There are lots of tickers on the Barchart’s New 52-week Highs page , and yes, most of them are inverse ETFs. Sorting those results by relative strength shows the top performers, and that doesn’t bring many surprises today either.
For example, almost no market observer should be surprised to find that today’s Chart of the Day, UltraShort Financials Proshares (SKF) represents the current week state of the financial sector. Still by any measure the UltraShort Financials Proshares has had a great run. The ETF is up more than 187% since the first of the year. And making new highs today.
Barchart Opinions for SKF are:
Short Term Indicators Average: 100% Buy
Medium Term Indicators Average: 100% Buy
Long Term Indicators Average: 100% Buy
Overall Average: 100% Buy
Barchart Trend Spotter Signal: Buy since November 17, 2008
Sector Performance: SKF is a member of the Indices Exchange Traded Funds sector, where it has a YTD return of 187%. While the sector as a whole has a weighted Alpha of -43.11%, SKF itself has a weighted Alpha of +86.40% indicating that it is significantly stronger than the sector as a whole. To learn more about weighted Alpha, visit the Barchart Learning Center .
How we spotted this chart: SKF appeared on Barchart’s 52-week high list today, where we displayed the Full List and then sorted by relative strength. At the time of publication, SKF was the top performing stock under that criteria.
Recent Developments:
UltraShort Financials ProShares seeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Financials Index.
