ProShares Ultra Correlations

LTL Etf

USD 116.24 2.23 1.96%

The current 90-days correlation between ProShares Ultra Tele and ProShares Ultra SP500 is -0.16 (i.e., Good 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 Telecommunications moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

ProShares Ultra Correlation With Market

Very weak diversification

The correlation between ProShares Ultra Telecommunicat and DJI is 0.56 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding ProShares Ultra Telecommunicat and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with ProShares Etf

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in ProShares Ultra Telecommunications. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with ProShares Etf

0.81	SSO	ProShares Ultra SP500	Pair Corr
0.81	SPXL	Direxion Daily SP500	Pair Corr
0.77	QLD	ProShares Ultra QQQ	Pair Corr
0.81	UPRO	ProShares UltraPro SP500	Pair Corr
0.69	TECL	Direxion Daily Technology	Pair Corr
0.77	LABU	Direxion Daily SP	Pair Corr
0.63	UYG	ProShares Ultra Fina	Pair Corr
0.85	ITDD	iShares Trust	Pair Corr
0.8	VCSH	Vanguard Short Term	Pair Corr
0.9	VMAX	REX VolMAXX Long	Pair Corr
0.82	AIS	VistaShares Artificial	Pair Corr
0.85	TIPX	SPDR Bloomberg 1	Pair Corr
0.92	INVN	Alger ETF	Pair Corr
0.9	DJAN	First Trust Exchange	Pair Corr
0.86	TCHP	T Rowe Price	Pair Corr
0.93	ESG	FlexShares STOXX ESG	Pair Corr
0.93	MIG	VanEck Vectors Moodys	Pair Corr
0.92	LRND	IQ Large Cap	Pair Corr
0.92	MYCL	SPDR SSGA My2032	Pair Corr
0.96	WEA	Western Asset Premier	Pair Corr
0.66	FBY	YieldMax META Option	Pair Corr
0.89	PMJA	PGIM SP 500	Pair Corr
0.78	GOF	Guggenheim Strategic	Pair Corr
0.79	GLD	SPDR Gold Shares Aggressive Push	Pair Corr
0.86	VFMV	Vanguard Minimum Vol	Pair Corr
0.69	IEUR	iShares Core MSCI	Pair Corr
0.81	TDV	ProShares SP Technology	Pair Corr
0.8	BSV	Vanguard Short Term	Pair Corr
0.93	OCIO	ClearShares OCIO ETF	Pair Corr
0.67	WBIY	WBI Power Factor	Pair Corr

Moving against ProShares Etf

0.4

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Pair Corr

Related Correlations Analysis

	SSO	SPXL	QLD	NRGU	UPRO	TECL	LABU	GUSH	UYG
SSO		1.0	0.97	0.59	1.0	0.9	0.89	0.38	0.7	SSO
SPXL	1.0		0.97	0.59	1.0	0.91	0.89	0.39	0.71	SPXL
QLD	0.97	0.97		0.48	0.97	0.96	0.83	0.31	0.58	QLD
NRGU	0.59	0.59	0.48		0.59	0.47	0.69	0.92	0.74	NRGU
UPRO	1.0	1.0	0.97	0.59		0.91	0.89	0.39	0.71	UPRO
TECL	0.9	0.91	0.96	0.47	0.91		0.76	0.35	0.5	TECL
LABU	0.89	0.89	0.83	0.69	0.89	0.76		0.54	0.69	LABU
GUSH	0.38	0.39	0.31	0.92	0.39	0.35	0.54		0.66	GUSH
UYG	0.7	0.71	0.58	0.74	0.71	0.5	0.69	0.66		UYG
	SSO	SPXL	QLD	NRGU	UPRO	TECL	LABU	GUSH	UYG

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
SSO	0.86	0.23	0.09	(0.52)	0.77	(1.05)	1.68	(1.22)	5.00
SPXL	1.28	0.35	0.13	(0.52)	1.24	(1.62)	2.53	(1.86)	7.51
QLD	1.06	0.26	0.08	(0.57)	1.15	(1.13)	2.52	(1.73)	6.42
NRGU	2.88	0.52	0.13	0.78	3.14	(3.13)	6.31	(5.78)	19.03
UPRO	1.29	0.34	0.13	(0.52)	1.24	(1.62)	2.52	(1.91)	7.50
TECL	1.97	0.46	0.12	(0.96)	2.22	(2.10)	4.53	(3.14)	11.03
LABU	3.29	0.91	0.17	(0.50)	3.24	(3.54)	8.72	(5.74)	18.77
GUSH	2.23	0.20	0.06	0.34	2.70	(2.33)	4.77	(4.50)	13.37
UYG	1.17	0.11	(0.02)	(0.14)	1.49	(1.25)	2.31	(2.23)	7.02

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