ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort MSCI
EEV Etf  USD 11.92  0.18  1.49%   
The current 90-days correlation between ProShares UltraShort MSCI and ProShares UltraShort FTSE is -0.04 (i.e., Good diversification). The correlation of ProShares UltraShort 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 UltraShort Correlation With Market

Significant diversification

The correlation between ProShares UltraShort MSCI and DJI is 0.01 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort MSCI and DJI in the same portfolio, assuming nothing else is changed.
  
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Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort MSCI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with ProShares Etf

  0.97SH ProShares Short SP500 Sell-off TrendPairCorr
  0.98PSQ ProShares Short QQQPairCorr
  0.98SPXU ProShares UltraPro ShortPairCorr
  0.97SDS ProShares UltraShortPairCorr
  0.97SPXS Direxion Daily SPPairCorr
  0.97QID ProShares UltraShort QQQPairCorr
  0.96RWM ProShares Short RussPairCorr
  0.97SPDN Direxion Daily SP Sell-off TrendPairCorr
  0.93TAIL Cambria Tail RiskPairCorr
  0.95DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.98ROM ProShares Ultra TechPairCorr
  0.98QLD ProShares Ultra QQQPairCorr
  0.98UPRO ProShares UltraPro SP500PairCorr
  0.97TECL Direxion Daily TechnologyPairCorr
  0.97SMH VanEck Semiconductor ETFPairCorr
  0.97SOXX iShares Semiconductor ETFPairCorr
  0.97SPXL Direxion Daily SP500PairCorr
  0.95USD ProShares Ultra SemiPairCorr
  0.9GBTC Grayscale Bitcoin TrustPairCorr
  0.82KGRN KraneShares MSCI ChinaPairCorr
  0.68EUSB iShares TrustPairCorr
  0.98MSFT Microsoft Aggressive PushPairCorr
  0.96DIS Walt DisneyPairCorr
  0.96BAC Bank of AmericaPairCorr
  0.96CSCO Cisco SystemsPairCorr
  0.94AXP American ExpressPairCorr
  0.92BA Boeing Earnings Call This WeekPairCorr
  0.89AA Alcoa CorpPairCorr
  0.87MMM 3M CompanyPairCorr
  0.86DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.83PFE Pfizer IncPairCorr
  0.8CVX Chevron CorpPairCorr
  0.74INTC Intel Earnings Call This WeekPairCorr
  0.56XOM Exxon Mobil CorpPairCorr
  0.5T ATT Inc Earnings Call TomorrowPairCorr
  0.48HD Home DepotPairCorr

Related Correlations Analysis

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ProShares UltraShort Constituents 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.

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