ProShares UltraShort Correlations

QQDN Etf

28.58 0.00 0.00%

The current 90-days correlation between ProShares UltraShort Top and City Different Investments is -0.55 (i.e., Excellent diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraShort moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraShort Top moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Very weak diversification

The correlation between ProShares UltraShort Top and DJI is 0.47 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Top 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 UltraShort Top. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in small area income & poverty estimates.

Moving together with ProShares Etf

0.72	PSQ	ProShares Short QQQ	Pair Corr
0.63	QID	ProShares UltraShort QQQ	Pair Corr
0.65	BND	Vanguard Total Bond	Pair Corr
0.71	VTV	Vanguard Value Index	Pair Corr
0.76	XFIX	Fm Investments Symbol Change	Pair Corr
0.75	TAXT	Northern Trust Tax	Pair Corr
0.75	BSMS	Invesco BulletShares 2028	Pair Corr
0.76	UDI	USCF ETF Trust	Pair Corr
0.76	REGL	ProShares SP MidCap	Pair Corr
0.67	EWT	iShares MSCI Taiwan	Pair Corr
0.74	DFSD	Dimensional ETF Trust	Pair Corr
0.67	WLDR	Affinity World Leaders	Pair Corr
0.7	CCNR	CoreCommodity Natural	Pair Corr
0.79	LVHI	Franklin International	Pair Corr
0.71	FNDC	Schwab Fundamental	Pair Corr
0.71	TERG	Leverage Shares 2X	Pair Corr
0.64	EURL	Direxion Daily FTSE	Pair Corr

Moving against ProShares Etf

0.9	VUG	Vanguard Growth Index	Pair Corr
0.42	IRE	Tidal Trust II Potential Growth	Pair Corr
0.4	DOG	ProShares Short Dow30	Pair Corr
0.39	RWM	ProShares Short Russ	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		-0.29	-0.34	0.39	0.14	-0.42	-0.06	0.36	0.36	0.35	META
MSFT	-0.29		0.82	-0.6	-0.77	0.76	0.87	0.08	-0.88	-0.93	MSFT
UBER	-0.34	0.82		-0.55	-0.65	0.82	0.65	-0.07	-0.8	-0.8	UBER
F	0.39	-0.6	-0.55		0.23	-0.5	-0.35	0.26	0.75	0.65	F
T	0.14	-0.77	-0.65	0.23		-0.55	-0.81	-0.16	0.59	0.68	T
A	-0.42	0.76	0.82	-0.5	-0.55		0.59	-0.01	-0.68	-0.81	A
CRM	-0.06	0.87	0.65	-0.35	-0.81	0.59		0.43	-0.69	-0.85	CRM
JPM	0.36	0.08	-0.07	0.26	-0.16	-0.01	0.43		0.2	-0.11	JPM
MRK	0.36	-0.88	-0.8	0.75	0.59	-0.68	-0.69	0.2		0.88	MRK
XOM	0.35	-0.93	-0.8	0.65	0.68	-0.81	-0.85	-0.11	0.88		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

XOM	+ 0.88	MRK
CRM	+ 0.87	MSFT
UBER	+ 0.82	MSFT
A	+ 0.82	UBER
A	+ 0.76	MSFT
MRK	+ 0.75	F

High negative correlations

XOM	- 0.93	MSFT
MRK	- 0.88	MSFT
XOM	- 0.85	CRM
XOM	- 0.81	A
CRM	- 0.81	T
XOM	- 0.8	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	1.50	0.07	0.03	0.16	1.44	(1.78)	3.43	(2.60)	13.69
MSFT	1.29	(0.39)	0.00	(1.03)	0.00	0.00	1.90	(2.74)	13.28
UBER	1.56	(0.35)	0.00	(0.63)	0.00	0.00	2.46	(3.82)	11.09
F	1.22	0.05	0.03	0.13	1.21	(1.46)	3.34	(2.30)	7.16
T	1.00	0.15	0.07	(19.14)	0.94	(1.16)	3.87	(1.76)	7.44
A	1.26	(0.35)	0.00	(0.21)	0.00	0.00	2.90	(2.72)	7.85
CRM	1.69	(0.47)	0.00	(0.39)	0.00	0.00	2.94	(4.75)	12.37
JPM	1.20	(0.06)	(0.02)	0.03	1.61	(1.29)	2.34	(2.63)	7.38
MRK	1.27	0.38	0.26	0.64	0.97	(1.50)	2.93	(1.98)	8.74
XOM	1.29	0.31	0.18	1.25	1.17	(1.46)	2.90	(2.44)	6.83

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