ProShares UltraShort Correlations

RXD Etf

USD 12.73 0.18 1.43%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Consumer is 0.48 (i.e., Very weak 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.

ProShares UltraShort Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraShort Health and DJI is -0.72 (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 Health and DJI in the same portfolio, assuming nothing else is changed.

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

Moving against ProShares Etf

0.35	TAIL	Cambria Tail Risk	Pair Corr
0.31	EUSB	iShares Trust	Pair Corr
0.35	KO	Coca Cola Earnings Call Tomorrow	Pair Corr

Related Correlations Analysis

	SZK	SDP	SIJ	REW	SCC
SZK		0.09	-0.13	-0.21	-0.11	SZK
SDP	0.09		0.92	0.89	0.9	SDP
SIJ	-0.13	0.92		0.99	0.98	SIJ
REW	-0.21	0.89	0.99		0.97	REW
SCC	-0.11	0.9	0.98	0.97		SCC
	SZK	SDP	SIJ	REW	SCC

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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

REW	+ 0.99	SIJ
SCC	+ 0.98	SIJ
SCC	+ 0.97	REW
SIJ	+ 0.92	SDP
SCC	+ 0.9	SDP
REW	+ 0.89	SDP

High negative correlations

REW	- 0.21	SZK
SIJ	- 0.13	SZK
SCC	- 0.11	SZK

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
SZK	1.15	0.14	(0.05)	(0.05)	1.63	(1.11)	2.28	(2.26)	6.70
SDP	1.37	(0.09)	0.00	0.22	0.00	0.00	2.90	(3.02)	9.96
SIJ	1.35	(0.29)	0.00	0.30	0.00	0.00	1.92	(3.47)	10.95
REW	1.89	(0.51)	0.00	0.37	0.00	0.00	2.86	(5.01)	16.08
SCC	2.01	(0.15)	0.00	0.20	0.00	0.00	4.64	(4.85)	15.34

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