ProShares UltraShort Correlations

TWM Etf

USD 27.97 0.59 2.07%

The current 90-days correlation between ProShares UltraShort and Federated Hermes ETF is -0.51 (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 Russell2000 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 Russell20 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 Russell20 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 Russell2000. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in private.

Moving together with ProShares Etf

0.64	SH	ProShares Short SP500	Pair Corr
0.81	SPXU	ProShares UltraPro Short	Pair Corr
0.72	SDS	ProShares UltraShort	Pair Corr
0.74	SPXS	Direxion Daily SP	Pair Corr
0.95	RWM	ProShares Short Russ	Pair Corr
0.61	SPDN	Direxion Daily SP	Pair Corr
0.77	TAIL	Cambria Tail Risk	Pair Corr
0.9	DOG	ProShares Short Dow30	Pair Corr
0.69	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.66	ENTR	EntrepreneurShares	Pair Corr

Moving against ProShares Etf

0.86	NUGT	Direxion Daily Gold	Pair Corr
0.82	DFEN	Direxion Daily Aerospace	Pair Corr
0.81	DGP	DB Gold Double	Pair Corr
0.81	UGL	ProShares Ultra Gold	Pair Corr
0.67	USD	ProShares Ultra Semi	Pair Corr
0.67	MLPR	ETRACS Quarterly Pay	Pair Corr
0.66	DIG	ProShares Ultra Oil	Pair Corr
0.97	ETHO	Amplify Etho Climate	Pair Corr
0.92	PSMR	Pacer Swan SOS	Pair Corr
0.92	IJS	iShares SP Small	Pair Corr
0.91	DOO	BRP Inc Symbol Change	Pair Corr
0.9	AHYB	American Century ETF	Pair Corr
0.88	DFE	WisdomTree Europe	Pair Corr
0.86	DISV	Dimensional ETF Trust	Pair Corr
0.86	STXV	EA Series Trust	Pair Corr
0.84	URA	Global X Uranium	Pair Corr
0.82	PID	Invesco International	Pair Corr
0.81	MEXX	Direxion Daily MSCI Potential Growth	Pair Corr
0.81	VYMI	Vanguard International	Pair Corr
0.81	RHRX	Starboard Investment	Pair Corr
0.8	DUSL	Direxion Daily Indus	Pair Corr
0.79	TAXT	Northern Trust Tax	Pair Corr
0.71	VDC	Vanguard Consumer Staples	Pair Corr
0.67	ERET	iShares Environmentally	Pair Corr
0.94	NAPR	Innovator Nasdaq 100	Pair Corr
0.91	RSST	Return Stacked Stocks	Pair Corr
0.91	DIA	SPDR Dow Jones	Pair Corr
0.9	HIYS	Invesco High Yield Symbol Change	Pair Corr

Related Correlations Analysis

	UYM	SAA	EET	UMDD	UXI	CRCG	FDAT	CBSE	ZIG	FHYS
UYM		0.89	0.96	0.92	0.97	-0.8	0.9	0.82	0.88	0.82	UYM
SAA	0.89		0.88	0.99	0.93	-0.6	0.94	0.88	0.97	0.88	SAA
EET	0.96	0.88		0.91	0.95	-0.76	0.93	0.84	0.86	0.82	EET
UMDD	0.92	0.99	0.91		0.96	-0.6	0.96	0.88	0.95	0.89	UMDD
UXI	0.97	0.93	0.95	0.96		-0.76	0.91	0.81	0.92	0.81	UXI
CRCG	-0.8	-0.6	-0.76	-0.6	-0.76		-0.54	-0.47	-0.6	-0.43	CRCG
FDAT	0.9	0.94	0.93	0.96	0.91	-0.54		0.91	0.9	0.93	FDAT
CBSE	0.82	0.88	0.84	0.88	0.81	-0.47	0.91		0.87	0.88	CBSE
ZIG	0.88	0.97	0.86	0.95	0.92	-0.6	0.9	0.87		0.83	ZIG
FHYS	0.82	0.88	0.82	0.89	0.81	-0.43	0.93	0.88	0.83		FHYS
	UYM	SAA	EET	UMDD	UXI	CRCG	FDAT	CBSE	ZIG	FHYS

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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

UMDD	+ 0.99	SAA
UXI	+ 0.97	UYM
ZIG	+ 0.97	SAA
EET	+ 0.96	UYM
UXI	+ 0.96	UMDD
FDAT	+ 0.96	UMDD

High negative correlations

CRCG	- 0.8	UYM
CRCG	- 0.76	UXI
CRCG	- 0.76	EET
ZIG	- 0.6	CRCG
CRCG	- 0.6	UMDD
CRCG	- 0.6	SAA

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
UYM	1.66	0.70	0.25	(1.10)	1.38	(1.77)	4.25	(3.00)	10.17
SAA	1.71	0.17	0.17	0.16	1.45	(2.07)	5.11	(2.92)	10.57
EET	1.46	0.34	0.23	0.35	1.27	(1.70)	4.17	(2.39)	9.54
UMDD	2.14	0.25	0.20	0.17	1.87	(2.51)	5.68	(4.17)	15.20
UXI	1.48	0.30	0.19	0.24	1.67	(1.60)	3.26	(3.39)	8.33
CRCG	7.26	(0.99)	0.00	(0.10)	0.00	0.00	19.09	(17.09)	42.21
FDAT	0.55	0.05	0.03	0.17	0.56	(0.60)	1.07	(0.93)	2.99
CBSE	1.10	0.20	0.07	(2.49)	1.24	(1.15)	2.00	(2.44)	7.32
ZIG	0.89	0.09	0.11	0.18	0.67	(1.13)	2.63	(1.66)	5.46
FHYS	0.08	0.02	(0.74)	0.78	0.00	(0.11)	0.22	(0.13)	0.56

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