ProShares UltraShort Correlations

MZZ Etf

USD 7.92 0.16 2.06%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort MSCI is 0.12 (i.e., Average 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 MidCap400 and DJI is -0.82 (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 MidCap400 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort MidCap400. 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

0.75	SH	ProShares Short SP500	Pair Corr
0.77	SPXU	ProShares UltraPro Short	Pair Corr
0.77	SDS	ProShares UltraShort	Pair Corr
0.77	SPXS	Direxion Daily SP	Pair Corr
0.92	RWM	ProShares Short Russ Aggressive Push	Pair Corr
0.75	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.83	TAIL	Cambria Tail Risk	Pair Corr
0.81	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.75	UPRO	ProShares UltraPro SP500	Pair Corr
0.75	SPXL	Direxion Daily SP500	Pair Corr
0.59	SMH	VanEck Semiconductor ETF	Pair Corr
0.51	QLD	ProShares Ultra QQQ	Pair Corr
0.33	ROM	ProShares Ultra Tech	Pair Corr
0.91	SCZ	iShares MSCI EAFE	Pair Corr
0.87	GTR	WisdomTree Target Range	Pair Corr
0.85	ITDJ	iShares Trust	Pair Corr
0.82	CSD	Invesco SP Spin	Pair Corr
0.77	VOO	Vanguard SP 500	Pair Corr
0.76	QLC	FlexShares Quality Large	Pair Corr
0.74	SIL	Global X Silver	Pair Corr
0.73	CPER	United States Copper	Pair Corr
0.72	PSI	Invesco Dynamic Semi	Pair Corr
0.64	GBUG	Sprott Active Gold	Pair Corr
0.6	SOXX	iShares Semiconductor ETF	Pair Corr
0.51	ZSB	USCF Sustainable Battery	Pair Corr
0.49	FSST	Fidelity Sustainability	Pair Corr
0.47	QQH	HCM Defender 100	Pair Corr
0.45	JADE	JP Morgan Exchange	Pair Corr
0.39	REMX	VanEck Rare EarthStr	Pair Corr
0.37	ECOW	Pacer Emerging Markets	Pair Corr
0.93	QULL	ETRACS 2x Leveraged	Pair Corr
0.91	SMLV	SPDR SSGA Small	Pair Corr
0.9	FLCV	Federated Hermes ETF	Pair Corr
0.86	SIXS	6 Meridian Small	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.67	0.49	-0.57	0.45	-0.48	0.23	-0.19	-0.48	-0.58	META
MSFT	0.67		0.84	-0.54	0.4	-0.16	0.01	-0.36	-0.79	-0.62	MSFT
UBER	0.49	0.84		-0.59	0.55	-0.11	-0.23	-0.39	-0.86	-0.63	UBER
F	-0.57	-0.54	-0.59		-0.66	0.38	0.33	0.49	0.65	0.76	F
T	0.45	0.4	0.55	-0.66		-0.28	-0.57	-0.34	-0.46	-0.51	T
A	-0.48	-0.16	-0.11	0.38	-0.28		-0.3	-0.3	0.24	0.12	A
CRM	0.23	0.01	-0.23	0.33	-0.57	-0.3		0.47	0.18	0.27	CRM
JPM	-0.19	-0.36	-0.39	0.49	-0.34	-0.3	0.47		0.47	0.5	JPM
MRK	-0.48	-0.79	-0.86	0.65	-0.46	0.24	0.18	0.47		0.71	MRK
XOM	-0.58	-0.62	-0.63	0.76	-0.51	0.12	0.27	0.5	0.71		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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

UBER	+ 0.84	MSFT
XOM	+ 0.76	F
XOM	+ 0.71	MRK
MSFT	+ 0.67	META
MRK	+ 0.65	F
T	+ 0.55	UBER

High negative correlations

MRK	- 0.86	UBER
MRK	- 0.79	MSFT
T	- 0.66	F
XOM	- 0.63	UBER
XOM	- 0.62	MSFT
F	- 0.59	UBER

ProShares UltraShort Competition 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
META	1.38	(0.21)	0.00	(0.16)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.88	(0.11)	0.00	(0.12)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.47	(0.33)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.46	0.09	0.06	0.13	1.68	(1.60)	3.38	(2.63)	16.30
T	0.96	(0.20)	0.00	(0.72)	0.00	0.00	1.61	(2.18)	5.75
A	1.19	0.11	0.08	0.16	1.20	(1.33)	2.34	(2.21)	11.03
CRM	1.50	0.09	0.04	0.15	1.90	(1.49)	3.66	(2.92)	9.91
JPM	1.06	(0.03)	(0.01)	0.03	1.42	(1.11)	2.00	(1.91)	7.02
MRK	1.41	0.43	0.32	0.58	0.96	(1.81)	4.85	(1.98)	11.45
XOM	0.92	0.05	0.00	0.28	0.98	(0.99)	1.96	(1.51)	4.99

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC