ProShares UltraShort Correlations

SDP Etf

USD 12.83 0.10 0.77%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Technology is 0.26 (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

Very good diversification

The correlation between ProShares UltraShort Utilities and DJI is -0.35 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Utilities and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

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

Moving against ProShares Etf

0.61	TAIL	Cambria Tail Risk	Pair Corr
0.39	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.53	MSFT	Microsoft	Pair Corr
0.43	GE	GE Aerospace	Pair Corr

Related Correlations Analysis

	REW	EEV	MYY	QQDN	SMDD	YXI	UBR	SPMV	SCC	EPSB
REW		0.88	0.3	0.81	0.36	0.09	-0.2	-0.47	0.39	-0.22	REW
EEV	0.88		0.12	0.75	0.19	0.22	-0.25	-0.36	0.22	-0.06	EEV
MYY	0.3	0.12		0.15	0.98	0.1	-0.11	-0.8	0.83	-0.89	MYY
QQDN	0.81	0.75	0.15		0.26	-0.07	-0.58	-0.39	0.17	0.02	QQDN
SMDD	0.36	0.19	0.98	0.26		-0.04	-0.24	-0.86	0.8	-0.9	SMDD
YXI	0.09	0.22	0.1	-0.07	-0.04		0.38	0.1	0.21	0.07	YXI
UBR	-0.2	-0.25	-0.11	-0.58	-0.24	0.38		0.37	-0.03	0.01	UBR
SPMV	-0.47	-0.36	-0.8	-0.39	-0.86	0.1	0.37		-0.64	0.8	SPMV
SCC	0.39	0.22	0.83	0.17	0.8	0.21	-0.03	-0.64		-0.78	SCC
EPSB	-0.22	-0.06	-0.89	0.02	-0.9	0.07	0.01	0.8	-0.78		EPSB
	REW	EEV	MYY	QQDN	SMDD	YXI	UBR	SPMV	SCC	EPSB

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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

SMDD	+ 0.98	MYY
EEV	+ 0.88	REW
SCC	+ 0.83	MYY
QQDN	+ 0.81	REW
SCC	+ 0.8	SMDD
EPSB	+ 0.8	SPMV

High negative correlations

EPSB	- 0.9	SMDD
EPSB	- 0.89	MYY
SPMV	- 0.86	SMDD
SPMV	- 0.8	MYY
EPSB	- 0.78	SCC
SCC	- 0.64	SPMV

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
REW	2.04	0.00	0.00	0.06	0.00	0.00	5.25	(4.06)	13.20
EEV	1.38	0.03	0.00	0.04	0.00	0.00	2.49	(2.68)	12.95
MYY	0.77	0.05	(0.07)	0.01	0.90	(0.87)	1.68	(1.76)	5.20
QQDN	1.86	0.07	0.00	0.02	0.00	0.00	4.15	(4.30)	14.44
SMDD	2.26	0.16	0.00	0.01	0.00	0.00	4.91	(5.56)	15.81
YXI	0.87	0.13	0.02	(0.09)	0.93	(0.99)	1.53	(1.56)	7.59
UBR	2.01	0.01	0.02	0.06	3.33	(1.97)	3.83	(4.22)	17.97
SPMV	0.48	(0.01)	(0.05)	0.04	0.59	(0.49)	0.99	(0.92)	3.06
SCC	1.85	0.10	0.00	0.01	0.00	0.00	4.54	(4.02)	10.85
EPSB	0.74	(0.02)	(0.02)	0.04	0.92	(0.74)	1.85	(1.46)	3.64

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