ProShares Short Correlations

SVXY Etf

USD 50.13 0.24 0.48%

The current 90-days correlation between ProShares Short VIX and ProShares Ultra VIX is 0.35 (i.e., Weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Short Correlation With Market

Average diversification

The correlation between ProShares Short VIX and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short VIX 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 VIX. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in services.

Moving together with ProShares Etf

0.75	YCS	ProShares UltraShort Yen	Pair Corr
0.93	CEFD	ETRACS Monthly Pay	Pair Corr
0.81	USD	ProShares Ultra Semi	Pair Corr
0.92	ETHE	Grayscale Ethereum Trust	Pair Corr
0.82	DFEN	Direxion Daily Aerospace	Pair Corr
0.86	FNGO	MicroSectors FANG Index	Pair Corr
0.84	PGJ	Invesco Golden Dragon	Pair Corr
0.72	ARKW	ARK Next Generation	Pair Corr
0.92	VYM	Vanguard High Dividend Sell-off Trend	Pair Corr
0.91	FNDX	Schwab Fundamental Large	Pair Corr
0.86	IDX	VanEck Indonesia Index	Pair Corr
0.95	FXED	Tidal ETF Trust	Pair Corr
0.92	SBIO	ALPS Medical Breakth	Pair Corr
0.77	NVDW	Roundhill ETF Trust Symbol Change	Pair Corr

Moving against ProShares Etf

0.97	VXX	iPath Series B	Pair Corr
0.97	VIXY	ProShares VIX Short	Pair Corr
0.82	VIXM	ProShares VIX Mid	Pair Corr
0.74	VXZ	iPath Series B	Pair Corr
0.41	FNGU	MicroSectors FANG Index Symbol Change	Pair Corr

Related Correlations Analysis

	UVXY	VIXY	VXX	DUST	LABD
UVXY		1.0	1.0	0.81	0.9	UVXY
VIXY	1.0		1.0	0.83	0.9	VIXY
VXX	1.0	1.0		0.83	0.9	VXX
DUST	0.81	0.83	0.83		0.78	DUST
LABD	0.9	0.9	0.9	0.78		LABD
	UVXY	VIXY	VXX	DUST	LABD

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
UVXY	2.89	(1.05)	(0.55)	4.56	(9.91)	25.12
VIXY	1.92	(0.70)	(0.59)	3.09	(6.77)	15.74
VXX	1.94	(0.69)	(0.56)	3.09	(6.51)	16.50
DUST	2.81	(0.71)	(3.94)	5.24	(6.01)	18.76
LABD	3.03	(0.57)	4.66	5.96	(6.35)	17.92

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