ProShares Decline Correlations

Etfs . USA . 
Etf . ProShares Decline of
EMTY Etf  USD 11.61  0.32  2.68%   
The current 90-days correlation between ProShares Decline and ProShares Short SP500 is 0.68 (i.e., Poor diversification). The correlation of ProShares Decline 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 Decline Correlation With Market

Pay attention - limited upside

The correlation between ProShares Decline of and DJI is -0.72 (i.e., Pay attention - limited upside) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Decline of 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 Decline of. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in estimate.

Moving together with ProShares Etf

  0.95SH ProShares Short SP500PairCorr
  0.93PSQ ProShares Short QQQPairCorr
  0.93SPXU ProShares UltraPro ShortPairCorr
  0.95SDS ProShares UltraShortPairCorr
  0.95SPXS Direxion Daily SPPairCorr
  0.95QID ProShares UltraShort QQQPairCorr
  0.95RWM ProShares Short RussPairCorr
  0.95SPDN Direxion Daily SPPairCorr
  0.95TAIL Cambria Tail RiskPairCorr
  0.94DOG ProShares Short Dow30 Sell-off TrendPairCorr

Moving against ProShares Etf

  0.94SPXL Direxion Daily SP500 Sell-off TrendPairCorr
  0.93ROM ProShares Ultra TechPairCorr
  0.93QLD ProShares Ultra QQQPairCorr
  0.93UPRO ProShares UltraPro SP500 Sell-off TrendPairCorr
  0.92GBTC Grayscale Bitcoin TrustPairCorr
  0.92TECL Direxion Daily TechnologyPairCorr
  0.91SMH VanEck Semiconductor ETFPairCorr
  0.9SOXX iShares Semiconductor ETFPairCorr
  0.89USD ProShares Ultra Semi Downward RallyPairCorr
  0.86KGRN KraneShares MSCI ChinaPairCorr
  0.5EUSB iShares TrustPairCorr
  0.95MMM 3M CompanyPairCorr
  0.95BA Boeing Earnings Call This WeekPairCorr
  0.93BAC Bank of America Aggressive PushPairCorr
  0.92AXP American ExpressPairCorr
  0.92DIS Walt DisneyPairCorr
  0.92MSFT Microsoft Earnings Call Next WeekPairCorr
  0.91CSCO Cisco Systems Sell-off TrendPairCorr
  0.9AA Alcoa CorpPairCorr
  0.89DD Dupont De Nemours Earnings Call This WeekPairCorr
  0.75PFE Pfizer IncPairCorr
  0.71CVX Chevron CorpPairCorr
  0.7INTC Intel Earnings Call This WeekPairCorr
  0.69HD Home DepotPairCorr
  0.42XOM Exxon Mobil CorpPairCorr
  0.39T ATT Inc Earnings Call TomorrowPairCorr
  0.32HPQ HP IncPairCorr
  0.32TRV The Travelers CompaniesPairCorr

Related Correlations Analysis

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ProShares Decline Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Decline 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 Decline'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 DeviationJensen AlphaSortino RatioTreynor RatioSemi DeviationExpected ShortfallPotential UpsideValue @RiskMaximum Drawdown
SH  0.65 (0.10) 0.00  0.25  0.00 
 0.00 
 1.18 
(2.01)
 5.52 
PSQ  0.79 (0.31) 0.00 (4.28) 0.00 
 0.00 
 1.32 
(2.29)
 7.02 
SPXU  1.97 (0.69) 0.00 (3.08) 0.00 
 0.00 
 3.48 
(6.03)
 16.87 
SDS  1.30 (0.20) 0.00  0.25  0.00 
 0.00 
 2.29 
(3.97)
 11.16 
SPXS  2.01 (0.30) 0.00  0.25  0.00 
 0.00 
 3.75 
(6.09)
 16.76 
QID  1.58 (0.34) 0.00  0.31  0.00 
 0.00 
 2.63 
(4.60)
 14.08 
RWM  0.94 (0.10) 0.00  0.23  0.00 
 0.00 
 1.94 
(2.18)
 5.55 
SPDN  0.67 (0.10) 0.00  0.24  0.00 
 0.00 
 1.23 
(1.95)
 5.60 
TAIL  0.48 (0.05) 0.00  0.24  0.00 
 0.00 
 0.58 
(1.02)
 4.38 
DOG  0.68  0.01  0.00  0.13  0.00 
 0.00 
 1.81 
(1.28)
 5.30 

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