ProShares UltraShort Correlations

ZSL Etf

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The current 90-days correlation between ProShares UltraShort and ProShares Ultra MSCI is -0.43 (i.e., Very good 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 Silver 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 Silver 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 Silver 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 Silver. 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

0.92	GLL	ProShares UltraShort Gold	Pair Corr
0.98	GDXD	MicroSectors Gold Miners	Pair Corr
0.93	DULL	MicroSectors Gold	Pair Corr
0.89	VXX	iPath Series B Low Volatility	Pair Corr
0.89	VIXY	ProShares VIX Short Low Volatility	Pair Corr

Moving against ProShares Etf

0.93	SCZ	iShares MSCI EAFE	Pair Corr
0.89	SIXD	AIM ETF Products	Pair Corr
0.86	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.73	ULE	ProShares Ultra Euro	Pair Corr
0.97	PMAY	Innovator SP 500	Pair Corr
0.96	PFFA	Virtus InfraCap Preferred	Pair Corr
0.96	JANW	AIM ETF Products	Pair Corr
0.95	SIL	Global X Silver	Pair Corr
0.92	SPVM	Invesco SP 500	Pair Corr
0.92	WLTG	ETF Opportunities Trust	Pair Corr
0.92	BSMS	Invesco BulletShares 2028	Pair Corr
0.91	TOCT	Innovator Equity Defined	Pair Corr
0.9	FNDC	Schwab Fundamental	Pair Corr
0.89	IAUM	iShares Gold Trust	Pair Corr
0.88	XTWO	Bondbloxx ETF Trust	Pair Corr
0.86	LITP	Sprott Lithium Miners	Pair Corr
0.86	EWT	iShares MSCI Taiwan	Pair Corr
0.83	PMIO	PGIM ETF Trust	Pair Corr
0.83	VTHR	Vanguard Russell 3000	Pair Corr
0.44	WEBS	Direxion Daily Dow	Pair Corr
0.94	JPIE	JP Morgan Exchange	Pair Corr
0.94	ESML	iShares ESG Aware	Pair Corr
0.93	IYM	iShares Basic Materials	Pair Corr
0.91	RNMC	First Trust Mid	Pair Corr
0.89	FIDU	Fidelity MSCI Industrials	Pair Corr
0.87	VBK	Vanguard Small Cap	Pair Corr

Related Correlations Analysis

	YCS	AAPD	GGLS	ERY	KONG	HDMV	FORH	SRS	BRF	EFO
YCS		0.33	-0.42	0.02	0.29	-0.06	0.12	0.13	-0.14	0.06	YCS
AAPD	0.33		-0.36	-0.4	0.55	0.36	0.44	-0.27	0.35	0.48	AAPD
GGLS	-0.42	-0.36		0.48	-0.71	-0.45	-0.61	0.22	-0.55	-0.57	GGLS
ERY	0.02	-0.4	0.48		-0.42	-0.93	-0.56	0.78	-0.94	-0.9	ERY
KONG	0.29	0.55	-0.71	-0.42		0.52	0.86	-0.2	0.44	0.71	KONG
HDMV	-0.06	0.36	-0.45	-0.93	0.52		0.59	-0.75	0.89	0.96	HDMV
FORH	0.12	0.44	-0.61	-0.56	0.86	0.59		-0.41	0.6	0.74	FORH
SRS	0.13	-0.27	0.22	0.78	-0.2	-0.75	-0.41		-0.68	-0.68	SRS
BRF	-0.14	0.35	-0.55	-0.94	0.44	0.89	0.6	-0.68		0.86	BRF
EFO	0.06	0.48	-0.57	-0.9	0.71	0.96	0.74	-0.68	0.86		EFO
	YCS	AAPD	GGLS	ERY	KONG	HDMV	FORH	SRS	BRF	EFO

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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

EFO	+ 0.96	HDMV
BRF	+ 0.89	HDMV
FORH	+ 0.86	KONG
EFO	+ 0.86	BRF
SRS	+ 0.78	ERY
EFO	+ 0.74	FORH

High negative correlations

BRF	- 0.94	ERY
HDMV	- 0.93	ERY
EFO	- 0.9	ERY
SRS	- 0.75	HDMV
KONG	- 0.71	GGLS
EFO	- 0.68	SRS

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
YCS	0.84	0.00	(0.05)	(0.10)	1.27	(0.73)	1.66	(1.95)	6.19
AAPD	0.88	0.12	0.02	(0.13)	1.24	(0.94)	1.92	(2.13)	7.64
GGLS	1.25	(0.06)	0.00	0.21	0.00	0.00	2.57	(2.93)	9.29
ERY	2.21	(0.53)	0.00	0.84	0.00	0.00	3.61	(5.11)	12.55
KONG	0.52	(0.01)	(0.04)	0.05	0.65	(0.58)	1.12	(1.24)	3.55
HDMV	0.44	0.13	0.18	0.38	0.19	(0.52)	1.00	(0.78)	2.28
FORH	0.68	(0.03)	(0.05)	0.02	0.88	(0.73)	1.36	(1.67)	4.56
SRS	1.21	(0.11)	0.00	0.17	0.00	0.00	2.64	(2.78)	7.46
BRF	1.45	0.21	0.09	0.32	1.95	(1.49)	2.72	(2.59)	10.04
EFO	1.25	0.21	0.14	0.20	1.36	(1.27)	2.85	(2.56)	6.19

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