ProShares UltraShort Correlations

PST Etf

USD 22.89 0.00 0.00%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort 20 is 0.65 (i.e., Poor 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 7 10 and DJI is 0.08 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort 7 10 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 UltraShort 7 10. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with ProShares Etf

0.87	TBT	ProShares UltraShort	Pair Corr
0.87	TMV	Direxion Daily 20	Pair Corr
0.83	TBF	ProShares Short 20	Pair Corr
0.95	TYO	Direxion Daily 7	Pair Corr

Moving against ProShares Etf

0.67	TAPR	Innovator Equity Defined	Pair Corr
0.66	CSCO	Cisco Systems	Pair Corr
0.6	FNGO	MicroSectors FANG Index	Pair Corr
0.59	USD	ProShares Ultra Semi	Pair Corr
0.58	JPM	JPMorgan Chase	Pair Corr
0.55	DFEN	Direxion Daily Aerospace Potential Growth	Pair Corr
0.41	DUSL	Direxion Daily Indus	Pair Corr
0.31	AMZA	InfraCap MLP ETF	Pair Corr
0.66	MSFT	Microsoft	Pair Corr
0.56	T	ATT Inc Aggressive Push	Pair Corr
0.54	CAT	Caterpillar	Pair Corr
0.49	WMT	Walmart Earnings Call This Week	Pair Corr
0.41	HD	Home Depot Earnings Call Tomorrow	Pair Corr
0.38	MRK	Merck Company Aggressive Push	Pair Corr
0.34	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.91	0.33	0.62	0.59	0.5	-0.79	0.77	0.63	0.31	META
MSFT	0.91		0.38	0.7	0.43	0.45	-0.73	0.92	0.72	0.41	MSFT
UBER	0.33	0.38		0.78	0.17	0.45	0.06	0.52	0.42	0.36	UBER
F	0.62	0.7	0.78		0.32	0.61	-0.36	0.79	0.76	0.58	F
T	0.59	0.43	0.17	0.32		0.49	-0.47	0.38	0.47	0.05	T
A	0.5	0.45	0.45	0.61	0.49		-0.18	0.56	0.78	0.66	A
CRM	-0.79	-0.73	0.06	-0.36	-0.47	-0.18		-0.5	-0.47	-0.07	CRM
JPM	0.77	0.92	0.52	0.79	0.38	0.56	-0.5		0.76	0.51	JPM
MRK	0.63	0.72	0.42	0.76	0.47	0.78	-0.47	0.76		0.62	MRK
XOM	0.31	0.41	0.36	0.58	0.05	0.66	-0.07	0.51	0.62		XOM
	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM

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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

JPM	+ 0.92	MSFT
MSFT	+ 0.91	META
JPM	+ 0.79	F
F	+ 0.78	UBER
MRK	+ 0.78	A
JPM	+ 0.77	META

High negative correlations

CRM	- 0.79	META
CRM	- 0.73	MSFT
JPM	- 0.5	CRM
MRK	- 0.47	CRM
CRM	- 0.47	T
CRM	- 0.36	F

ProShares UltraShort Competition 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.33	0.22	0.15	0.40	1.06	(1.60)	3.16	(2.35)	14.28
MSFT	0.69	0.18	0.16	0.46	0.50	(0.80)	1.80	(1.22)	5.71
UBER	1.35	(0.04)	(0.04)	0.03	1.66	(1.47)	2.44	(3.36)	11.37
F	1.25	0.04	0.03	0.13	1.51	(1.26)	2.13	(2.36)	7.46
T	0.80	0.11	0.05	0.39	0.79	(0.88)	2.03	(1.43)	5.71
A	1.36	(0.09)	(0.02)	0.04	1.84	(1.31)	2.80	(2.74)	9.19
CRM	1.24	(0.38)	0.00	(0.20)	0.00	0.00	2.32	(3.26)	6.27
JPM	0.83	0.07	0.06	0.16	0.92	(0.87)	1.78	(1.51)	5.19
MRK	1.22	0.07	0.04	0.17	1.59	(1.17)	2.90	(2.57)	7.79
XOM	1.03	(0.03)	0.00	(0.13)	0.00	0.00	2.14	(2.07)	6.25

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