EUO vs. PGR
EUO (ProShares UltraShort Euro) is Leveraged Currency fund tracking the USD/EUR Exchange Rate (-200%), while PGR (The Progressive Corporation) is a stock. Over the past 10 years, EUO returned 2.38%/yr vs 23.25%/yr for PGR. At a correlation of -0.11, they often move in opposite directions.
Performance
EUO vs. PGR - Performance Comparison
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Returns By Period
In the year-to-date period, EUO achieves a 5.79% return, which is significantly higher than PGR's -6.42% return. Over the past 10 years, EUO has underperformed PGR with an annualized return of 2.38%, while PGR has yielded a comparatively higher 23.25% annualized return.
EUO
- 1D
- -0.20%
- 1M
- 4.68%
- YTD
- 5.79%
- 6M
- 4.10%
- 1Y
- 2.43%
- 3Y*
- 0.08%
- 5Y*
- 5.80%
- 10Y*
- 2.38%
PGR
- 1D
- -1.84%
- 1M
- 3.23%
- YTD
- -6.42%
- 6M
- -4.51%
- 1Y
- -23.65%
- 3Y*
- 18.74%
- 5Y*
- 18.76%
- 10Y*
- 23.25%
EUO vs. PGR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUO ProShares UltraShort Euro | 5.79% | -18.87% | 19.79% | -1.02% | 13.88% | 14.83% | -15.97% | 10.51% | 14.39% | -21.71% |
PGR The Progressive Corporation | -6.42% | -3.02% | 51.39% | 23.16% | 26.81% | 10.84% | 41.48% | 25.14% | 9.39% | 61.59% |
Correlation
The correlation between EUO and PGR is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Nov 26, 2008 | -0.11 |
The correlation between EUO and PGR shifts across timeframes, from -0.11 (all time) to -0.01 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
EUO vs. PGR — Risk / Return Rank
EUO
PGR
EUO vs. PGR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Euro (EUO) and The Progressive Corporation (PGR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| EUO | PGR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.77 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 0.84 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.30 | -0.94 | +1.24 |
| Martin ratioReturn relative to average drawdown | 0.67 | -1.43 | +2.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EUO | PGR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.19 | -1.04 | +1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.77 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.95 | -0.79 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.58 | -0.52 |
Drawdowns
EUO vs. PGR - Drawdown Comparison
The maximum EUO drawdown since its inception was -38.58%, smaller than the maximum PGR drawdown of -71.06%. Use the drawdown chart below to compare losses from any high point for EUO and PGR.
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Drawdown Indicators
| EUO | PGR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.58% | -71.06% | +32.48% |
Max Drawdown (1Y)Largest decline over 1 year | -8.05% | -25.27% | +17.22% |
Max Drawdown (3Y)Largest decline over 3 years | -24.46% | -30.35% | +5.89% |
Max Drawdown (5Y)Largest decline over 5 years | -25.28% | -30.35% | +5.07% |
Max Drawdown (10Y)Largest decline over 10 years | -29.61% | -30.35% | +0.74% |
Current DrawdownCurrent decline from peak | -17.46% | -26.74% | +9.28% |
Average DrawdownAverage peak-to-trough decline | -18.50% | -14.53% | -3.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 18.79% | -15.08% |
Volatility
EUO vs. PGR - Volatility Comparison
The current volatility for ProShares UltraShort Euro (EUO) is 2.76%, while The Progressive Corporation (PGR) has a volatility of 7.57%. This indicates that EUO experiences smaller price fluctuations and is considered to be less risky than PGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUO | PGR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.76% | 7.57% | -4.81% |
Volatility (6M)Calculated over the trailing 6-month period | 8.81% | 16.95% | -8.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.68% | 22.76% | -10.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 24.55% | -8.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.88% | 24.48% | -9.60% |
Dividends
EUO vs. PGR - Dividend Comparison
EUO has not paid dividends to shareholders, while PGR's dividend yield for the trailing twelve months is around 6.94%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUO ProShares UltraShort Euro | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PGR The Progressive Corporation | 6.94% | 2.15% | 0.48% | 0.25% | 0.31% | 6.23% | 2.68% | 3.89% | 1.86% | 1.21% | 2.50% | 2.16% |
Frequently Asked Questions
EUO and PGR have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PGR has higher volatility (7.57%) compared to EUO (2.76%). In terms of maximum drawdown, EUO dropped -38.58% vs PGR's -71.06%.
EUO currently has the higher Sharpe Ratio (0.19 vs -1.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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