ProShares Short Correlations

TBX Etf

USD 28.32 0.02 0.07%

The current 90-days correlation between ProShares Short 7 and ProShares Short 20 is 0.49 (i.e., Very weak 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. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Short Correlation With Market

Very good diversification

The correlation between ProShares Short 7 10 and DJI is -0.27 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Short 7 10 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 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 bureau of labor statistics.

Moving together with ProShares Etf

0.78	TBT	ProShares UltraShort	Pair Corr
0.67	TMV	Direxion Daily 20	Pair Corr
0.79	TBF	ProShares Short 20	Pair Corr
0.69	TYO	Direxion Daily 7	Pair Corr

Moving against ProShares Etf

0.56	BND	Vanguard Total Bond	Pair Corr
0.51	TAPR	Innovator Equity Defined	Pair Corr
0.48	BSMV	Invesco BulletShares 2031	Pair Corr
0.41	TQQQ	ProShares UltraPro QQQ Aggressive Push	Pair Corr
0.39	IMCB	iShares Morningstar Mid	Pair Corr
0.56	HTRB	Hartford Total Return	Pair Corr
0.52	EMTL	SPDR DoubleLine Emerging	Pair Corr
0.48	GIAX	Nicholas Global Equity	Pair Corr
0.44	PCY	Invesco Emerging Markets	Pair Corr
0.42	XOVR	ERShares Private Public Symbol Change	Pair Corr
0.4	BBEM	JP Morgan Exchange	Pair Corr
0.4	IGSB	iShares 1 5	Pair Corr
0.39	GLOV	Goldman Sachs ActiveBeta	Pair Corr
0.38	SPGP	Invesco SP 500	Pair Corr
0.38	BBMC	JPMorgan BetaBuilders Mid	Pair Corr
0.38	IWTR	iShares Trust	Pair Corr
0.35	ARKQ	ARK Autonomous Technology Low Volatility	Pair Corr
0.33	ICSH	iShares Ultra Short	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.89	0.42	0.62	0.53	0.55	-0.74	0.8	0.64	0.42	META
MSFT	0.89		0.43	0.7	0.39	0.49	-0.72	0.93	0.71	0.46	MSFT
UBER	0.42	0.43		0.78	0.14	0.5	0.06	0.56	0.44	0.39	UBER
F	0.62	0.7	0.78		0.17	0.54	-0.33	0.78	0.73	0.63	F
T	0.53	0.39	0.14	0.17		0.44	-0.38	0.37	0.39	0.1	T
A	0.55	0.49	0.5	0.54	0.44		-0.15	0.59	0.78	0.68	A
CRM	-0.74	-0.72	0.06	-0.33	-0.38	-0.15		-0.51	-0.42	-0.13	CRM
JPM	0.8	0.93	0.56	0.78	0.37	0.59	-0.51		0.75	0.54	JPM
MRK	0.64	0.71	0.44	0.73	0.39	0.78	-0.42	0.75		0.67	MRK
XOM	0.42	0.46	0.39	0.63	0.1	0.68	-0.13	0.54	0.67		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	+ 0.93	MSFT
MSFT	+ 0.89	META
JPM	+ 0.8	META
F	+ 0.78	UBER
JPM	+ 0.78	F
MRK	+ 0.78	A

High negative correlations

CRM	- 0.74	META
CRM	- 0.72	MSFT
JPM	- 0.51	CRM
MRK	- 0.42	CRM
CRM	- 0.38	T
CRM	- 0.33	F

ProShares Short Competition 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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
META	1.45	0.49	0.22	(0.42)	0.96	(1.81)	3.51	(2.35)	14.28
MSFT	0.69	0.22	0.25	0.48	0.27	(0.83)	2.20	(1.08)	5.71
UBER	1.48	0.08	0.04	0.18	1.58	(1.71)	3.87	(3.36)	11.37
F	1.27	0.17	0.04	(1.96)	1.52	(1.27)	2.55	(2.36)	7.46
T	0.87	0.05	(0.03)	0.48	1.08	(0.90)	2.03	(2.06)	5.71
A	1.45	(0.06)	0.01	0.07	1.80	(1.50)	2.82	(2.74)	14.01
CRM	1.23	(0.42)	0.00	(0.21)	0.00	0.00	2.12	(3.26)	8.50
JPM	0.83	0.12	0.11	0.23	0.85	(0.92)	1.83	(1.51)	5.90
MRK	1.36	(0.05)	(0.01)	0.06	1.88	(1.26)	2.90	(3.31)	10.58
XOM	1.05	0.00	(0.06)	0.08	1.35	(1.04)	2.14	(2.07)	6.26

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