ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short QQQ
PSQ Etf  USD 35.62  0.46  1.31%   
The current 90-days correlation between ProShares Short QQQ and ProShares Short SP500 is 0.99 (i.e., No risk reduction). 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

Pay attention - limited upside

The correlation between ProShares Short QQQ and DJI is -0.95 (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 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 state.

Moving together with ProShares Etf

  0.99SH ProShares Short SP500PairCorr
  0.99SPXU ProShares UltraPro ShortPairCorr
  0.99SDS ProShares UltraShortPairCorr
  0.99SPXS Direxion Daily SPPairCorr
  0.99QID ProShares UltraShort QQQPairCorr
  0.91RWM ProShares Short RussPairCorr
  0.98SPDN Direxion Daily SPPairCorr
  0.88DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.99FNGO MicroSectors FANG IndexPairCorr
  0.99FNGG Direxion Daily SelectPairCorr
  0.98FNGS MicroSectors FANG ETNPairCorr
  0.92USD ProShares Ultra SemiPairCorr
  0.92CRPT First Trust SkyBridgePairCorr
  0.9DFEN Direxion Daily AerospacePairCorr
  0.89GBTC Grayscale Bitcoin TrustPairCorr
  0.89BITO ProShares BitcoinPairCorr
  0.96BA BoeingPairCorr
  0.96JPM JPMorgan ChasePairCorr
  0.95MSFT Microsoft Aggressive PushPairCorr
  0.92AXP American ExpressPairCorr
  0.9CSCO Cisco SystemsPairCorr
  0.9IBM International Business Sell-off TrendPairCorr
  0.88CAT CaterpillarPairCorr
  0.85TRV The Travelers CompaniesPairCorr
  0.83HD Home DepotPairCorr
  0.7WMT WalmartPairCorr
  0.5T ATT Inc Sell-off TrendPairCorr
  0.41HPQ HP IncPairCorr

Related Correlations Analysis

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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.

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