ProShares Short Correlations

PSQ Etf

USD 29.72 0.01 0.03%

The current 90-days correlation between ProShares Short QQQ and ProShares UltraPro Short is 0.96 (i.e., Almost no diversification). 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Short Correlation With Market

Good diversification

The correlation between ProShares Short QQQ and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short QQQ and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Short QQQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in real.

Moving together with ProShares Etf

0.94	SH	ProShares Short SP500 Potential Growth	Pair Corr
0.91	SPXU	ProShares UltraPro Short	Pair Corr
0.92	SDS	ProShares UltraShort	Pair Corr
0.91	SPXS	Direxion Daily SP	Pair Corr
0.99	QID	ProShares UltraShort QQQ	Pair Corr
0.94	SPDN	Direxion Daily SP Potential Growth	Pair Corr
0.72	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

1.0	QLD	ProShares Ultra QQQ Sell-off Trend	Pair Corr
0.93	UPRO	ProShares UltraPro SP500 Sell-off Trend	Pair Corr
0.93	SPXL	Direxion Daily SP500 Sell-off Trend	Pair Corr
0.91	ROM	ProShares Ultra Tech	Pair Corr
0.9	SMH	VanEck Semiconductor ETF	Pair Corr
0.87	USD	ProShares Ultra Semi	Pair Corr
0.87	TECL	Direxion Daily Technology	Pair Corr
0.99	QQH	HCM Defender 100	Pair Corr
0.84	JADE	JP Morgan Exchange	Pair Corr
0.83	GTR	WisdomTree Target Range	Pair Corr
0.81	ITDJ	iShares Trust	Pair Corr
0.79	PSI	Invesco Dynamic Semi	Pair Corr
0.69	QLC	FlexShares Quality Large	Pair Corr
0.66	VOO	Vanguard SP 500	Pair Corr
0.62	SOXX	iShares Semiconductor ETF Sell-off Trend	Pair Corr
0.61	CSD	Invesco SP Spin	Pair Corr
0.61	ECOW	Pacer Emerging Markets	Pair Corr
0.49	SCZ	iShares MSCI EAFE	Pair Corr
0.44	CPER	United States Copper Buyout Trend	Pair Corr
0.32	ZSB	USCF Sustainable Battery	Pair Corr
0.31	FSST	Fidelity Sustainability	Pair Corr
0.9	AGEM	abrdn Emerging Markets	Pair Corr
0.89	GUSA	Goldman Sachs MarketBeta	Pair Corr
0.73	FFLG	Fidelity Covington Trust Low Volatility	Pair Corr
0.73	QQQM	Invesco NASDAQ 100	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.66	0.53	-0.61	0.51	-0.55	0.22	-0.16	-0.53	-0.6	META
MSFT	0.66		0.83	-0.52	0.37	-0.19	0.05	-0.34	-0.77	-0.61	MSFT
UBER	0.53	0.83		-0.61	0.56	-0.23	-0.18	-0.32	-0.85	-0.6	UBER
F	-0.61	-0.52	-0.61		-0.69	0.49	0.32	0.44	0.68	0.75	F
T	0.51	0.37	0.56	-0.69		-0.45	-0.53	-0.26	-0.51	-0.48	T
A	-0.55	-0.19	-0.23	0.49	-0.45		-0.2	-0.27	0.4	0.19	A
CRM	0.22	0.05	-0.18	0.32	-0.53	-0.2		0.41	0.11	0.2	CRM
JPM	-0.16	-0.34	-0.32	0.44	-0.26	-0.27	0.41		0.38	0.44	JPM
MRK	-0.53	-0.77	-0.85	0.68	-0.51	0.4	0.11	0.38		0.66	MRK
XOM	-0.6	-0.61	-0.6	0.75	-0.48	0.19	0.2	0.44	0.66		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

UBER	+ 0.83	MSFT
XOM	+ 0.75	F
MRK	+ 0.68	F
MSFT	+ 0.66	META
XOM	+ 0.66	MRK
T	+ 0.56	UBER

High negative correlations

MRK	- 0.85	UBER
MRK	- 0.77	MSFT
T	- 0.69	F
F	- 0.61	UBER
XOM	- 0.61	MSFT
F	- 0.61	META

ProShares Short Competition 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
META	1.38	(0.27)	0.00	(0.20)	0.00	0.00	2.30	(2.72)	13.52
MSFT	0.90	(0.11)	0.00	(0.11)	0.00	0.00	1.78	(2.50)	5.08
UBER	1.46	(0.35)	0.00	(0.25)	0.00	0.00	2.60	(3.82)	10.51
F	1.51	0.13	0.08	0.16	1.68	(1.65)	3.38	(2.63)	16.30
T	0.95	(0.22)	0.00	(0.71)	0.00	0.00	1.61	(2.18)	5.75
A	1.23	0.08	0.06	0.15	1.26	(1.33)	2.34	(2.21)	11.03
CRM	1.54	0.05	0.03	0.13	1.98	(1.51)	3.66	(2.92)	9.91
JPM	1.05	(0.02)	0.00	0.06	1.39	(1.07)	2.00	(1.91)	7.02
MRK	1.44	0.40	0.28	0.54	1.07	(1.80)	4.85	(2.06)	11.45
XOM	0.94	0.05	(0.01)	0.28	0.98	(1.01)	1.96	(1.51)	4.99

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