ProShares UltraShort Correlations

TWM Etf

USD 39.35 0.64 1.65%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort MidCap400 is 0.95 (i.e., Almost no diversification). 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 Russell2000 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares UltraShort Correlation With Market

Pay attention - limited upside

The correlation between ProShares UltraShort Russell20 and DJI is -0.87 (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 UltraShort Russell20 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 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 unemployment.

Moving together with ProShares Etf

0.97	SH	ProShares Short SP500	Pair Corr
0.96	PSQ	ProShares Short QQQ	Pair Corr
0.97	SPXU	ProShares UltraPro Short	Pair Corr
0.97	SDS	ProShares UltraShort Potential Growth	Pair Corr
0.94	SPXS	Direxion Daily SP	Pair Corr
0.93	QID	ProShares UltraShort QQQ	Pair Corr
1.0	RWM	ProShares Short Russ	Pair Corr
0.93	SPDN	Direxion Daily SP Sell-off Trend	Pair Corr
0.88	TAIL	Cambria Tail Risk	Pair Corr
0.96	DOG	ProShares Short Dow30 Potential Growth	Pair Corr
0.72	PG	Procter Gamble	Pair Corr

Moving against ProShares Etf

0.95	WGMI	Valkyrie Bitcoin Miners	Pair Corr
0.92	ITWO	Proshares Russell 2000 Low Volatility	Pair Corr
0.84	AA	Alcoa Corp Downward Rally	Pair Corr
0.83	PMBS	PIMCO Mortgage Backed	Pair Corr
0.62	AMPD	Tidal ETF Services	Pair Corr
0.58	INTC	Intel Aggressive Push	Pair Corr
0.49	XOM	Exxon Mobil Corp	Pair Corr
0.9	CVX	Chevron Corp	Pair Corr
0.88	MSFT	Microsoft	Pair Corr
0.86	BA	Boeing	Pair Corr
0.86	BAC	Bank of America Aggressive Push	Pair Corr
0.86	CSCO	Cisco Systems	Pair Corr
0.85	PFE	Pfizer Inc	Pair Corr
0.84	MRK	Merck Company Aggressive Push	Pair Corr
0.78	GE	GE Aerospace	Pair Corr
0.76	JNJ	Johnson Johnson	Pair Corr
0.65	DIS	Walt Disney	Pair Corr
0.65	MMM	3M Company	Pair Corr
0.46	T	ATT Inc	Pair Corr

Related Correlations Analysis

	MZZ	DXD	QID	SMN	SDD
MZZ		0.97	0.86	0.89	0.97	MZZ
DXD	0.97		0.91	0.88	0.96	DXD
QID	0.86	0.91		0.73	0.89	QID
SMN	0.89	0.88	0.73		0.88	SMN
SDD	0.97	0.96	0.89	0.88		SDD
	MZZ	DXD	QID	SMN	SDD

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	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
MZZ	1.44	0.10	0.05	2.79	(2.69)	9.91
DXD	1.10	0.01	0.09	2.01	(2.26)	7.40
QID	1.14	(0.35)	(0.73)	2.00	(2.77)	7.66
SMN	1.56	0.04	0.07	2.86	(2.80)	8.83
SDD	1.78	0.05	0.07	3.76	(3.19)	12.13

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