Profunds Ultrashort Correlations

USPIX Fund

USD 27.41 0.47 1.74%

The current 90-days correlation between Profunds Ultrashort and Ab Bond Inflation is 0.04 (i.e., Significant diversification). The correlation of Profunds 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.

Profunds Ultrashort Correlation With Market

Excellent diversification

The correlation between Profunds Ultrashort Nasdaq 100 and DJI is -0.68 (i.e., Excellent diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Profunds Ultrashort Nasdaq 100 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 Profunds Ultrashort Nasdaq 100. Also, note that the market value of any mutual fund could be closely tied with the direction of predictive economic indicators such as signals in gross domestic product.

Moving together with ProFunds Mutual Fund

0.91	UIPIX	Ultrashort Mid Cap	Pair Corr
0.91	UIPSX	Ultrashort Mid Cap	Pair Corr
0.98	BRPIX	Bear Profund Bear	Pair Corr
0.98	BRPSX	Bear Profund Bear	Pair Corr
0.82	GVPIX	Us Government Plus	Pair Corr
0.82	GVPSX	Us Government Plus	Pair Corr
0.81	UKPSX	Ultrashort Japan Profund	Pair Corr
0.81	UKPIX	Ultrashort Japan Profund	Pair Corr

Moving against ProFunds Mutual Fund

1.0	LGPSX	Profunds Large Cap	Pair Corr
1.0	OTPIX	Nasdaq 100 Profund	Pair Corr
1.0	OTPSX	Nasdaq 100 Profund	Pair Corr
0.99	LGPIX	Large Cap Growth	Pair Corr
0.98	TEPIX	Technology Ultrasector	Pair Corr
0.97	TEPSX	Technology Ultrasector	Pair Corr
0.89	MLPSX	Mid Cap Value	Pair Corr
0.85	MLPIX	Mid Cap Value	Pair Corr
0.76	BTCFX	Bitcoin Strategy Profund	Pair Corr
0.73	ENPIX	Oil Gas Ultrasector Potential Growth	Pair Corr
0.73	PHPIX	Pharmaceuticals Ultrasector	Pair Corr
0.7	UJPIX	Ultrajapan Profund	Pair Corr
0.69	UJPSX	Ultrajapan Profund	Pair Corr
0.69	ENPSX	Oil Gas Ultrasector Potential Growth	Pair Corr
1.0	UOPIX	Ultra Nasdaq 100	Pair Corr
1.0	UOPSX	Ultranasdaq 100 Profund	Pair Corr
0.98	ULPIX	Ultrabull Profund	Pair Corr
0.98	ULPSX	Ultrabull Profund	Pair Corr
0.93	INPIX	Internet Ultrasector	Pair Corr
0.93	INPSX	Internet Ultrasector	Pair Corr
0.92	WCPIX	Mobile Telecommunicatio	Pair Corr
0.92	WCPSX	Mobile Telecommunicatio	Pair Corr
0.89	UMPSX	Ultramid Cap Profund Steady Growth	Pair Corr
0.89	UMPIX	Ultramid Cap Profund Steady Growth	Pair Corr
0.88	CYPSX	Consumer Services	Pair Corr
0.88	CYPIX	Consumer Services	Pair Corr
0.82	RRPSX	Rising Rates Opportunity	Pair Corr
0.82	RRPIX	Rising Rates Opportunity	Pair Corr
0.81	SVPIX	Small Cap Value	Pair Corr
0.81	RTPSX	Rising Rates Opportunity	Pair Corr

Related Correlations Analysis

	ABNTX	QLMETX	EPEIX	BOGSX	EMSLX	REVIX	ANGCX
ABNTX		-0.37	0.37	-0.34	0.29	0.23	0.86	ABNTX
QLMETX	-0.37		0.17	0.81	0.26	0.33	-0.66	QLMETX
EPEIX	0.37	0.17		0.34	0.92	0.94	0.12	EPEIX
BOGSX	-0.34	0.81	0.34		0.45	0.48	-0.64	BOGSX
EMSLX	0.29	0.26	0.92	0.45		0.97	-0.02	EMSLX
REVIX	0.23	0.33	0.94	0.48	0.97		-0.07	REVIX
ANGCX	0.86	-0.66	0.12	-0.64	-0.02	-0.07		ANGCX
	ABNTX	QLMETX	EPEIX	BOGSX	EMSLX	REVIX	ANGCX

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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

REVIX	+ 0.97	EMSLX
REVIX	+ 0.94	EPEIX
EMSLX	+ 0.92	EPEIX
ANGCX	+ 0.86	ABNTX
BOGSX	+ 0.81	QLMETX
REVIX	+ 0.48	BOGSX

High negative correlations

ANGCX	- 0.66	QLMETX
ANGCX	- 0.64	BOGSX
QLMETX	- 0.37	ABNTX
BOGSX	- 0.34	ABNTX
ANGCX	- 0.07	REVIX
ANGCX	- 0.02	EMSLX

Risk-Adjusted Indicators

There is a big difference between ProFunds Mutual Fund performing well and Profunds Ultrashort Mutual Fund 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 Profunds 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
ABNTX	0.14	(0.01)	(0.49)	(0.75)	0.19	(0.17)	0.29	(0.30)	0.88
QLMETX	0.47	0.11	(0.02)	(28.19)	0.33	(0.56)	0.88	(0.87)	3.24
EPEIX	0.74	(0.02)	(0.11)	(0.03)	1.00	(0.77)	1.57	(1.61)	6.52
BOGSX	0.96	(0.12)	(0.05)	0.03	1.39	(0.95)	1.88	(2.25)	5.68
EMSLX	0.72	(0.03)	0.00	(1.35)	0.00	0.00	1.76	(1.08)	6.36
REVIX	0.73	0.01	(0.12)	0.00	0.87	(0.87)	1.44	(1.71)	5.60
ANGCX	0.10	(0.01)	(0.75)	0.42	0.11	(0.16)	0.23	(0.23)	0.70

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