ProShares Short Correlations

DOG Etf

USD 25.12 0.10 0.40%

The current 90-days correlation between ProShares Short Dow30 and ProShares Short QQQ is -0.19 (i.e., Good 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

Good diversification

The correlation between ProShares Short Dow30 and DJI is -0.05 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short Dow30 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Short Dow30. 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

0.84	SH	ProShares Short SP500	Pair Corr
0.84	PSQ	ProShares Short QQQ Sell-off Trend	Pair Corr
0.97	SPXU	ProShares UltraPro Short	Pair Corr
0.84	SDS	ProShares UltraShort	Pair Corr
0.97	SPXS	Direxion Daily SP	Pair Corr
0.83	QID	ProShares UltraShort QQQ	Pair Corr
0.85	RWM	ProShares Short Russ	Pair Corr
0.84	SPDN	Direxion Daily SP	Pair Corr
0.88	TAIL	Cambria Tail Risk	Pair Corr

Moving against ProShares Etf

0.84	ITDD	iShares Trust	Pair Corr
0.65	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.63	AXP	American Express	Pair Corr
0.53	PMBS	PIMCO Mortgage Backed	Pair Corr
0.71	CAT	Caterpillar	Pair Corr
0.67	BAC	Bank of America	Pair Corr
0.67	CVX	Chevron Corp Earnings Call This Week	Pair Corr
0.65	AA	Alcoa Corp	Pair Corr
0.64	DD	Dupont De Nemours Earnings Call Tomorrow	Pair Corr
0.58	IBM	International Business	Pair Corr
0.57	MSFT	Microsoft Earnings Call This Week	Pair Corr
0.5	XOM	Exxon Mobil Corp Earnings Call This Week	Pair Corr
0.48	JNJ	Johnson Johnson	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.97	0.78	0.77	0.48	0.9	-0.04	0.91	0.21	0.52	META
MSFT	0.97		0.81	0.82	0.44	0.84	-0.05	0.94	0.25	0.51	MSFT
UBER	0.78	0.81		0.87	0.31	0.74	0.33	0.82	0.17	0.44	UBER
F	0.77	0.82	0.87		0.32	0.78	0.0	0.88	0.44	0.69	F
T	0.48	0.44	0.31	0.32		0.51	-0.05	0.42	0.27	0.17	T
A	0.9	0.84	0.74	0.78	0.51		-0.04	0.84	0.38	0.65	A
CRM	-0.04	-0.05	0.33	0.0	-0.05	-0.04		-0.1	-0.43	-0.31	CRM
JPM	0.91	0.94	0.82	0.88	0.42	0.84	-0.1		0.36	0.6	JPM
MRK	0.21	0.25	0.17	0.44	0.27	0.38	-0.43	0.36		0.54	MRK
XOM	0.52	0.51	0.44	0.69	0.17	0.65	-0.31	0.6	0.54		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

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

MSFT	+ 0.97	META
JPM	+ 0.94	MSFT
JPM	+ 0.91	META
A	+ 0.9	META
JPM	+ 0.88	F
F	+ 0.87	UBER

High negative correlations

MRK	- 0.43	CRM
XOM	- 0.31	CRM
JPM	- 0.1	CRM
CRM	- 0.05	T
CRM	- 0.05	MSFT
CRM	- 0.04	A

ProShares Short Competition 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
META	1.39	0.29	0.29	0.42	0.62	(1.71)	3.99	(1.93)	10.48
MSFT	0.79	0.37	0.52	0.73	0.00	(1.01)	2.33	(0.94)	8.85
UBER	1.54	0.10	0.08	0.29	1.36	(1.91)	4.19	(2.02)	10.87
F	1.28	0.10	0.05	0.31	1.38	(1.40)	2.69	(2.33)	7.46
T	0.94	0.04	(0.10)	0.47	1.19	(0.99)	2.03	(2.23)	5.71
A	1.48	(0.13)	0.03	0.13	1.73	(1.56)	2.82	(2.89)	14.01
CRM	1.20	(0.12)	(0.03)	0.11	1.40	(1.20)	2.91	(2.57)	9.31
JPM	0.83	0.17	0.16	0.37	0.53	(0.96)	2.04	(1.31)	5.90
MRK	1.38	(0.13)	(0.03)	0.10	1.85	(1.33)	2.90	(3.31)	10.58
XOM	1.05	0.01	(0.11)	0.28	1.42	(1.02)	2.14	(2.58)	6.26

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