ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short QQQ
PSQ Etf  USD 33.21  0.07  0.21%   
The current 90-days correlation between ProShares Short QQQ and ProShares Short SP500 is 0.97 (i.e., Almost no 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

Pay attention - limited upside

The correlation between ProShares Short QQQ and DJI is -0.82 (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 Short QQQ and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with ProShares Etf
Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares Short QQQ. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in state.

Moving together with ProShares Etf

  1.0SH ProShares Short SP500PairCorr
  1.0SPXU ProShares UltraPro ShortPairCorr
  1.0SDS ProShares UltraShortPairCorr
  1.0SPXS Direxion Daily SPPairCorr
  1.0QID ProShares UltraShort QQQPairCorr
  0.98RWM ProShares Short RussPairCorr
  1.0SPDN Direxion Daily SPPairCorr
  0.98TAIL Cambria Tail RiskPairCorr
  0.97DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.99QLD ProShares Ultra QQQPairCorr
  0.99SPXL Direxion Daily SP500PairCorr
  0.99UPRO ProShares UltraPro SP500PairCorr
  0.98ROM ProShares Ultra TechPairCorr
  0.97TECL Direxion Daily TechnologyPairCorr
  0.97SOXX iShares Semiconductor ETFPairCorr
  0.96SMH VanEck Semiconductor ETFPairCorr
  0.93USD ProShares Ultra SemiPairCorr
  0.91GBTC Grayscale Bitcoin TrustPairCorr
  0.83KGRN KraneShares MSCI ChinaPairCorr
  0.66EUSB iShares TrustPairCorr
  0.98MSFT MicrosoftPairCorr
  0.97DIS Walt DisneyPairCorr
  0.97BAC Bank of AmericaPairCorr
  0.96AXP American ExpressPairCorr
  0.95BA BoeingPairCorr
  0.95CSCO Cisco SystemsPairCorr
  0.92MMM 3M CompanyPairCorr
  0.91AA Alcoa CorpPairCorr
  0.88DD Dupont De NemoursPairCorr
  0.83PFE Pfizer IncPairCorr
  0.77CVX Chevron CorpPairCorr
  0.72INTC Intel Earnings Call This WeekPairCorr
  0.58HD Home DepotPairCorr
  0.56XOM Exxon Mobil CorpPairCorr
  0.5T ATT Inc Earnings Call This WeekPairCorr

Related Correlations Analysis

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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.

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