ProShares UltraShort Correlations

SMN Etf

USD 11.48 0.51 4.65%

The current 90-days correlation between ProShares UltraShort and Global X SAMPP is -0.5 (i.e., Very good diversification).When ProShares UltraShort exhibits high correlation with a broad index, its returns are largely explained by market-wide movements rather than company-specific drivers.

ProShares UltraShort Market Correlation

Very good diversification

SMN currently posts a -0.37 correlation with DJI, indicating a Very good diversification relationship for the active sample. In portfolio terms, the overlap visualization shows how much shared movement remains after both positions are combined.

Build portfolio with ProShares Etf

World Market Map provides context for diversified portfolio design. Such insight adds context to allocation decisions within a diversified portfolio. This reflects a position in ProShares UltraShort Basic inside the allocation mix. 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 together with ProShares Etf

0.64	AVGG	Leverage Shares 2X	Pair Corr
0.64	MDBX	Tradr 2X Long	Pair Corr
0.74	HPQ	HP Inc	Pair Corr
0.82	MSFT	Microsoft	Pair Corr
0.63	IBM	International Business	Pair Corr

Moving against ProShares Etf

0.91	EMIF	iShares Emerging Markets	Pair Corr
0.87	WMT	Walmart Common Stock	Pair Corr
0.71	GIGL	Goldman Sachs ETF	Pair Corr
0.65	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.5	PSQ	ProShares Short QQQ	Pair Corr
0.44	QID	ProShares UltraShort QQQ Aggressive Push	Pair Corr
0.34	TAIL	Cambria Tail Risk Low Volatility	Pair Corr
0.32	ELON	Battleshares TSLA	Pair Corr
0.88	PG	Procter Gamble	Pair Corr
0.86	JNJ	Johnson Johnson	Pair Corr
0.84	KO	Coca Cola	Pair Corr
0.81	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.76	CVX	Chevron Corp	Pair Corr
0.74	HD	Home Depot	Pair Corr
0.73	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.72	VZ	Verizon Communications	Pair Corr
0.48	AA	Alcoa Corp	Pair Corr
0.45	TRV	The Travelers Companies	Pair Corr
0.42	BA	Boeing	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.08	-0.01	0.24	0.02	0.12	0.04	0.28	-0.13	-0.07	META
MSFT	0.08		0.85	0.16	-0.92	0.83	0.97	0.44	-0.89	-0.95	MSFT
UBER	-0.01	0.85		0.15	-0.9	0.81	0.83	0.36	-0.76	-0.81	UBER
F	0.24	0.16	0.15		-0.21	0.55	0.1	0.46	0.0	-0.26	F
T	0.02	-0.92	-0.9	-0.21		-0.85	-0.87	-0.36	0.84	0.88	T
A	0.12	0.83	0.81	0.55	-0.85		0.79	0.62	-0.69	-0.86	A
CRM	0.04	0.97	0.83	0.1	-0.87	0.79		0.45	-0.88	-0.96	CRM
JPM	0.28	0.44	0.36	0.46	-0.36	0.62	0.45		-0.16	-0.46	JPM
MRK	-0.13	-0.89	-0.76	0.0	0.84	-0.69	-0.88	-0.16		0.88	MRK
XOM	-0.07	-0.95	-0.81	-0.26	0.88	-0.86	-0.96	-0.46	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

CRM	+ 0.97	MSFT
XOM	+ 0.88	T
XOM	+ 0.88	MRK
UBER	+ 0.85	MSFT
MRK	+ 0.84	T
A	+ 0.83	MSFT

High negative correlations

XOM	- 0.96	CRM
XOM	- 0.95	MSFT
T	- 0.92	MSFT
T	- 0.9	UBER
MRK	- 0.89	MSFT
MRK	- 0.88	CRM

ProShares UltraShort Competition Risk-Adjusted Indicators

Surface-level performance for ProShares Etf can mask how the business actually stacks up against its competitive set. Risk-adjusted metrics allow investors to compare ProShares UltraShort's efficiency and downside exposure against peers in a more meaningful way. 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	1.48	0.01	0.00	-0.08	0.00	0.00	2.33	-2.82	14.24
MSFT	1.26	-0.26	0.00	-0.63	0.00	0.00	2.19	-2.87	13.28
UBER	1.52	-0.11	0.00	-0.30	0.00	0.00	3.18	-3.60	11.09
F	1.34	-0.10	0.00	-0.18	0.00	0.00	3.61	-3.07	10.01
T	1.11	0.19	0.20	-1.16	1.17	-1.22	3.87	-1.92	8.53
A	1.26	-0.28	0.00	-0.36	0.00	0.00	2.48	-3.01	7.20
CRM	1.82	-0.38	0.00	-0.67	0.00	0.00	3.41	-4.75	9.78
JPM	1.16	-0.01	0.00	-0.10	0.00	0.00	2.02	-2.63	8.17
MRK	1.13	0.32	0.25	0.62	1.22	-1.26	2.54	-1.98	7.29
XOM	1.34	0.44	0.34	5.51	1.15	-1.54	2.90	-2.44	6.83

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