ProShares UltraShort Correlations

SCC Etf

USD 13.94 0.10 0.72%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Nasdaq is 0.39 (i.e., Weak 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.

ProShares UltraShort Correlation With Market

Excellent diversification

The correlation between ProShares UltraShort Consumer and DJI is -0.7 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Consumer and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

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

Moving together with ProShares Etf

0.63	SH	ProShares Short SP500	Pair Corr
0.75	RWM	ProShares Short Russ	Pair Corr
0.64	SPDN	Direxion Daily SP	Pair Corr
0.72	TAIL	Cambria Tail Risk	Pair Corr
0.64	DOG	ProShares Short Dow30	Pair Corr

Moving against ProShares Etf

0.85	IYJ	iShares Industrials ETF	Pair Corr
0.8	VO	Vanguard Mid Cap	Pair Corr
0.62	TOT	Advisor Managed Port	Pair Corr
0.6	VTI	Vanguard Total Stock	Pair Corr
0.54	SPY	SPDR SP 500	Pair Corr
0.54	IVV	iShares Core SP	Pair Corr
0.51	VTV	Vanguard Value Index	Pair Corr
0.5	VUG	Vanguard Growth Index	Pair Corr
0.63	DIS	Walt Disney	Pair Corr
0.52	BA	Boeing	Pair Corr
0.47	BAC	Bank of America	Pair Corr
0.42	HPQ	HP Inc	Pair Corr
0.37	AXP	American Express	Pair Corr
0.31	WMT	Walmart Common Stock	Pair Corr

Related Correlations Analysis

	BIS	SMDD	SKYU	BULG	EMTY	GLGG	CSCS	SDD	BOED	LGCF
BIS		0.2	0.57	0.91	-0.63	0.7	0.93	0.29	-0.6	-0.38	BIS
SMDD	0.2		-0.13	-0.02	0.47	0.1	0.2	0.98	0.38	-0.81	SMDD
SKYU	0.57	-0.13		0.52	-0.43	0.66	0.58	-0.04	-0.59	-0.2	SKYU
BULG	0.91	-0.02	0.52		-0.74	0.65	0.86	0.07	-0.64	-0.14	BULG
EMTY	-0.63	0.47	-0.43	-0.74		-0.64	-0.64	0.42	0.81	-0.11	EMTY
GLGG	0.7	0.1	0.66	0.65	-0.64		0.8	0.17	-0.68	-0.52	GLGG
CSCS	0.93	0.2	0.58	0.86	-0.64	0.8		0.27	-0.59	-0.47	CSCS
SDD	0.29	0.98	-0.04	0.07	0.42	0.17	0.27		0.32	-0.81	SDD
BOED	-0.6	0.38	-0.59	-0.64	0.81	-0.68	-0.59	0.32		-0.09	BOED
LGCF	-0.38	-0.81	-0.2	-0.14	-0.11	-0.52	-0.47	-0.81	-0.09		LGCF
	BIS	SMDD	SKYU	BULG	EMTY	GLGG	CSCS	SDD	BOED	LGCF

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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

SDD	+ 0.98	SMDD
CSCS	+ 0.93	BIS
BULG	+ 0.91	BIS
CSCS	+ 0.86	BULG
BOED	+ 0.81	EMTY
CSCS	+ 0.8	GLGG

High negative correlations

LGCF	- 0.81	SDD
LGCF	- 0.81	SMDD
EMTY	- 0.74	BULG
BOED	- 0.68	GLGG
CSCS	- 0.64	EMTY
GLGG	- 0.64	EMTY

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
BIS	1.72	(0.40)	0.00	0.28	0.00	0.00	2.87	(3.90)	9.06
SMDD	2.26	0.16	0.00	0.01	0.00	0.00	4.91	(5.56)	15.81
SKYU	2.20	(0.23)	0.00	(0.05)	0.00	0.00	3.88	(5.09)	12.33
BULG	5.78	(1.42)	0.00	(0.28)	0.00	0.00	9.29	(12.61)	29.64
EMTY	0.85	0.14	0.02	(0.08)	1.11	(0.87)	1.84	(2.12)	5.60
GLGG	8.62	(1.15)	0.00	(0.11)	0.00	0.00	14.65	(20.60)	48.42
CSCS	1.05	(0.18)	0.00	0.48	0.00	0.00	2.08	(1.89)	7.45
SDD	1.74	0.12	0.00	0.01	0.00	0.00	3.59	(3.95)	12.53
BOED	1.41	0.06	(0.03)	0.00	2.32	(1.42)	3.23	(2.44)	16.52
LGCF	0.56	(0.01)	(0.03)	0.04	0.72	(0.62)	1.08	(1.23)	3.23

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