| BZQ Etf | | | USD 15.56 0.95 6.50% |
The current 90-days correlation between ProShares UltraShort MSCI and AXS TSLA Bear is -0.06 (i.e., Good diversification). The correlation of ProShares UltraShort 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 UltraShort Correlation With Market
Very good diversification
The correlation between ProShares UltraShort MSCI and DJI is -0.38 (i.e., Very good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort MSCI and DJI in the same portfolio, assuming nothing else is changed.
Check out
Trending Equities to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort MSCI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as
signals in nation.