ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short SmallCap600
SBB Etf  USD 14.79  0.13  0.89%   
The current 90-days correlation between ProShares Short Smal and ProShares Short MidCap400 is 0.96 (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.

ProShares Short Correlation With Market

Pay attention - limited upside

The correlation between ProShares Short SmallCap600 and DJI is -0.83 (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 SmallCap600 and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with ProShares Etf
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares Short SmallCap600. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of labor statistics.

Moving together with ProShares Etf

  0.98SH ProShares Short SP500PairCorr
  0.97PSQ ProShares Short QQQPairCorr
  0.98SPXU ProShares UltraPro ShortPairCorr
  0.98SDS ProShares UltraShortPairCorr
  0.98SPXS Direxion Daily SPPairCorr
  0.97QID ProShares UltraShort QQQPairCorr
  0.99RWM ProShares Short RussPairCorr
  0.98SPDN Direxion Daily SPPairCorr
  0.96TAIL Cambria Tail RiskPairCorr
  0.97DOG ProShares Short Dow30PairCorr

Moving against ProShares Etf

  0.98SPXL Direxion Daily SP500PairCorr
  0.98UPRO ProShares UltraPro SP500PairCorr
  0.97QLD ProShares Ultra QQQPairCorr
  0.96TECL Direxion Daily TechnologyPairCorr
  0.96ROM ProShares Ultra TechPairCorr
  0.95SMH VanEck Semiconductor ETFPairCorr
  0.95SOXX iShares Semiconductor ETFPairCorr
  0.92USD ProShares Ultra SemiPairCorr
  0.91GBTC Grayscale Bitcoin TrustPairCorr
  0.86KGRN KraneShares MSCI ChinaPairCorr
  0.64EUSB iShares TrustPairCorr
  0.98AXP American ExpressPairCorr
  0.96BAC Bank of AmericaPairCorr
  0.95MSFT MicrosoftPairCorr
  0.95BA BoeingPairCorr
  0.94MMM 3M CompanyPairCorr
  0.94DD Dupont De NemoursPairCorr
  0.94DIS Walt DisneyPairCorr
  0.93AA Alcoa CorpPairCorr
  0.93CSCO Cisco SystemsPairCorr
  0.83PFE Pfizer IncPairCorr
  0.8CVX Chevron CorpPairCorr
  0.8INTC Intel Earnings Call This WeekPairCorr
  0.65HD Home DepotPairCorr
  0.59XOM Exxon Mobil CorpPairCorr
  0.46T ATT Inc Earnings Call This WeekPairCorr

Related Correlations Analysis

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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   
SDD
+ 1.0
MYY
MZZ
+ 1.0
MYY
MZZ
+ 0.99
SDD
SZK
+ 0.15
RXD
  
High negative correlations   
RXD
- 0.26
MZZ
RXD
- 0.25
MYY
RXD
- 0.21
SDD
SZK
- 0.17
SDD
SZK
- 0.14
MZZ
SZK
- 0.14
MYY

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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