ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short Russell2000
RWM Etf  USD 18.17  0.05  0.27%   
The current 90-days correlation between ProShares Short Russ and ProShares Short QQQ is 0.76 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Short moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Short Russell2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Short Correlation With Market

Pay attention - limited upside

The correlation between ProShares Short Russell2000 and DJI is -0.88 (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 Russell2000 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 Russell2000. 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

  0.99SH ProShares Short SP500PairCorr
  0.97PSQ ProShares Short QQQ Sell-off TrendPairCorr
  0.98SPXU ProShares UltraPro ShortPairCorr
  0.98SDS ProShares UltraShortPairCorr
  0.98SPXS Direxion Daily SPPairCorr
  0.97QID ProShares UltraShort QQQPairCorr
  0.98SPDN Direxion Daily SPPairCorr
  0.93TAIL Cambria Tail RiskPairCorr
  0.99DOG ProShares Short Dow30PairCorr
  0.77MPAY Exchange Traded ConceptsPairCorr
  0.72MCD McDonaldsPairCorr

Moving against ProShares Etf

  0.98ITDD iShares TrustPairCorr
  0.95AXP American ExpressPairCorr
  0.85PFFL ETRACS 2xMonthly PayPairCorr
  0.66PMBS PIMCO Mortgage BackedPairCorr
  0.97CAT CaterpillarPairCorr
  0.96BAC Bank of AmericaPairCorr
  0.96MSFT Microsoft Earnings Call This WeekPairCorr
  0.92AA Alcoa CorpPairCorr
  0.91DD Dupont De Nemours Earnings Call TomorrowPairCorr
  0.86CVX Chevron Corp Earnings Call This WeekPairCorr
  0.85IBM International BusinessPairCorr
  0.58XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.5HD Home DepotPairCorr
  0.49JNJ Johnson JohnsonPairCorr
  0.39T ATT Inc Aggressive PushPairCorr
  0.34MRK Merck Company Earnings Call TomorrowPairCorr

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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