ProShares UltraShort Correlations

YCS Etf

USD 48.95 0.81 1.63%

The current 90-days correlation between ProShares UltraShort Yen and Themes Gold Miners is -0.07 (i.e., Good diversification). The correlation of ProShares 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.

ProShares UltraShort Correlation With Market

Weak diversification

The correlation between ProShares UltraShort Yen and DJI is 0.37 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Yen and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Your Current Watchlist to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort Yen. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving against ProShares Etf

0.47	VIXM	ProShares VIX Mid	Pair Corr
0.46	VXZ	iPath Series B	Pair Corr
0.44	VXX	iPath Series B	Pair Corr
0.44	VIXY	ProShares VIX Short	Pair Corr
0.41	HPQ	HP Inc	Pair Corr

Related Correlations Analysis

	ZSL	ERY	SMHB	SQLV	JUNT	AAPD	MCH	HDG	EGUS	AUMI
ZSL		0.74	-0.87	-0.92	-0.95	-0.55	-0.59	-0.93	0.23	-0.93	ZSL
ERY	0.74		-0.8	-0.75	-0.68	-0.36	-0.58	-0.85	0.56	-0.77	ERY
SMHB	-0.87	-0.8		0.94	0.87	0.46	0.6	0.93	-0.26	0.85	SMHB
SQLV	-0.92	-0.75	0.94		0.93	0.38	0.54	0.94	-0.23	0.85	SQLV
JUNT	-0.95	-0.68	0.87	0.93		0.43	0.65	0.94	-0.01	0.88	JUNT
AAPD	-0.55	-0.36	0.46	0.38	0.43		0.63	0.53	-0.17	0.6	AAPD
MCH	-0.59	-0.58	0.6	0.54	0.65	0.63		0.73	0.09	0.63	MCH
HDG	-0.93	-0.85	0.93	0.94	0.94	0.53	0.73		-0.22	0.91	HDG
EGUS	0.23	0.56	-0.26	-0.23	-0.01	-0.17	0.09	-0.22		-0.23	EGUS
AUMI	-0.93	-0.77	0.85	0.85	0.88	0.6	0.63	0.91	-0.23		AUMI
	ZSL	ERY	SMHB	SQLV	JUNT	AAPD	MCH	HDG	EGUS	AUMI

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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

SQLV	+ 0.94	SMHB
HDG	+ 0.94	SQLV
HDG	+ 0.94	JUNT
HDG	+ 0.93	SMHB
JUNT	+ 0.93	SQLV
AUMI	+ 0.91	HDG

High negative correlations

JUNT	- 0.95	ZSL
AUMI	- 0.93	ZSL
HDG	- 0.93	ZSL
SQLV	- 0.92	ZSL
SMHB	- 0.87	ZSL
HDG	- 0.85	ERY

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
ZSL	7.57	(1.91)	0.00	0.64	0.00	0.00	13.38	(14.80)	65.40
ERY	2.19	(0.63)	0.00	1.17	0.00	0.00	3.56	(5.11)	12.55
SMHB	1.97	0.16	0.10	0.19	1.88	(2.28)	4.29	(3.09)	12.36
SQLV	0.83	0.07	0.09	0.16	0.62	(0.99)	2.29	(1.33)	5.04
JUNT	0.22	0.01	(0.15)	0.12	0.22	(0.23)	0.58	(0.57)	1.70
AAPD	0.78	0.02	0.00	0.05	0.00	0.00	1.49	(2.13)	7.64
MCH	0.81	(0.05)	(0.08)	0.01	1.00	(0.78)	1.52	(1.56)	5.61
HDG	0.24	0.02	(0.13)	0.15	0.20	(0.24)	0.49	(0.53)	1.25
EGUS	0.78	(0.13)	0.00	(0.07)	0.00	0.00	1.57	(1.95)	5.38
AUMI	2.28	0.51	0.14	0.53	2.87	(2.34)	5.56	(5.00)	20.64

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