PROSHARES ULTRASHORT Correlations

SKK Etf

USD 0.33 0.02 6.45%

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 RUSSELL moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

PROSHARES ULTRASHORT Correlation With Market

Modest diversification

The correlation between PROSHARES ULTRASHORT RUSSELL and DJI is 0.21 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding PROSHARES ULTRASHORT RUSSELL 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 RUSSELL. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in board of governors.

Moving against PROSHARES Etf

0.85	SSEHF	SSgA SPDR ETFs	Pair Corr
0.81	HGER	Harbor All Weather	Pair Corr
0.79	MULL	GraniteShares 2x Long	Pair Corr
0.71	KORU	Direxion Daily South	Pair Corr
0.71	VCRM	VCRM	Pair Corr
0.7	MMIN	IQ MacKay Municipal	Pair Corr
0.68	XIJN	FT Vest Equity	Pair Corr
0.63	SHNY	Microsectors Gold	Pair Corr
0.6	FJAN	First Trust Exchange	Pair Corr
0.56	GGOV	BlackRock ETF Trust	Pair Corr
0.55	DZZ	DB Gold Double	Pair Corr
0.55	GEM	Goldman Sachs ActiveBeta	Pair Corr
0.55	PRSD	SSGA Active Trust	Pair Corr
0.54	QHY	WisdomTree Short Term	Pair Corr
0.52	OVLH	Overlay Shares Hedged	Pair Corr
0.47	VOO	Vanguard SP 500	Pair Corr
0.46	EEMV	iShares MSCI Emerging	Pair Corr
0.46	VIG	Vanguard Dividend	Pair Corr
0.46	ZHDG	ZEGA Buy	Pair Corr
0.4	SCHG	Schwab Large Cap	Pair Corr
0.4	AVLC	American Century ETF	Pair Corr
0.4	FSMB	First Trust Short	Pair Corr
0.39	JHML	John Hancock Multifactor	Pair Corr
0.31	NUGT	Direxion Daily Gold	Pair Corr
0.87	LABU	Direxion Daily SP	Pair Corr
0.87	LVHI	Franklin International	Pair Corr
0.84	ELIL	Direxion Daily LLY	Pair Corr
0.81	RB	ProShares Trust	Pair Corr
0.8	AAPY	Kurv Yield Premium	Pair Corr
0.8	EKG	First Trust Nasdaq	Pair Corr
0.73	CPSN	Calamos ETF Trust	Pair Corr
0.72	APRJ	Innovator Premium Income	Pair Corr
0.7	CA	Xtrackers California	Pair Corr
0.66	NVIR	Listed Funds Trust	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.54	0.62	-0.76	0.71	-0.75	0.43	-0.14	-0.69	-0.68	META
MSFT	0.54		0.78	-0.17	-0.04	-0.2	0.64	0.14	-0.57	-0.31	MSFT
UBER	0.62	0.78		-0.41	0.29	-0.57	0.53	0.33	-0.78	-0.41	UBER
F	-0.76	-0.17	-0.41		-0.74	0.8	-0.16	0.24	0.66	0.74	F
T	0.71	-0.04	0.29	-0.74		-0.88	0.01	-0.11	-0.5	-0.5	T
A	-0.75	-0.2	-0.57	0.8	-0.88		-0.19	0.01	0.77	0.54	A
CRM	0.43	0.64	0.53	-0.16	0.01	-0.19		-0.12	-0.56	-0.37	CRM
JPM	-0.14	0.14	0.33	0.24	-0.11	0.01	-0.12		-0.08	0.29	JPM
MRK	-0.69	-0.57	-0.78	0.66	-0.5	0.77	-0.56	-0.08		0.55	MRK
XOM	-0.68	-0.31	-0.41	0.74	-0.5	0.54	-0.37	0.29	0.55		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Please upgrade your account to get full access to Macroaxis premium features

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

A	+ 0.8	F
UBER	+ 0.78	MSFT
MRK	+ 0.77	A
XOM	+ 0.74	F
T	+ 0.71	META
MRK	+ 0.66	F

High negative correlations

A	- 0.88	T
MRK	- 0.78	UBER
F	- 0.76	META
A	- 0.75	META
T	- 0.74	F
MRK	- 0.69	META

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	1.32	(0.27)	0.00	(0.20)	0.00	0.00	2.18	(2.72)	13.52
MSFT	0.92	(0.14)	0.00	(0.12)	0.00	0.00	1.85	(2.50)	5.08
UBER	1.49	(0.11)	0.00	(0.02)	0.00	0.00	3.55	(3.30)	10.91
F	1.48	0.17	0.06	1.37	1.65	(1.71)	3.38	(2.35)	16.30
T	0.98	(0.23)	0.00	(0.49)	0.00	0.00	1.84	(2.32)	6.25
A	1.27	0.19	0.14	0.24	1.19	(1.38)	2.60	(2.21)	11.03
CRM	1.63	(0.16)	0.00	(0.07)	0.00	0.00	3.22	(3.61)	9.91
JPM	0.94	(0.02)	(0.01)	0.06	1.29	(0.91)	1.69	(1.91)	5.76
MRK	1.37	0.23	0.16	0.37	1.12	(1.79)	4.84	(2.60)	11.45
XOM	0.96	0.04	(0.02)	0.30	1.14	(0.92)	1.78	(1.93)	4.63

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC