ProShares Ultra Correlations

EET Etf

USD 66.93 0.08 0.12%

The current 90-days correlation between ProShares Ultra MSCI and ProShares Ultra FTSE is 0.78 (i.e., Poor diversification). The correlation of ProShares Ultra is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

ProShares Ultra Correlation With Market

Good diversification

The correlation between ProShares Ultra MSCI and DJI is -0.01 (i.e., Good diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra MSCI 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 MSCI. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in income.

Moving together with ProShares Etf

0.61	TECL	Direxion Daily Technology	Pair Corr
0.62	GUSH	Direxion Daily SP Potential Growth	Pair Corr
0.97	VTI	Vanguard Total Stock	Pair Corr
0.93	IBM	International Business Earnings Call Tomorrow	Pair Corr
0.85	MMM	3M Company	Pair Corr
0.96	BAC	Bank of America Aggressive Push	Pair Corr
0.92	GE	GE Aerospace	Pair Corr
0.9	AA	Alcoa Corp	Pair Corr
0.85	PFE	Pfizer Inc	Pair Corr
0.98	CAT	Caterpillar	Pair Corr
0.94	DIS	Walt Disney	Pair Corr
0.97	MSFT	Microsoft Earnings Call Next Week	Pair Corr
0.96	JPM	JPMorgan Chase	Pair Corr
0.92	AXP	American Express	Pair Corr

Moving against ProShares Etf

0.7	MCD	McDonalds	Pair Corr
0.55	KO	Coca Cola	Pair Corr
0.53	PG	Procter Gamble Earnings Call This Week	Pair Corr
0.31	VZ	Verizon Communications Aggressive Push	Pair Corr

Related Correlations Analysis

	XPP	EFO	EZJ	UBR	UPV
XPP		0.87	0.65	0.73	0.88	XPP
EFO	0.87		0.9	0.84	0.99	EFO
EZJ	0.65	0.9		0.81	0.85	EZJ
UBR	0.73	0.84	0.81		0.82	UBR
UPV	0.88	0.99	0.85	0.82		UPV
	XPP	EFO	EZJ	UBR	UPV

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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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
XPP	1.90	0.47	0.14	(3.17)	1.74	(2.27)	5.42	(3.70)	10.86
EFO	1.20	0.33	0.11	(26.44)	1.14	(1.39)	2.78	(2.44)	7.01
EZJ	1.51	0.15	0.02	0.66	1.67	(1.55)	3.72	(2.64)	9.95
UBR	1.95	0.19	0.04	0.65	2.00	(2.41)	5.27	(3.22)	12.42
UPV	1.14	0.36	0.14	23.93	1.00	(1.30)	2.65	(2.21)	7.32

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