ProShares UltraShort Correlations
PST Etf | USD 21.88 0.21 0.97% |
The current 90-days correlation between ProShares UltraShort and ProShares UltraShort 20 is 0.95 (i.e., Almost no 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
Average diversification
The correlation between ProShares UltraShort 7 10 and DJI is 0.11 (i.e., Average 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.
ProShares |
Moving together with ProShares Etf
0.99 | TBT | ProShares UltraShort | PairCorr |
0.99 | TMV | Direxion Daily 20 | PairCorr |
0.99 | TBF | ProShares Short 20 | PairCorr |
1.0 | TYO | Direxion Daily 7 | PairCorr |
0.65 | USD | ProShares Ultra Semi | PairCorr |
0.66 | FNGU | MicroSectors FANG Index | PairCorr |
0.71 | BULZ | MicroSectors Solactive | PairCorr |
0.74 | BITS | Global X Blockchain | PairCorr |
0.73 | DAPP | VanEck Digital Trans | PairCorr |
0.83 | CVX | Chevron Corp Fiscal Year End 7th of February 2025 | PairCorr |
0.63 | MSFT | Microsoft Sell-off Trend | PairCorr |
0.84 | BA | Boeing Fiscal Year End 29th of January 2025 | PairCorr |
0.8 | MRK | Merck Company Fiscal Year End 6th of February 2025 | PairCorr |
Moving against ProShares Etf
0.89 | JNJ | Johnson Johnson Fiscal Year End 28th of January 2025 | PairCorr |
0.74 | WTID | UBS ETRACS | PairCorr |
0.72 | DFEN | Direxion Daily Aerospace | PairCorr |
0.68 | NAIL | Direxion Daily Homeb | PairCorr |
0.64 | HD | Home Depot | PairCorr |
0.92 | KO | Coca Cola Fiscal Year End 11th of February 2025 | PairCorr |
0.9 | MCD | McDonalds Sell-off Trend | PairCorr |
0.89 | MMM | 3M Company Fiscal Year End 28th of January 2025 | PairCorr |
0.82 | PG | Procter Gamble | PairCorr |
0.8 | T | ATT Inc Aggressive Push | PairCorr |
0.8 | TRV | The Travelers Companies Fiscal Year End 17th of January 2025 | PairCorr |
0.56 | AXP | American Express Fiscal Year End 24th of January 2025 | PairCorr |
0.56 | GE | GE Aerospace Fiscal Year End 28th of January 2025 | PairCorr |
0.33 | CAT | Caterpillar Fiscal Year End 3rd of February 2025 | PairCorr |
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
| High negative correlations
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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 | 1.49 | 0.12 | 0.05 | 0.25 | 1.89 | 3.93 | 11.55 | |||
MSFT | 1.01 | (0.23) | 0.00 | (0.15) | 0.00 | 1.77 | 5.06 | |||
UBER | 1.83 | (0.06) | (0.02) | 0.05 | 2.14 | 5.29 | 13.81 | |||
F | 1.76 | (0.39) | 0.00 | (0.16) | 0.00 | 2.84 | 22.50 | |||
T | 0.90 | 0.26 | 0.12 | (8.35) | 1.03 | 2.53 | 7.97 | |||
A | 1.08 | 0.10 | 0.08 | 0.20 | 1.13 | 2.84 | 6.97 | |||
CRM | 1.27 | 0.00 | 0.02 | 0.11 | 1.32 | 2.93 | 6.43 | |||
JPM | 1.04 | (0.11) | (0.04) | 0.02 | 1.82 | 2.05 | 7.98 | |||
MRK | 1.00 | (0.17) | 0.00 | 1.55 | 0.00 | 1.31 | 11.82 | |||
XOM | 1.16 | 0.03 | (0.01) | 0.15 | 1.35 | 2.10 | 5.78 |