ProShares UltraShort Correlations
SCC Etf | USD 16.39 0.11 0.67% |
The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Consumer is -0.22 (i.e., Very 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.
ProShares UltraShort Correlation With Market
Pay attention - limited upside
The correlation between ProShares UltraShort Consumer and DJI is -0.81 (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 Consumer and DJI in the same portfolio, assuming nothing else is changed.
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Moving together with ProShares Etf
0.97 | SH | ProShares Short SP500 | PairCorr |
0.97 | PSQ | ProShares Short QQQ | PairCorr |
0.97 | SPXU | ProShares UltraPro Short | PairCorr |
0.97 | SDS | ProShares UltraShort | PairCorr |
0.97 | SPXS | Direxion Daily SP | PairCorr |
0.97 | QID | ProShares UltraShort QQQ Potential Growth | PairCorr |
0.94 | RWM | ProShares Short Russ Potential Growth | PairCorr |
0.97 | SPDN | Direxion Daily SP | PairCorr |
0.98 | TAIL | Cambria Tail Risk | PairCorr |
0.94 | DOG | ProShares Short Dow30 | PairCorr |
0.77 | HUM | Humana Inc Earnings Call This Week | PairCorr |
Moving against ProShares Etf
0.94 | BST | BlackRock Science Tech | PairCorr |
0.88 | EWC | iShares MSCI Canada | PairCorr |
0.84 | ARKW | ARK Next Generation | PairCorr |
0.82 | WTMF | WisdomTree Managed | PairCorr |
0.75 | IRET | iREIT MarketVector | PairCorr |
0.67 | OIH | VanEck Oil Services | PairCorr |
0.38 | WMT | Walmart Sell-off Trend | PairCorr |
0.93 | DIS | Walt Disney | PairCorr |
0.93 | BAC | Bank of America Aggressive Push | PairCorr |
0.93 | BA | Boeing Earnings Call This Week | PairCorr |
0.92 | MSFT | Microsoft Earnings Call This Week | PairCorr |
0.92 | GE | GE Aerospace | PairCorr |
0.9 | AA | Alcoa Corp | PairCorr |
0.88 | CAT | Caterpillar | PairCorr |
0.88 | JPM | JPMorgan Chase | PairCorr |
0.7 | PFE | Pfizer Inc | PairCorr |
0.67 | CVX | Chevron Corp | PairCorr |
0.37 | XOM | Exxon Mobil Corp | PairCorr |
Related Correlations Analysis
-0.15 | 0.13 | -0.2 | -0.05 | SZK | ||
-0.15 | -0.22 | 0.99 | 0.89 | SIJ | ||
0.13 | -0.22 | -0.17 | -0.13 | RXD | ||
-0.2 | 0.99 | -0.17 | 0.86 | REW | ||
-0.05 | 0.89 | -0.13 | 0.86 | SDP | ||
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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
| High negative correlations
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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 | 1.13 | (0.13) | 0.00 | (0.10) | 0.00 | 2.27 | 6.33 | |||
SIJ | 1.33 | (0.24) | 0.00 | 0.34 | 0.00 | 1.80 | 10.95 | |||
RXD | 1.81 | 0.38 | 0.00 | 0.01 | 0.00 | 4.62 | 10.09 | |||
REW | 1.80 | (0.48) | 0.00 | 0.45 | 0.00 | 2.57 | 14.15 | |||
SDP | 1.37 | (0.04) | 0.00 | 0.24 | 0.00 | 2.90 | 9.96 |