ProShares UltraShort Correlations

TWM Etf

USD 31.36 0.64 2.00%

The current 90-days correlation between ProShares UltraShort and ProShares Ultra Basic is -0.71 (i.e., Pay attention - limited upside). 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 -0.8 (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 producer price index.

Moving together with ProShares Etf

0.75	SH	ProShares Short SP500 Sell-off Trend	Pair Corr
0.76	SPXU	ProShares UltraPro Short	Pair Corr
0.76	SDS	ProShares UltraShort	Pair Corr
0.76	SPXS	Direxion Daily SP	Pair Corr
0.63	QID	ProShares UltraShort QQQ Aggressive Push	Pair Corr
1.0	RWM	ProShares Short Russ Aggressive Push	Pair Corr
0.74	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.71	TAIL	Cambria Tail Risk	Pair Corr
0.76	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.85	VO	Vanguard Mid Cap	Pair Corr
0.81	VTI	Vanguard Total Stock	Pair Corr
0.81	TOT	Advisor Managed Port	Pair Corr
0.76	VTV	Vanguard Value Index	Pair Corr
0.75	SPY	SPDR SP 500	Pair Corr
0.75	IVV	iShares Core SP	Pair Corr
0.58	VUG	Vanguard Growth Index	Pair Corr
0.37	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.59	BAC	Bank of America	Pair Corr
0.53	AXP	American Express	Pair Corr
0.52	MCD	McDonalds	Pair Corr
0.51	INTC	Intel Aggressive Push	Pair Corr
0.48	BA	Boeing	Pair Corr
0.37	MRK	Merck Company	Pair Corr
0.37	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	UYM	SAA	EET	UMDD	UXI	CRCG	FDAT	CBSE	ZIG	FHYS
UYM		0.76	0.14	0.8	0.7	0.09	0.61	0.45	0.75	0.51	UYM
SAA	0.76		0.27	0.97	0.81	-0.1	0.6	0.44	0.89	0.69	SAA
EET	0.14	0.27		0.33	0.58	0.1	0.48	0.16	0.06	0.21	EET
UMDD	0.8	0.97	0.33		0.87	-0.02	0.68	0.51	0.89	0.65	UMDD
UXI	0.7	0.81	0.58	0.87		0.17	0.79	0.52	0.69	0.45	UXI
CRCG	0.09	-0.1	0.1	-0.02	0.17		0.6	0.7	0.06	-0.71	CRCG
FDAT	0.61	0.6	0.48	0.68	0.79	0.6		0.84	0.53	0.02	FDAT
CBSE	0.45	0.44	0.16	0.51	0.52	0.7	0.84		0.55	-0.18	CBSE
ZIG	0.75	0.89	0.06	0.89	0.69	0.06	0.53	0.55		0.52	ZIG
FHYS	0.51	0.69	0.21	0.65	0.45	-0.71	0.02	-0.18	0.52		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	+ 0.97	SAA
ZIG	+ 0.89	SAA
ZIG	+ 0.89	UMDD
UXI	+ 0.87	UMDD
CBSE	+ 0.84	FDAT
UXI	+ 0.81	SAA

High negative correlations

FHYS	- 0.71	CRCG
FHYS	- 0.18	CBSE
CRCG	- 0.1	SAA
CRCG	- 0.02	UMDD

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	1.50	(0.03)	0.01	0.04	1.68	(1.63)	3.23	(3.08)	7.36
SAA	1.78	(0.09)	0.00	0.02	2.24	(1.91)	3.62	(4.20)	8.62
EET	1.46	0.08	0.06	0.10	1.83	(1.55)	3.35	(2.39)	9.55
UMDD	2.27	(0.10)	0.01	0.03	3.01	(2.13)	5.68	(4.92)	11.99
UXI	1.39	(0.06)	0.00	0.03	1.86	(1.37)	2.37	(3.15)	7.40
CRCG	8.09	(1.53)	0.00	(0.20)	0.00	0.00	19.09	(19.40)	56.76
FDAT	0.63	(0.04)	(0.06)	0.01	0.83	(0.61)	1.07	(1.19)	3.89
CBSE	1.19	(0.10)	0.00	(0.01)	0.00	0.00	2.00	(2.73)	7.39
ZIG	0.88	(0.08)	0.00	(0.01)	0.00	0.00	2.07	(1.63)	4.44
FHYS	0.11	0.01	(0.24)	0.13	0.00	(0.13)	0.26	(0.22)	0.61

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