ProShares UltraShort Financials (SKF) — Stock Correlations & Overview
Over the past year, SKF has moved most closely with SEF, FAZ, BNKD. Explore the stocks most correlated and inversely correlated with SKF below, along with its price, financials, and company profile.
Stocks correlated with SKF
Correlation of daily returns. Higher positive values move with SKF; negative values move opposite it. Informational only, not investment advice.
Most correlated with SKF
| Symbol | Company | Correlation |
|---|---|---|
| SEF | ProShares Short Financials | 1.00 |
| FAZ | Direxion Daily Financial Bear 3x ETF | 0.99 |
| BNKD | MicroSectors U.S. Big Banks -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | 0.85 |
| DXD | ProShares UltraShort Dow 30 | 0.77 |
| SDOW | ProShares UltraPro Short Dow 30 | 0.77 |
Frequently asked questions about SKF correlations
- Which stocks are most correlated with SKF?
- Based on one year of daily returns, the stocks most correlated with ProShares UltraShort Financials (SKF) are SEF (1.00), FAZ (0.99) and BNKD (0.85). 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 SKF?
- Over the past year, the stocks most inversely correlated with ProShares UltraShort Financials (SKF) are XLF (-0.99), FNCL (-0.99) and VFH (-0.99). 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 SKF correlations calculated?
- We compute the correlation of daily returns between SKF 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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