ProShares Short Correlations

SH Etf

USD 36.28 0.04 0.11%

The current 90-days correlation between ProShares Short SP500 and FT Vest Equity is -0.93 (i.e., Pay attention - limited upside). The correlation of ProShares Short 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 Short Correlation With Market

Pay attention - limited upside

The correlation between ProShares Short SP500 and DJI is -0.83 (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 Short SP500 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 Short SP500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in rate.

Moving together with ProShares Etf

0.97	PSQ	ProShares Short QQQ	Pair Corr
0.99	SPXU	ProShares UltraPro Short	Pair Corr
0.99	SDS	ProShares UltraShort	Pair Corr
0.99	SPXS	Direxion Daily SP	Pair Corr
0.96	QID	ProShares UltraShort QQQ	Pair Corr
0.73	RWM	ProShares Short Russ	Pair Corr
1.0	SPDN	Direxion Daily SP Sell-off Trend	Pair Corr
0.94	DOG	ProShares Short Dow30 Sell-off Trend	Pair Corr

Moving against ProShares Etf

0.99	VTI	Vanguard Total Stock	Pair Corr
0.98	SPY	SPDR SP 500	Pair Corr
0.98	IVV	iShares Core SP	Pair Corr
0.97	VUG	Vanguard Growth Index	Pair Corr
0.79	VTV	Vanguard Value Index Sell-off Trend	Pair Corr
0.55	VO	Vanguard Mid Cap	Pair Corr
0.48	BND	Vanguard Total Bond Sell-off Trend	Pair Corr
0.97	DSI	iShares MSCI KLD	Pair Corr
0.95	JUST	Goldman Sachs JUST	Pair Corr
0.92	GJUN	First Trust Exchange	Pair Corr
0.91	GMAY	First Trust Exchange	Pair Corr
0.89	VEA	Vanguard FTSE Developed	Pair Corr
0.86	IGPT	Invesco Dynamic Software	Pair Corr
0.86	IDEV	iShares Core MSCI	Pair Corr
0.84	TVAL	T Rowe Price	Pair Corr
0.83	VWO	Vanguard FTSE Emerging	Pair Corr
0.82	VGK	Vanguard FTSE Europe	Pair Corr
0.78	DIHP	Dimensional International	Pair Corr
0.7	ICLN	iShares Global Clean	Pair Corr
0.68	SIXD	AIM ETF Products	Pair Corr
0.64	SPVU	Invesco SP 500	Pair Corr
0.59	TLTW	iShares Trust	Pair Corr
0.57	VB	Vanguard Small Cap	Pair Corr
0.52	VPU	Vanguard Utilities Index	Pair Corr
0.99	USCL	iShares Climate Conscious	Pair Corr
0.99	FEBU	AllianzIM Equity Buffer15	Pair Corr
0.98	SEPU	AllianzIM Equity Buffer15	Pair Corr
0.94	QDTE	Roundhill ETF Trust	Pair Corr
0.94	SPYI	SHP ETF Trust	Pair Corr
0.9	QBIG	Invesco Top QQQ	Pair Corr

Related Correlations Analysis

	DHDG	MBCC	DHLX	DIHP	MCDS	MCHS	DINT	DISV	DIVE
DHDG		0.07	-0.4	0.83	0.24	-0.21	0.52	0.69	-0.34	DHDG
MBCC	0.07		0.56	0.31	0.66	0.71	0.62	0.36	0.49	MBCC
DHLX	-0.4	0.56		-0.06	0.72	0.52	0.09	0.23	0.9	DHLX
DIHP	0.83	0.31	-0.06		0.47	-0.01	0.59	0.88	-0.01	DIHP
MCDS	0.24	0.66	0.72	0.47		0.42	0.45	0.65	0.72	MCDS
MCHS	-0.21	0.71	0.52	-0.01	0.42		0.65	0.16	0.33	MCHS
DINT	0.52	0.62	0.09	0.59	0.45	0.65		0.57	-0.08	DINT
DISV	0.69	0.36	0.23	0.88	0.65	0.16	0.57		0.29	DISV
DIVE	-0.34	0.49	0.9	-0.01	0.72	0.33	-0.08	0.29		DIVE
	DHDG	MBCC	DHLX	DIHP	MCDS	MCHS	DINT	DISV	DIVE

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

DIVE	+ 0.9	DHLX
DISV	+ 0.88	DIHP
DIHP	+ 0.83	DHDG
MCDS	+ 0.72	DHLX
DIVE	+ 0.72	MCDS
MCHS	+ 0.71	MBCC

High negative correlations

DHLX	- 0.4	DHDG
DIVE	- 0.34	DHDG
MCHS	- 0.21	DHDG
DIVE	- 0.08	DINT
DIHP	- 0.06	DHLX
DIVE	- 0.01	DIHP

ProShares Short Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Short 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 Short'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
DHDG	0.22	0.02	(0.05)	0.13	0.17	(0.26)	0.73	(0.57)	1.64
MBCC	0.53	(0.05)	(0.08)	0.00	0.83	(0.46)	0.90	(1.25)	2.75
DHLX	0.58	(0.05)	0.00	(0.02)	0.00	0.00	1.03	(1.38)	2.41
DIHP	0.56	0.02	0.00	0.10	0.61	(0.59)	1.01	(1.06)	2.70
MCDS	0.61	(0.05)	(0.06)	0.02	0.82	(0.60)	1.35	(1.28)	4.09
MCHS	0.85	0.00	(0.01)	0.07	1.23	(0.88)	2.01	(1.61)	7.05
DINT	0.73	0.04	0.03	0.11	1.05	(0.73)	1.36	(1.95)	4.48
DISV	0.62	0.05	0.04	0.14	0.64	(0.70)	1.18	(1.28)	3.05
DIVE	0.56	(0.03)	(0.05)	0.03	0.87	(0.56)	1.33	(1.24)	4.47

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