Profunds Ultrashort Correlations

USPSX Fund

USD 25.35 0.19 0.74%

The current 90-days correlation between Profunds Ultrashort and Old Westbury Short Term is 0.11 (i.e., Average diversification). The correlation of Profunds Ultrashort 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.

Profunds Ultrashort Correlation With Market

Significant diversification

The correlation between Profunds Ultrashort Nasdaq 100 and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Profunds Ultrashort Nasdaq 100 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 Profunds Ultrashort Nasdaq 100. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with Profunds Mutual Fund

0.89	UIPIX	Ultrashort Mid Cap	Pair Corr
0.89	UIPSX	Ultrashort Mid Cap	Pair Corr
0.98	BRPIX	Bear Profund Bear	Pair Corr
0.98	BRPSX	Bear Profund Bear	Pair Corr
0.8	GVPIX	Us Government Plus	Pair Corr
0.82	GVPSX	Us Government Plus	Pair Corr
0.84	UKPIX	Ultrashort Japan Profund	Pair Corr
0.72	FDPSX	Falling Dollar Profund	Pair Corr

Moving against Profunds Mutual Fund

0.99	LGPIX	Large Cap Growth	Pair Corr
0.98	ULPIX	Ultrabull Profund	Pair Corr
0.98	ULPSX	Ultrabull Profund	Pair Corr
0.97	TEPSX	Technology Ultrasector	Pair Corr
0.93	OTPIX	Nasdaq 100 Profund	Pair Corr
0.9	MLPSX	Mid Cap Value	Pair Corr
0.9	MLPIX	Mid Cap Value	Pair Corr
0.9	INPIX	Internet Ultrasector	Pair Corr
0.9	INPSX	Internet Ultrasector	Pair Corr
0.9	WCPIX	Mobile Telecommunicatio	Pair Corr
0.9	WCPSX	Mobile Telecommunicatio	Pair Corr
0.89	TEPIX	Technology Ultrasector	Pair Corr
0.88	UMPSX	Ultramid Cap Profund	Pair Corr
0.83	CYPIX	Consumer Services	Pair Corr
0.82	CYPSX	Consumer Services	Pair Corr
0.79	SVPSX	Small Cap Value Potential Growth	Pair Corr
0.77	BTCFX	Bitcoin Strategy Profund Steady Growth	Pair Corr
0.77	SVPIX	Small Cap Value Potential Growth	Pair Corr
0.75	UJPSX	Ultrajapan Profund	Pair Corr
0.69	ENPIX	Oil Gas Ultrasector	Pair Corr
0.68	ENPSX	Oil Gas Ultrasector	Pair Corr
0.34	SRPIX	Short Real Estate	Pair Corr
0.92	UOPIX	Ultra Nasdaq 100	Pair Corr
0.92	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.92	MDPIX	Mid Cap Profund	Pair Corr
0.88	UMPIX	Ultramid Cap Profund	Pair Corr
0.86	IDPIX	Industrials Ultrasector	Pair Corr
0.85	UAPIX	Ultrasmall Cap Profund	Pair Corr
0.84	UAPSX	Ultrasmall Cap Profund	Pair Corr
0.82	SGPSX	Small Cap Growth	Pair Corr

Related Correlations Analysis

	OWSBX	USMIX	SMPIX	PIEFX	QLENX	USCAX	PRNHX	VCGAX
OWSBX		-0.09	-0.39	0.08	-0.12	-0.13	-0.14	-0.09	OWSBX
USMIX	-0.09		0.75	0.54	0.84	0.86	0.97	0.97	USMIX
SMPIX	-0.39	0.75		0.72	0.57	0.66	0.72	0.82	SMPIX
PIEFX	0.08	0.54	0.72		0.24	0.41	0.49	0.63	PIEFX
QLENX	-0.12	0.84	0.57	0.24		0.79	0.84	0.83	QLENX
USCAX	-0.13	0.86	0.66	0.41	0.79		0.84	0.82	USCAX
PRNHX	-0.14	0.97	0.72	0.49	0.84	0.84		0.94	PRNHX
VCGAX	-0.09	0.97	0.82	0.63	0.83	0.82	0.94		VCGAX
	OWSBX	USMIX	SMPIX	PIEFX	QLENX	USCAX	PRNHX	VCGAX

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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

PRNHX	+ 0.97	USMIX
VCGAX	+ 0.97	USMIX
VCGAX	+ 0.94	PRNHX
USCAX	+ 0.86	USMIX
QLENX	+ 0.84	USMIX
PRNHX	+ 0.84	QLENX

High negative correlations

SMPIX	- 0.39	OWSBX
PRNHX	- 0.14	OWSBX
USCAX	- 0.13	OWSBX
QLENX	- 0.12	OWSBX
VCGAX	- 0.09	OWSBX
USMIX	- 0.09	OWSBX

Risk-Adjusted Indicators

There is a big difference between Profunds Mutual Fund performing well and Profunds Ultrashort Mutual Fund 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 Profunds 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
OWSBX	0.09	0.00	(0.63)	(0.10)	0.00	(0.12)	0.20	(0.20)	0.49
USMIX	0.78	0.02	0.05	0.10	0.78	(0.89)	1.80	(1.40)	5.72
SMPIX	2.80	0.12	0.00	(0.56)	4.08	(2.47)	5.38	(6.39)	18.07
PIEFX	0.81	0.01	(0.09)	0.05	1.00	(0.92)	1.82	(1.45)	4.54
QLENX	0.32	0.09	(0.01)	(1.69)	0.20	(0.39)	0.76	(0.57)	2.17
USCAX	0.95	0.06	(0.02)	0.77	0.97	(1.16)	2.26	(1.70)	7.45
PRNHX	0.77	0.03	0.03	0.11	1.03	(0.77)	1.50	(1.29)	6.84
VCGAX	0.57	0.01	0.00	0.09	0.68	(0.61)	1.24	(1.36)	4.09

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