ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort Yen
YCS Etf  USD 45.22  0.24  0.53%   
The current 90-days correlation between ProShares UltraShort Yen and ProShares UltraShort Euro is 0.25 (i.e., Modest 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

Good diversification

The correlation between ProShares UltraShort Yen and DJI is -0.08 (i.e., Good 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.
  
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 main economic indicators.

Moving together with ProShares Etf

  0.74UUP Invesco DB DollarPairCorr
  0.62EUO ProShares UltraShort EuroPairCorr

Moving against ProShares Etf

  0.9BND Vanguard Total BondPairCorr
  0.82UDN Invesco DB DollarPairCorr
  0.78VO Vanguard Mid CapPairCorr
  0.78VB Vanguard Small CapPairCorr
  0.68VTV Vanguard Value Index Sell-off TrendPairCorr
  0.55VEA Vanguard FTSE DevelopedPairCorr
  0.54VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.51CEFD ETRACS Monthly PayPairCorr
  0.45SPY SPDR SP 500 Sell-off TrendPairCorr
  0.45IVV iShares Core SPPairCorr
  0.78VZ Verizon Communications Sell-off TrendPairCorr
  0.76HD Home DepotPairCorr
  0.72PG Procter GamblePairCorr
  0.62JNJ Johnson JohnsonPairCorr
  0.6AA Alcoa CorpPairCorr
  0.54XOM Exxon Mobil CorpPairCorr
  0.52HPQ HP IncPairCorr
  0.49CVX Chevron CorpPairCorr
  0.47BAC Bank of AmericaPairCorr
  0.34KO Coca Cola Aggressive PushPairCorr
  0.33T ATT Inc Aggressive PushPairCorr

Related Correlations Analysis

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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   
ULE
+ 0.63
YCL
EWV
+ 0.45
EUO
GLL
+ 0.34
ULE
GLL
+ 0.29
EWV
  
High negative correlations   
ULE
- 0.99
EUO
EWV
- 0.74
YCL
YCL
- 0.6
EUO
EWV
- 0.5
ULE
GLL
- 0.39
EUO
GLL
- 0.06
YCL

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.

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