ProShares UltraShort Correlations

PST Etf

USD 23.37 0.15 0.64%

The current 90-days correlation between ProShares UltraShort and ProShares UltraShort 20 is 0.02 (i.e., Significant 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

Good diversification

The correlation between ProShares UltraShort 7 10 and DJI is -0.14 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort 7 10 and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort 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 state.

Moving together with ProShares Etf

0.93	TBT	ProShares UltraShort	Pair Corr
0.99	TMV	Direxion Daily 20	Pair Corr
0.99	TBF	ProShares Short 20	Pair Corr
1.0	TYO	Direxion Daily 7	Pair Corr
0.74	SHLD	Global X Funds	Pair Corr
0.84	WINN	Harbor Long Term	Pair Corr
0.78	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.87	JPM	JPMorgan Chase Sell-off Trend	Pair Corr
0.87	CVX	Chevron Corp Sell-off Trend	Pair Corr
0.76	HPQ	HP Inc	Pair Corr
0.63	CAT	Caterpillar Fiscal Year End 3rd of February 2025	Pair Corr
0.76	TRV	The Travelers Companies Fiscal Year End 17th of January 2025	Pair Corr
0.74	INTC	Intel Fiscal Year End 23rd of January 2025	Pair Corr
0.75	DIS	Walt Disney Aggressive Push	Pair Corr
0.91	CSCO	Cisco Systems Aggressive Push	Pair Corr

Moving against ProShares Etf

0.96	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.93	KO	Coca Cola Sell-off Trend	Pair Corr
0.81	JNJ	Johnson Johnson Fiscal Year End 28th of January 2025	Pair Corr
0.78	FNGD	MicroSectors FANG Index	Pair Corr
0.58	SMI	VanEck Vectors ETF	Pair Corr
0.5	HUM	Humana Inc Fiscal Year End 23rd of January 2025	Pair Corr
0.46	MMM	3M Company Fiscal Year End 28th of January 2025	Pair Corr
0.39	PG	Procter Gamble	Pair Corr

Related Correlations Analysis

	META	MSFT	UBER	F	T	A	CRM	JPM	MRK	XOM
META		0.27	0.55	0.01	0.55	0.04	0.64	0.28	-0.53	0.72	META
MSFT	0.27		0.22	0.13	0.18	-0.01	0.03	-0.12	0.12	-0.19	MSFT
UBER	0.55	0.22		-0.06	-0.06	0.27	-0.01	-0.14	0.08	0.35	UBER
F	0.01	0.13	-0.06		0.14	-0.38	0.44	0.67	-0.31	0.3	F
T	0.55	0.18	-0.06	0.14		-0.5	0.79	0.6	-0.78	0.38	T
A	0.04	-0.01	0.27	-0.38	-0.5		-0.47	-0.62	0.64	-0.01	A
CRM	0.64	0.03	-0.01	0.44	0.79	-0.47		0.85	-0.91	0.65	CRM
JPM	0.28	-0.12	-0.14	0.67	0.6	-0.62	0.85		-0.83	0.48	JPM
MRK	-0.53	0.12	0.08	-0.31	-0.78	0.64	-0.91	-0.83		-0.56	MRK
XOM	0.72	-0.19	0.35	0.3	0.38	-0.01	0.65	0.48	-0.56		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	+ 0.85	CRM
CRM	+ 0.79	T
XOM	+ 0.72	META
JPM	+ 0.67	F
XOM	+ 0.65	CRM
CRM	+ 0.64	META

High negative correlations

MRK	- 0.91	CRM
MRK	- 0.83	JPM
MRK	- 0.78	T
JPM	- 0.62	A
XOM	- 0.56	MRK
MRK	- 0.53	META

ProShares UltraShort Competition 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
META	1.06	0.06	0.02	0.20	1.40	(1.15)	2.62	(3.15)	8.02
MSFT	0.92	(0.05)	(0.05)	0.05	1.49	(0.89)	2.09	(1.85)	8.19
UBER	1.62	(0.12)	(0.05)	0.00	2.30	(1.74)	2.69	(2.53)	20.10
F	1.46	(0.15)	(0.04)	0.01	2.23	(1.47)	2.53	(2.90)	11.21
T	0.92	0.28	0.15	(7.88)	0.85	(1.05)	2.56	(1.72)	6.47
A	1.17	(0.09)	0.00	(0.05)	0.00	0.00	2.71	(2.42)	9.02
CRM	1.34	0.21	0.16	0.30	1.16	(1.53)	3.18	(1.93)	9.09
JPM	1.12	(0.01)	0.06	0.11	1.40	(1.21)	2.05	(2.00)	15.87
MRK	0.91	(0.21)	0.00	(0.74)	0.00	0.00	2.00	(2.13)	4.89
XOM	1.01	(0.05)	(0.08)	0.02	1.33	(1.07)	2.10	(2.09)	5.74

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