Correlation Analysis Between ProShares UltraShort and ProShares UltraShort

This module allows you to analyze existing cross correlation between ProShares UltraShort Bloomberg Natrl Gas and ProShares UltraShort Bloomberg Crude Oil. You can compare the effects of market volatilities on ProShares UltraShort and ProShares UltraShort and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in ProShares UltraShort with a short position of ProShares UltraShort. See also your portfolio center. Please also check ongoing floating volatility patterns of ProShares UltraShort and ProShares UltraShort.
 Time Horizon     30 Days    Login   to change
Symbolsvs

ProShares UltraShort Bloomberg  vs.  ProShares UltraShort Bloomberg

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ProShares UltraShort Bloomberg Natrl Gas is expected to generate 0.51 times more return on investment than ProShares UltraShort. However, ProShares UltraShort Bloomberg Natrl Gas is 1.95 times less risky than ProShares UltraShort. It trades about 0.35 of its potential returns per unit of risk. ProShares UltraShort Bloomberg Crude Oil is currently generating about -0.12 per unit of risk. If you would invest  3,745  in ProShares UltraShort Bloomberg Natrl Gas on June 21, 2018 and sell it today you would earn a total of  595.00  from holding ProShares UltraShort Bloomberg Natrl Gas or generate 15.89% return on investment over 30 days.

Pair Corralation between ProShares UltraShort and ProShares UltraShort

-0.11
Time Period1 Month [change]
DirectionNegative 
StrengthInsignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Good diversification

Overlapping area represents the amount of risk that can be diversified away by holding ProShares UltraShort Bloomberg and ProShares UltraShort Bloomberg in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on ProShares UltraShort and ProShares UltraShort is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on ProShares UltraShort Bloomberg Natrl Gas are associated (or correlated) with ProShares UltraShort. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of ProShares UltraShort has no effect on the direction of ProShares UltraShort i.e. ProShares UltraShort and ProShares UltraShort go up and down completely randomly.

Comparative Volatility

 Predicted Return Density 
      Returns 
ProShares UltraShort  
23 

Risk-Adjusted Performance

Compared to the overall equity markets, risk-adjusted returns on investments in ProShares UltraShort Bloomberg Natrl Gas are ranked lower than 23 (%) of all global equities and portfolios over the last 30 days.
ProShares UltraShort  
0 

Risk-Adjusted Performance

Over the last 30 days ProShares UltraShort Bloomberg Crude Oil has generated negative risk-adjusted returns adding no value to investors with long positions.

My Equities

My Current Equities and Potential Positions
View AllNext
GOOG - USA Stock
Alphabet
Specialization
IT, Search Cloud And Integrated IT Services
Business Address1600 Amphitheatre Parkway
ExchangeNASDAQ
$0.0
Alphabet cannot be verified against its exchange. It appears that Alphabet is not available for investing at this time. Please verify the symbol is currently traded on NASDAQ. If you still believe the symbol you are trying to look up is valid please let us know and we will check it as soon as possible.

Try Other Suggestions

GTVJXGoldman Sachs Target Date 2030Fund
GTVMXGoldman Sachs Target Date 2040Fund
GTVOXGoldman Sachs Target Date 2035Fund
GTVSXGoldman Sachs Target Date 2050Fund
FPPXXGovernment Obligations Fund ClFund
ELKMFGold Road Resources LimitedStock
GCGAXGoldman Sachs Concentrated GroFund

Thematic Opportunities

Explore Investment Opportunities
Build portfolios using Macroaxis predefined set of investing ideas. Many of Macroaxis investing ideas can easily outperform a given market. Ideas can also be optimized per your risk profile before portfolio origination is invoked.
Explore Thematic Ideas
Explore Investing Ideas  
See also your portfolio center. Please also try Premium Stories module to follow macroaxis premium stories from verified contributors across different equity types, categories and coverage scope.


 
vendors/bower_components/jquery.easy-pie-chart/dist/jquery.easypiechart.min.js">