ProShares UltraShort Correlations

EUO Etf

USD 28.77 0.04 0.14%

The current 90-days correlation between ProShares UltraShort Euro and Nuveen Short Term REIT is -0.28 (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 Euro moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Good diversification

The correlation between ProShares UltraShort Euro and DJI is -0.1 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Euro and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

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

Moving together with ProShares Etf

0.96	UUP	Invesco DB Dollar	Pair Corr
0.86	YCS	ProShares UltraShort Yen	Pair Corr
0.71	MUU	Direxion Daily MU Buyout Trend	Pair Corr
0.71	KORU	Direxion Daily South	Pair Corr
0.62	FTSL	First Trust Senior	Pair Corr
0.62	XCEM	Columbia EM Core	Pair Corr
0.61	YFYA	Listed Funds Trust	Pair Corr
0.63	QGRD	Horizon Nasdaq 100	Pair Corr

Moving against ProShares Etf

0.99

UDN

Invesco DB Dollar

Pair Corr

Related Correlations Analysis

	NURE	SOYB	QQUP	EURL	WBIL	MARB	UTSL	NTSE	EAOA	XHYF
NURE		-0.48	-0.68	-0.4	-0.59	-0.58	-0.64	-0.65	-0.61	-0.24	NURE
SOYB	-0.48		0.49	0.29	0.27	0.78	0.1	0.46	0.43	0.33	SOYB
QQUP	-0.68	0.49		0.62	0.91	0.48	0.59	0.94	0.96	0.79	QQUP
EURL	-0.4	0.29	0.62		0.74	0.33	0.74	0.76	0.77	0.46	EURL
WBIL	-0.59	0.27	0.91	0.74		0.37	0.77	0.95	0.97	0.77	WBIL
MARB	-0.58	0.78	0.48	0.33	0.37		0.28	0.51	0.47	0.29	MARB
UTSL	-0.64	0.1	0.59	0.74	0.77	0.28		0.76	0.72	0.33	UTSL
NTSE	-0.65	0.46	0.94	0.76	0.95	0.51	0.76		0.98	0.78	NTSE
EAOA	-0.61	0.43	0.96	0.77	0.97	0.47	0.72	0.98		0.81	EAOA
XHYF	-0.24	0.33	0.79	0.46	0.77	0.29	0.33	0.78	0.81		XHYF
	NURE	SOYB	QQUP	EURL	WBIL	MARB	UTSL	NTSE	EAOA	XHYF

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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

EAOA	+ 0.98	NTSE
EAOA	+ 0.97	WBIL
EAOA	+ 0.96	QQUP
NTSE	+ 0.95	WBIL
NTSE	+ 0.94	QQUP
WBIL	+ 0.91	QQUP

High negative correlations

QQUP	- 0.68	NURE
NTSE	- 0.65	NURE
UTSL	- 0.64	NURE
EAOA	- 0.61	NURE
WBIL	- 0.59	NURE
MARB	- 0.58	NURE

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
NURE	0.70	(0.07)	0.00	(0.04)	0.00	0.00	1.64	(1.22)	5.15
SOYB	0.61	0.07	0.04	0.28	0.62	(0.68)	1.32	(1.28)	3.63
QQUP	1.72	0.05	0.05	0.09	2.45	(1.66)	4.33	(3.62)	11.52
EURL	1.58	(0.04)	0.01	0.04	1.84	(1.67)	3.32	(3.35)	9.08
WBIL	0.69	0.01	0.02	0.08	0.87	(0.68)	1.42	(1.31)	4.87
MARB	0.24	0.02	(0.13)	(0.69)	0.24	(0.31)	0.69	(0.39)	2.94
UTSL	1.74	0.06	0.03	0.12	2.01	(1.88)	3.65	(3.30)	10.53
NTSE	0.69	0.10	0.11	0.19	0.67	(0.78)	1.71	(1.12)	5.04
EAOA	0.42	0.01	(0.01)	0.07	0.57	(0.41)	0.93	(0.68)	3.54
XHYF	0.15	0.01	(0.22)	0.13	0.10	(0.17)	0.37	(0.37)	1.04

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