ProShares UltraShort Correlations

Etfs . USA . 
Etf . ProShares UltraShort Financials
SKF Etf  USD 36.67  0.35  0.95%   
The current 90-days correlation between ProShares UltraShort and ProShares UltraShort Real is 0.26 (i.e., Modest 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.

ProShares UltraShort Correlation With Market

Good diversification

The correlation between ProShares UltraShort Financial and DJI is -0.02 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Financial and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in ProShares UltraShort Financials. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in industry.

Moving together with ProShares Etf

  0.9SH ProShares Short SP500PairCorr
  0.79PSQ ProShares Short QQQPairCorr
  0.92SPXU ProShares UltraPro Short Upward RallyPairCorr
  0.92SDS ProShares UltraShort Buyout TrendPairCorr
  0.92SPXS Direxion Daily SP Upward RallyPairCorr
  0.81QID ProShares UltraShort QQQ Buyout TrendPairCorr
  0.93RWM ProShares Short Russ Buyout TrendPairCorr
  0.9SPDN Direxion Daily SPPairCorr
  0.94TAIL Cambria Tail RiskPairCorr
  0.89DOG ProShares Short Dow30PairCorr
  0.69NRGU Bank Of MontrealPairCorr
  0.71JNJ Johnson Johnson Fiscal Year End 28th of January 2025 PairCorr

Moving against ProShares Etf

  0.93ATMP Barclays ETN SelectPairCorr
  0.87GBTC Grayscale Bitcoin TrustPairCorr
  0.83AMZA InfraCap MLP ETFPairCorr
  0.78MLPR ETRACS Quarterly PayPairCorr
  0.77SGG Barclays CapitalPairCorr
  0.56DIG ProShares Ultra OilPairCorr
  0.49USD ProShares Ultra SemiPairCorr
  0.97BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.89CSCO Cisco SystemsPairCorr
  0.82CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.8TRV The Travelers Companies Fiscal Year End 17th of January 2025 PairCorr
  0.7AA Alcoa Corp Fiscal Year End 15th of January 2025 PairCorr
  0.6HD Home DepotPairCorr
  0.32HPQ HP Inc Sell-off TrendPairCorr
  0.31CAT Caterpillar Fiscal Year End 3rd of February 2025 PairCorr
  0.31MSFT Microsoft Sell-off TrendPairCorr

Related Correlations Analysis

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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   
QID
+ 0.79
DXD
SMN
+ 0.62
SRS
DXD
+ 0.62
DUG
QID
+ 0.24
DUG
SMN
+ 0.07
DUG
  
High negative correlations   
QID
- 0.63
SMN
QID
- 0.5
SRS
SMN
- 0.27
DXD
DXD
- 0.12
SRS
DUG
- 0.09
SRS

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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