ProShares UltraShort Bitcoin ETF (SBIT) — Stock Correlations & Overview
Over the past year, SBIT has moved most closely with BTCZ, BITI, SETH. Explore the stocks most correlated and inversely correlated with SBIT below, along with its price, financials, and company profile.
Stocks correlated with SBIT
Correlation of daily returns. Higher positive values move with SBIT; negative values move opposite it. Informational only, not investment advice.
Most correlated with SBIT
| Symbol | Company | Correlation |
|---|---|---|
| BTCZ | T-Rex 2X Inverse Bitcoin Daily Target ETF | 1.00 |
| BITI | ProShares Short Bitcoin ETF | 0.98 |
| SETH | ProShares Short Ether ETF | 0.91 |
| ETHD | ProShares UltraShort Ether ETF | 0.91 |
| MSTZ | T-Rex 2X Inverse MSTR Daily Target ETF | 0.83 |
Most inversely correlated with SBIT
| Symbol | Company | Correlation |
|---|---|---|
| BRRR | Coinshares Bitcoin ETF Common Shares of Beneficial InterestCOMMODITY CONTRACTS BROKERS & DEALERS | -1.00 |
| BTCO | Invesco Galaxy Bitcoin ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -1.00 |
| ARKB | ARK 21Shares Bitcoin ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -1.00 |
| BITB | Bitwise Bitcoin ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -1.00 |
| GBTC | Grayscale Bitcoin Trust ETFCOMMODITY CONTRACTS BROKERS & DEALERS | -1.00 |
Frequently asked questions about SBIT correlations
- Which stocks are most correlated with SBIT?
- Based on one year of daily returns, the stocks most correlated with ProShares UltraShort Bitcoin ETF (SBIT) are BTCZ (1.00), BITI (0.98) and SETH (0.91). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with SBIT?
- Over the past year, the stocks most inversely correlated with ProShares UltraShort Bitcoin ETF (SBIT) are BRRR (-1.00), BTCO (-1.00) and ARKB (-1.00). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these SBIT correlations calculated?
- We compute the correlation of daily returns between SBIT and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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