ProShares UltraShort Correlations

SCO Etf

USD 16.63 0.24 1.42%

The current 90-days correlation between ProShares UltraShort and ProShares Ultra Bloomberg is -1.0 (i.e., Pay attention - limited upside). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares UltraShort moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares UltraShort Bloomberg moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Modest diversification

The correlation between ProShares UltraShort Bloomberg and DJI is 0.26 (i.e., Modest diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Bloomberg 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 UltraShort Bloomberg. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with ProShares Etf

0.86	ZSL	ProShares UltraShort	Pair Corr
0.76	GDXD	MicroSectors Gold Miners	Pair Corr
0.88	WTID	UBS ETRACS	Pair Corr
0.68	VXX	iPath Series B	Pair Corr
0.69	VIXY	ProShares VIX Short	Pair Corr
0.61	YCL	ProShares Ultra Yen	Pair Corr

Moving against ProShares Etf

0.98	PDBC	Invesco Optimum Yield	Pair Corr
0.89	BGR	BlackRock Energy	Pair Corr
0.79	ARKG	ARK Genomic Revolution Low Volatility	Pair Corr
0.76	GOF	Guggenheim Strategic	Pair Corr
0.74	DJAN	First Trust Exchange	Pair Corr
0.73	SUSB	iShares ESG 1	Pair Corr
0.73	ISPY	ProShares SP 500	Pair Corr
0.73	IWF	iShares Russell 1000	Pair Corr
0.73	VONG	Vanguard Russell 1000	Pair Corr
0.72	IXUS	iShares Core MSCI	Pair Corr
0.71	OPTZ	Optimize Strategy Index	Pair Corr
0.71	RING	iShares MSCI Global	Pair Corr
0.7	SIXD	AIM ETF Products	Pair Corr
0.7	ZALT	Innovator Equity	Pair Corr
0.64	BTFD	Valkyrie Bitcoin Strategy	Pair Corr
0.62	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.62	MMIT	IQ MacKay Municipal	Pair Corr
0.61	LPRE	Exchange Listed Funds	Pair Corr
0.59	PMBS	PIMCO Mortgage Backed	Pair Corr
0.42	WOOD	iShares Global Timber	Pair Corr
0.83	SLVO	Credit Suisse X	Pair Corr
0.82	WEEK	WEEK	Pair Corr
0.81	URAN	Themes Uranium Nuclear Low Volatility	Pair Corr
0.8	IBHE	iShares iBonds 2025	Pair Corr
0.79	FTSM	First Trust Enhanced	Pair Corr
0.78	BBCA	JPMorgan BetaBuilders	Pair Corr
0.76	HYG	iShares iBoxx High Sell-off Trend	Pair Corr
0.74	DNOV	FT Cboe Vest	Pair Corr
0.74	BUFD	FT Cboe Vest	Pair Corr

Related Correlations Analysis

	UCO	KOLD	ERY	BOIL	ZSL
UCO		-0.06	-0.85	-0.36	-0.77	UCO
KOLD	-0.06		0.0	-0.61	-0.08	KOLD
ERY	-0.85	0.0		0.45	0.77	ERY
BOIL	-0.36	-0.61	0.45		0.63	BOIL
ZSL	-0.77	-0.08	0.77	0.63		ZSL
	UCO	KOLD	ERY	BOIL	ZSL

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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

ZSL	+ 0.77	ERY
ZSL	+ 0.63	BOIL
BOIL	+ 0.45	ERY
ERY	+ 0.0	KOLD

High negative correlations

ERY	- 0.85	UCO
ZSL	- 0.77	UCO
BOIL	- 0.61	KOLD
BOIL	- 0.36	UCO
ZSL	- 0.08	KOLD
KOLD	- 0.06	UCO

ProShares UltraShort Constituents 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
UCO	2.47	0.49	0.00	(0.21)	3.38	(2.64)	6.16	(4.08)	19.88
KOLD	5.07	0.16	0.03	0.38	6.88	(4.84)	11.25	(10.26)	29.98
ERY	1.98	(0.09)	0.00	0.33	0.00	0.00	3.81	(3.82)	10.62
BOIL	4.95	(0.12)	0.00	0.46	0.00	0.00	10.25	(10.93)	31.87
ZSL	2.46	(0.71)	0.00	(0.65)	0.00	0.00	4.13	(6.61)	16.13

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