ProShares UltraShort Correlations

BZQ Etf

USD 10.11 0.18 1.81%

The current 90-days correlation between ProShares UltraShort MSCI and SPDR Series Trust is -0.27 (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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares UltraShort Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraShort MSCI and DJI is -0.73 (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 MSCI and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

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

Moving together with ProShares Etf

0.76	RWM	ProShares Short Russ	Pair Corr
0.66	DOG	ProShares Short Dow30	Pair Corr
0.79	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr
0.76	ENTR	EntrepreneurShares	Pair Corr

Moving against ProShares Etf

0.95	DIG	ProShares Ultra Oil	Pair Corr
0.94	MLPR	ETRACS Quarterly Pay	Pair Corr
0.92	DGP	DB Gold Double	Pair Corr
0.9	UGL	ProShares Ultra Gold	Pair Corr
0.83	NUGT	Direxion Daily Gold	Pair Corr
0.75	DFEN	Direxion Daily Aerospace	Pair Corr
0.62	USD	ProShares Ultra Semi	Pair Corr
0.38	PSQ	ProShares Short QQQ	Pair Corr
0.95	MEXX	Direxion Daily MSCI	Pair Corr
0.94	DISV	Dimensional ETF Trust	Pair Corr
0.94	VYMI	Vanguard International	Pair Corr
0.94	PID	Invesco International	Pair Corr
0.94	STXV	EA Series Trust	Pair Corr
0.93	VDC	Vanguard Consumer Staples	Pair Corr
0.92	DFE	WisdomTree Europe	Pair Corr
0.91	DUSL	Direxion Daily Indus	Pair Corr
0.89	TAXT	Northern Trust Tax	Pair Corr
0.89	RHRX	Starboard Investment	Pair Corr
0.89	ERET	iShares Environmentally	Pair Corr
0.88	IJS	iShares SP Small	Pair Corr
0.86	AHYB	American Century ETF	Pair Corr
0.85	URA	Global X Uranium	Pair Corr
0.83	ETHO	Amplify Etho Climate	Pair Corr
0.82	PSMR	Pacer Swan SOS	Pair Corr
0.73	DOO	BRP Inc Symbol Change	Pair Corr
0.98	DVYE	iShares Emerging Markets	Pair Corr
0.95	FEM	First Trust Emerging	Pair Corr
0.94	AVDS	Avantis International	Pair Corr
0.93	DFIC	Dimensional International	Pair Corr

Related Correlations Analysis

	TYO	BFIX	SUPP	SIMS	QQQS	FIXP	IBAT	SPDG
TYO		0.24	-0.14	0.25	0.4	0.45	-0.01	0.18	TYO
BFIX	0.24		0.83	0.73	0.7	0.87	0.87	0.92	BFIX
SUPP	-0.14	0.83		0.82	0.64	0.65	0.95	0.86	SUPP
SIMS	0.25	0.73	0.82		0.8	0.67	0.83	0.79	SIMS
QQQS	0.4	0.7	0.64	0.8		0.83	0.66	0.63	QQQS
FIXP	0.45	0.87	0.65	0.67	0.83		0.68	0.77	FIXP
IBAT	-0.01	0.87	0.95	0.83	0.66	0.68		0.9	IBAT
SPDG	0.18	0.92	0.86	0.79	0.63	0.77	0.9		SPDG
	TYO	BFIX	SUPP	SIMS	QQQS	FIXP	IBAT	SPDG

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

IBAT	+ 0.95	SUPP
SPDG	+ 0.92	BFIX
SPDG	+ 0.9	IBAT
FIXP	+ 0.87	BFIX
IBAT	+ 0.87	BFIX
SPDG	+ 0.86	SUPP

High negative correlations

SUPP	- 0.14	TYO
IBAT	- 0.01	TYO

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
TYO	0.55	(0.03)	0.00	(0.95)	0.00	0.00	1.17	(1.31)	3.13
BFIX	0.14	0.01	(0.34)	0.18	0.02	(0.16)	0.36	(0.28)	1.11
SUPP	0.82	0.09	0.08	0.17	0.88	(0.93)	1.58	(1.40)	5.52
SIMS	1.08	0.05	0.05	0.12	1.33	(1.12)	2.19	(2.27)	7.62
QQQS	1.12	0.08	0.09	0.14	1.14	(1.29)	2.60	(2.04)	6.77
FIXP	0.11	0.01	(0.36)	0.17	0.00	(0.14)	0.20	(0.15)	0.75
IBAT	1.07	0.28	0.20	0.36	1.04	(1.22)	2.70	(2.22)	6.16
SPDG	0.56	0.10	0.11	0.20	0.50	(0.61)	1.49	(1.24)	3.71

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