ProShares Ultra Correlations

Etfs . USA . 
Etf . ProShares Ultra Dow30
DDM Etf  USD 101.04  0.26  0.26%   
The current 90-days correlation between ProShares Ultra Dow30 and ProShares Ultra SP500 is 0.89 (i.e., Very poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as ProShares Ultra moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if ProShares Ultra Dow30 moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

No risk reduction

The correlation between ProShares Ultra Dow30 and DJI is 1.0 (i.e., No risk reduction) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Dow30 and DJI in the same portfolio, assuming nothing else is changed.
  
Build AI portfolio with ProShares Etf
Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in ProShares Ultra Dow30. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in unemployment.

Moving together with ProShares Etf

  0.98SSO ProShares Ultra SP500 Sell-off TrendPairCorr
  0.99SPXL Direxion Daily SP500 Sell-off TrendPairCorr
  0.97QLD ProShares Ultra QQQPairCorr
  0.8NRGU Bank of MontrealPairCorr
  0.99UPRO ProShares UltraPro SP500 Sell-off TrendPairCorr
  0.97TECL Direxion Daily TechnologyPairCorr
  0.65LABU Direxion Daily SPPairCorr
  0.76GUSH Direxion Daily SPPairCorr
  0.97UYG ProShares Ultra FinaPairCorr
  0.98VTI Vanguard Total Stock Sell-off TrendPairCorr
  0.98SPY SPDR SP 500 Sell-off TrendPairCorr
  0.98IVV iShares Core SP Sell-off TrendPairCorr
  0.62BND Vanguard Total BondPairCorr
  0.99VTV Vanguard Value IndexPairCorr
  0.97VUG Vanguard Growth IndexPairCorr
  0.99VO Vanguard Mid CapPairCorr
  0.95VEA Vanguard FTSE DevelopedPairCorr
  0.99VB Vanguard Small CapPairCorr
  0.96VWO Vanguard FTSE EmergingPairCorr
  0.94KEMQ KraneShares EmergingPairCorr
  0.77KWEB KraneShares CSI ChinaPairCorr
  0.95AXP American ExpressPairCorr
  0.95CSCO Cisco SystemsPairCorr
  0.9GE GE AerospacePairCorr
  0.88MMM 3M CompanyPairCorr
  0.97CAT Caterpillar Earnings Call Next WeekPairCorr
  0.83CVX Chevron Corp Earnings Call This WeekPairCorr
  0.9DIS Walt DisneyPairCorr
  0.91DD Dupont De Nemours Earnings Call TomorrowPairCorr
  0.83IBM International BusinessPairCorr

Moving against ProShares Etf

  0.53FNGU MicroSectors FANG Index Symbol ChangePairCorr
  0.68MCD McDonaldsPairCorr
  0.52KO Coca ColaPairCorr
  0.42PG Procter Gamble Earnings Call TomorrowPairCorr

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   
QLD
+ 1.0
SSO
UWM
+ 0.98
SSO
MVV
+ 0.98
UWM
MVV
+ 0.97
SSO
UWM
+ 0.97
QLD
MVV
+ 0.96
QLD
  
High negative correlations   
DXD
- 0.99
SSO
MVV
- 0.98
DXD
UWM
- 0.98
DXD
QLD
- 0.98
DXD

ProShares Ultra Constituents Risk-Adjusted Indicators

There is a big difference between ProShares Etf performing well and ProShares Ultra 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 Ultra'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.

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