ProShares UltraShort Correlations

Etfs USA . 
Etf . ProShares UltraShort Russell2000
TWM Etf  USD 38.00  0.25  0.65%   
The current 90-days correlation between ProShares UltraShort and ProShares UltraShort MidCap400 is 0.96 (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.
  
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

  0.94SH ProShares Short SP500 Sell-off TrendPairCorr
  0.9PSQ ProShares Short QQQPairCorr
  0.94SPXU ProShares UltraPro ShortPairCorr
  0.94SDS ProShares UltraShortPairCorr
  0.94SPXS Direxion Daily SPPairCorr
  0.9QID ProShares UltraShort QQQPairCorr
  0.99RWM ProShares Short RussPairCorr
  0.94SPDN Direxion Daily SP Sell-off TrendPairCorr
  0.89TAIL Cambria Tail RiskPairCorr
  0.96DOG ProShares Short Dow30PairCorr
  0.67WTID UBS ETRACSPairCorr
  0.77KO Coca Cola Fiscal Year End 11th of February 2025 PairCorr
  0.79JNJ Johnson Johnson Sell-off TrendPairCorr
  0.73PFE Pfizer Inc Fiscal Year End 4th of February 2025 PairCorr
  0.75MRK Merck Company Fiscal Year End 6th of February 2025 PairCorr

Moving against ProShares Etf

  0.92CRPT First Trust SkyBridgePairCorr
  0.91DAPP VanEck Digital TransPairCorr
  0.91WGMI Valkyrie Bitcoin Miners Downward RallyPairCorr
  0.87BITX Volatility Shares TrustPairCorr
  0.76NVDL GraniteShares 15x LongPairCorr
  0.76NVDU Direxion Daily NVDAPairCorr
  0.75NVDX T Rex 2XPairCorr
  0.68USD ProShares Ultra SemiPairCorr
  0.9CSCO Cisco Systems Aggressive PushPairCorr
  0.9BAC Bank of America Fiscal Year End 10th of January 2025 PairCorr
  0.89CVX Chevron Corp Fiscal Year End 7th of February 2025 PairCorr
  0.85INTC Intel Fiscal Year End 23rd of January 2025 PairCorr
  0.73HPQ HP IncPairCorr
  0.72HD Home DepotPairCorr
  0.4GE GE Aerospace Fiscal Year End 28th of January 2025 PairCorr
  0.33IBM International Business Sell-off TrendPairCorr

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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