ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort Russell2000
TWM Etf  USD 40.09  0.08  0.20%   
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 -0.88 (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 housing.

Moving together with ProShares Etf

  0.99SH ProShares Short SP500PairCorr
  0.98PSQ ProShares Short QQQPairCorr
  0.98SPXU ProShares UltraPro ShortPairCorr
  0.99SDS ProShares UltraShortPairCorr
  0.98SPXS Direxion Daily SPPairCorr
  0.97QID ProShares UltraShort QQQPairCorr
  1.0RWM ProShares Short RussPairCorr
  0.99SPDN Direxion Daily SPPairCorr
  0.94TAIL Cambria Tail RiskPairCorr
  0.99DOG ProShares Short Dow30PairCorr
  0.77MPAY Exchange Traded ConceptsPairCorr
  0.73MCD McDonaldsPairCorr

Moving against ProShares Etf

  0.99ITDD iShares TrustPairCorr
  0.95AXP American ExpressPairCorr
  0.83PFFL ETRACS 2xMonthly PayPairCorr
  0.66PMBS PIMCO Mortgage BackedPairCorr
  0.97BAC Bank of America Aggressive PushPairCorr
  0.97CAT Caterpillar Earnings Call This WeekPairCorr
  0.96MSFT Microsoft Earnings Call TomorrowPairCorr
  0.92AA Alcoa CorpPairCorr
  0.9DD Dupont De Nemours Earnings Call TodayPairCorr
  0.86CVX Chevron Corp Earnings Call This WeekPairCorr
  0.85IBM International BusinessPairCorr
  0.58XOM Exxon Mobil Corp Earnings Call This WeekPairCorr
  0.49HD Home DepotPairCorr
  0.48JNJ Johnson JohnsonPairCorr
  0.4T ATT IncPairCorr
  0.33MRK Merck Company Earnings Call TodayPairCorr

Related Correlations Analysis

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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.

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