., Very weak 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 Consumer moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Good diversification

The correlation between ProShares UltraShort Consumer and DJI is -0.15 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Consumer 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 Consumer. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in nation.

Moving together with ProShares Etf

0.67	UPRO	ProShares UltraPro SP500	Pair Corr
0.76	QTJA	Innovator ETFs Trust	Pair Corr
0.69	QTOC	Innovator ETFs Trust	Pair Corr
0.62	XTOC	Innovator ETFs Trust	Pair Corr
0.75	QTAP	Innovator Growth 100	Pair Corr
0.82	TSJA	TSJA	Pair Corr
0.77	XTJA	Innovator ETFs Trust	Pair Corr
0.83	DSJA	DSJA	Pair Corr
0.77	XDJA	Innovator ETFs Trust	Pair Corr
0.73	XTAP	Innovator Equity Acc	Pair Corr
0.62	WMT	Walmart Aggressive Push	Pair Corr
0.68	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.74	BAC	Bank of America Aggressive Push	Pair Corr
0.79	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.79	CSCO	Cisco Systems Aggressive Push	Pair Corr
0.75	AA	Alcoa Corp Fiscal Year End 15th of January 2025	Pair Corr
0.71	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.62	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr

Moving against ProShares Etf

0.85	TAIL	Cambria Tail Risk	Pair Corr
0.71	QID	ProShares UltraShort QQQ Potential Growth	Pair Corr
0.7	PSQ	ProShares Short QQQ	Pair Corr
0.68	SPXU	ProShares UltraPro Short	Pair Corr
0.68	SPXS	Direxion Daily SP	Pair Corr
0.67	SDS	ProShares UltraShort	Pair Corr
0.65	SH	ProShares Short SP500	Pair Corr
0.64	SPDN	Direxion Daily SP	Pair Corr
0.6	RWM	ProShares Short Russ	Pair Corr
0.55	DOG	ProShares Short Dow30	Pair Corr
0.89	KO	Coca Cola Aggressive Push	Pair Corr
0.8	JNJ	Johnson Johnson Sell-off Trend	Pair Corr
0.47	VZ	Verizon Communications Aggressive Push	Pair Corr
0.43	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr

Related Correlations Analysis

	RXD	SIJ	SCC	SDP	REW
RXD		-0.67	-0.83	-0.4	-0.6	RXD
SIJ	-0.67		0.9	0.68	0.91	SIJ
SCC	-0.83	0.9		0.56	0.81	SCC
SDP	-0.4	0.68	0.56		0.59	SDP
REW	-0.6	0.91	0.81	0.59		REW
	RXD	SIJ	SCC	SDP	REW

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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

REW	+ 0.91	SIJ
SCC	+ 0.9	SIJ
REW	+ 0.81	SCC
SDP	+ 0.68	SIJ
REW	+ 0.59	SDP
SDP	+ 0.56	SCC

High negative correlations

SCC	- 0.83	RXD
SIJ	- 0.67	RXD
REW	- 0.6	RXD
SDP	- 0.4	RXD

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
RXD	1.15	0.36	0.10	(0.22)	0.93	(1.46)	2.75	(1.74)	5.96
SIJ	1.39	(0.04)	0.00	0.14	0.00	0.00	2.60	(3.01)	12.29
SCC	1.74	(0.22)	0.00	0.23	0.00	0.00	3.10	(3.59)	11.33
SDP	1.52	(0.19)	0.00	0.60	0.00	0.00	2.92	(3.03)	8.72
REW	1.95	0.15	0.00	0.05	0.00	0.00	4.98	(3.76)	16.18

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