ProShares Short Correlations

Etfs . USA . 
Etf . ProShares Short SmallCap600
SBB Etf  USD 14.20  0.31  2.14%   
The current 90-days correlation between ProShares Short Smal and ProShares Short MidCap400 is -0.03 (i.e., Good 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 -0.86 (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

  0.9SH ProShares Short SP500 Sell-off TrendPairCorr
  0.87PSQ ProShares Short QQQ Sell-off TrendPairCorr
  0.89SPXU ProShares UltraPro ShortPairCorr
  0.9SDS ProShares UltraShortPairCorr
  0.89SPXS Direxion Daily SPPairCorr
  0.86QID ProShares UltraShort QQQ Sell-off TrendPairCorr
  0.98RWM ProShares Short RussPairCorr
  0.9SPDN Direxion Daily SP Sell-off TrendPairCorr
  0.86TAIL Cambria Tail RiskPairCorr
  0.86DOG ProShares Short Dow30PairCorr
  0.63WTID UBS ETRACSPairCorr

Moving against ProShares Etf

  0.85TARK AXS 2X InnovationPairCorr
  0.74BTFX Valkyrie Bitcoin FuturesPairCorr
  0.72BITU ProShares TrustPairCorr
  0.72BTCL T Rex 2X Low VolatilityPairCorr
  0.71BITX Volatility Shares Trust Low VolatilityPairCorr
  0.89AA Alcoa CorpPairCorr
  0.84JPM JPMorgan ChasePairCorr
  0.82BA BoeingPairCorr
  0.81PFE Pfizer Inc Aggressive PushPairCorr
  0.8CSCO Cisco SystemsPairCorr
  0.77AXP American ExpressPairCorr
  0.74MMM 3M CompanyPairCorr
  0.65GE GE AerospacePairCorr
  0.62JNJ Johnson JohnsonPairCorr
  0.58INTC Intel Aggressive PushPairCorr
  0.53XOM Exxon Mobil CorpPairCorr
  0.5HD Home Depot Earnings Call This WeekPairCorr
  0.35T ATT Inc Sell-off TrendPairCorr

Related Correlations Analysis


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

MZZ
+ 0.98
SDD
SDD
+ 0.71
MYY
MZZ
+ 0.7
MYY
RXD
+ 0.37
SDD
RXD
+ 0.36
MZZ
RXD
+ 0.17
MYY
  

High negative correlations

SZK
- 0.25
MYY
SZK
- 0.08
MZZ
SZK
- 0.05
SDD

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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