ProShares Short Correlations

SH Etf

USD 37.25 0.36 0.98%

The current 90-days correlation between ProShares Short SP500 and ProShares Ultra Financials is -0.57 (i.e., Excellent 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.

ProShares Short Correlation With Market

Pay attention - limited upside

The correlation between ProShares Short SP500 and DJI is -0.83 (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 SP500 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 Short SP500. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in census.

Moving together with ProShares Etf

0.98	PSQ	ProShares Short QQQ	Pair Corr
1.0	SPXU	ProShares UltraPro Short Aggressive Push	Pair Corr
1.0	SDS	ProShares UltraShort Aggressive Push	Pair Corr
1.0	SPXS	Direxion Daily SP	Pair Corr
0.98	QID	ProShares UltraShort QQQ	Pair Corr
0.83	RWM	ProShares Short Russ Aggressive Push	Pair Corr
1.0	SPDN	Direxion Daily SP Aggressive Push	Pair Corr
0.95	DOG	ProShares Short Dow30	Pair Corr
0.72	NFLX	Netflix	Pair Corr
0.74	VXX	iPath Series B Buyout Trend	Pair Corr
0.95	FNGD	MicroSectors FANG Index	Pair Corr
0.78	T	ATT Inc Aggressive Push	Pair Corr
0.77	VZ	Verizon Communications Sell-off Trend	Pair Corr
0.66	DIS	Walt Disney Sell-off Trend	Pair Corr
0.69	BA	Boeing	Pair Corr

Moving against ProShares Etf

0.99	VTI	Vanguard Total Stock	Pair Corr
0.94	INTL	Main International ETF	Pair Corr
0.84	EMC	Global X Funds	Pair Corr
0.8	DUKH	Ocean Park High	Pair Corr
0.94	GE	GE Aerospace	Pair Corr
0.92	IBM	International Business	Pair Corr
0.84	AA	Alcoa Corp	Pair Corr
0.81	AXP	American Express	Pair Corr
0.79	BAC	Bank of America	Pair Corr
0.68	CSCO	Cisco Systems Sell-off Trend	Pair Corr
0.68	JPM	JPMorgan Chase	Pair Corr
0.66	MMM	3M Company	Pair Corr
0.65	XOM	Exxon Mobil Corp	Pair Corr
0.6	DD	Dupont De Nemours	Pair Corr
0.52	WMT	Walmart Earnings Call This Week	Pair Corr

Related Correlations Analysis

	UYG	BITU	TAFI	BBRE	FMAY	PEY	QDTE	SPIP	OUSM	ISPY
UYG		0.5	-0.23	0.19	-0.26	0.56	-0.38	-0.17	0.75	-0.35	UYG
BITU	0.5		-0.35	-0.12	-0.36	0.65	-0.41	-0.28	0.45	-0.35	BITU
TAFI	-0.23	-0.35		0.63	0.84	-0.48	0.79	0.89	-0.33	0.79	TAFI
BBRE	0.19	-0.12	0.63		0.57	0.18	0.41	0.76	0.29	0.47	BBRE
FMAY	-0.26	-0.36	0.84	0.57		-0.42	0.97	0.75	-0.42	0.98	FMAY
PEY	0.56	0.65	-0.48	0.18	-0.42		-0.51	-0.21	0.8	-0.44	PEY
QDTE	-0.38	-0.41	0.79	0.41	0.97	-0.51		0.66	-0.54	0.99	QDTE
SPIP	-0.17	-0.28	0.89	0.76	0.75	-0.21	0.66		-0.14	0.69	SPIP
OUSM	0.75	0.45	-0.33	0.29	-0.42	0.8	-0.54	-0.14		-0.5	OUSM
ISPY	-0.35	-0.35	0.79	0.47	0.98	-0.44	0.99	0.69	-0.5		ISPY
	UYG	BITU	TAFI	BBRE	FMAY	PEY	QDTE	SPIP	OUSM	ISPY

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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

ISPY	+ 0.99	QDTE
ISPY	+ 0.98	FMAY
QDTE	+ 0.97	FMAY
SPIP	+ 0.89	TAFI
FMAY	+ 0.84	TAFI
OUSM	+ 0.8	PEY

High negative correlations

OUSM	- 0.54	QDTE
QDTE	- 0.51	PEY
ISPY	- 0.5	OUSM
PEY	- 0.48	TAFI
ISPY	- 0.44	PEY
OUSM	- 0.42	FMAY

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
UYG	1.22	(0.18)	0.00	(0.02)	0.00	0.00	2.20	(3.41)	8.88
BITU	4.24	(0.90)	0.00	(0.21)	0.00	0.00	7.70	(7.53)	20.57
TAFI	0.08	0.01	(0.66)	(0.33)	0.00	(0.11)	0.24	(0.12)	0.44
BBRE	0.68	0.00	(0.02)	0.07	0.77	(0.75)	1.55	(1.38)	4.19
FMAY	0.23	(0.01)	(0.13)	0.05	0.30	(0.24)	0.54	(0.49)	2.03
PEY	0.62	(0.13)	0.00	(0.07)	0.00	0.00	1.15	(1.07)	5.51
QDTE	0.69	0.01	0.01	0.07	0.98	(0.68)	1.38	(1.78)	4.76
SPIP	0.17	0.01	(0.27)	0.25	0.10	(0.20)	0.38	(0.27)	1.15
OUSM	0.56	(0.10)	0.00	(0.05)	0.00	0.00	1.23	(1.16)	4.04
ISPY	0.49	0.00	(0.02)	0.06	0.72	(0.48)	0.96	(1.16)	3.73

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